PPT-Assessment of Investment Company & Practical Expedient (US GAAP)

Company amp Practical Expedient US GAAP Pankaj Kothari July 3 2017 July 3 2017 What is an Investment Company An entity regulated under the Investment Company Act of 1940 is an investment company. 9. th. GRADE. LESSON . 13. 1. .. esoteric (adj.) understood by only a select few. . . . A plain cook, Molly had no time for . exoteric. . recipes.. 2. . . eulogy . (n.) a speech in praise of someone who is dead.. Mark Thomas, Partner, KPMG LLP. Learning . Objective. Be familiar with . certain of the . new accounting pronouncements and understand . the effects on the auxiliary organizations financial . statements. The . information contained on this site may . include company information that does not conform with generally accepted accounting principles (GAAP).  . Management believes the use of these non-GAAP measures are meaningful to investors because they provide insight with respect to operating results of the company and additional metrics for use in comparison to competitors.  These measures should not be viewed as an alternative to GAAP measures of performance.  Furthermore, these measures may not be consistent with similar measures used by other companies.  . Chancellor’s Office. Learning . Objectives. Elimination of non-exchange transaction. Updates on IPEDS Template used for Component Units’ FIRMS data . submission. General . information related to IT General Controls Audit . Liabilities are. Present obligations. Require the future transfer of assets or provision of services. Obligation cannot be avoided. Event giving rise to obligation has already occurred. GAAP and IFRS are about the same regarding liabilities. Bill Rutherford Chief Financial Officer and Executive Vice President. Vic Campbell Senior Vice President. Mark Kimbrough. . Vice President, Investor Relations. . . Forward-Looking Statements . and Non-GAAP Financial Measures.  . . . STATE . OF.  . CONNECTICUT. 20x8. . COMPREHENSIVE. ANNUAL. . FINANCIAL. REPORT. Fiscal Year Ended. June 30, 20x8. . Kevin Lembo. State Comptroller. Overview of OSC Requests. OBJECTIVE. : Explain the advantages and disadvantages of expedient. flood . works. Supporting Objectives. Describe various expedient flood works. Identify four methods of capping a levee. Identify the basic materials required for various methods of expedient flood control.  . . . STATE . OF.  . CONNECTICUT. 20x8. . COMPREHENSIVE. ANNUAL. . FINANCIAL. REPORT. Fiscal Year Ended. June 30, 20x8. . Kevin Lembo. State Comptroller. Overview of OSC Requests. Criselle Espiritu, Financial Reporting Analyst SFSR, . Chancellor’s Office. Learning . Objectives. Know the GAAP Accounting and Reporting Manual updates and key changes. Know the changes in the supplementary schedule. These non-GAAP financial measures are provided to enhance investors’ overall understanding of the Company’s historical operations and financial performance and, as presented, may not be comparable to similarly titled measures of other companies due to varying methods of calculation.. irst % to RMB48.2 million(US$7.5 million) from 32 as of May 31, 2017. May 2014. . Overview. Current UK financial reporting regime. The current UK financial reporting regime. New UK financial reporting regime. The new standards. FRS 100 The application requirements. FRS 101 Reduced Disclosure Framework. GAAP Training How to prepare the GAAP forms COMPREHENSIVE ANNUAL FINANCIAL REPORT Fiscal Year Ended June 30, 20x8 Kevin Lembo State Comptroller Overview of OSC Requests Standard forms package – GAAP Forms #1 thru #9 Additional Agency