CFO fundamentals : your quick guide to internal controls, by Siegel, Joel G.; Shim, Allison I.; Shim, Jae K

By Siegel, Joel G.; Shim, Allison I.; Shim, Jae K

The thorough reference that is going anywhere you go

The entire CFO Reference is definitely the right up to date reference software for modern day busy CFO, controller, treasurer, and different finance pros. Written in a simple structure and full of checklists, samples, and worked-out options for a wide selection of accounting and finance difficulties, readers can take this useful reference at any place they go-on a business journey, traveling a shopper, accomplishing a convention name, or attending a meeting.

  • Covers all significant advancements in finance and accounting each CFO must find out about together with IFRS, Web-based making plans, and varying from monetary reporting and inner keep an eye on to monetary choice making for shareholder price maximization
  • Includes tables, kinds, checklists, questionnaires, useful counsel, and pattern reports
  • Incorporates Accounting criteria Codification (ASC) during the e-book, in addition to assurance of foreign monetary Reporting criteria (IFRS) and its influence on monetary reporting, XBRL reporting, danger administration and catastrophe restoration, Web-based making plans and budgeting, internet 2.0, cloud computing, and environmental costing

Simplifying daily paintings in dozens of severe components, The entire CFO Reference is the precise up to date reference instrument for ultra-modern busy leader monetary officer (CFO), controller, treasurer, monetary director, budgeting director, and different monetary execs in public perform and personal industry.

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Additional resources for CFO fundamentals : your quick guide to internal controls, financial reporting, IFRS, Web 2.0, cloud computing, and more

Sample text

The earliest date that substantial performance can take place is the franchisee’s commencement of operations unless there are special circumstances. indd 35 1/18/2012 3:05:24 PM 36 ◾ Financial Reporting probable that the franchisor will eventually repurchase the franchise, the initial fee may be deferred and treated as a reduction of the repurchase price. If revenue is deferred, the related expenses must be deferred for later matching in the year in which the revenue is recognized, as in the next illustration.

The SEC will not object to a company making a one-time cumulative-effect adjustment to correct mistakes from prior years that are qualitatively and quantitatively immaterial, based on appropriate use of the registrant’s previously used approach. SOX REPORTING REQUIREMENTS What are the features of the Sarbanes-Oxley Act reporting? Section 404(b) of the SOX Act, “Enhanced Financial Disclosures, Management Assessment of Internal Control,” mandates sweeping changes. Section 404(b), in conjunction with the related SEC rules and Auditing Standard (AS) No.

Provide explicit and practical guidance on scaling the audit to fit the size and complexity of the company. These provisions do not create a separate standard for smaller companies. Instead, AS No. 5 explicitly requires the auditor to tailor the nature, extent, and timing of testing to meet the unique characteristics of smaller companies. 3. Eliminate procedures that are unnecessary to achieve the intended benefits. AS No. 5 links the testing of specific controls to a risk assessment of that control.

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