PDF-International GAAP 2019

The Benefits of Reading Books. Technical Update. Mark Thomas. , Partner . KPMG LLP. May 19, 2015. Learning Objective:. Be familiar with the new accounting pronouncements and understand its effect to the California State University System financial statements. Accounting Changes and Error Corrections. Both GAAP and IFRS treat changes in accounting . estimates. prospectively. Changes in accounting . principles. are accounted for retrospectively for both GAAP and IFRS.. GAAP “Capital Lease” Criteria. To be classified as a capital lease GAAP states that the lease must be non-cancelable and meet one of the following:. Transfers ownership. Bargain purchase option. Lease term is . Statutory Accounting. Insurers produce financial statement prescribed by NAIC. Filed with insurance department of regulators. Based on Statutory Accounting Principles. More conservative than GAAP. SAP - . Julia . Makarieva. Jennifer . Waclawik. Becky Fay . Grayson . Schrantz. Alex Perez. Definition of Inventory. US GAAP- considered more. rules based. IFRS- considered more principle based. The. aggregate of those items of tangible personal property that are:. 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.  . 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. Insurers produce financial statement prescribed by NAIC. Filed with insurance department of regulators. Based on Statutory Accounting Principles. More conservative than GAAP. SAP - . 2. Policyholders’ Surplus. . Generally Accepted Accounting Principles. Defined as the set of accepted industry rules, practices and guidelines for financial accounting . Includes the standards, conventions, and rules accountants follow in recording and summarizing transactions, and in the preparation of financial statements. Insurers produce financial statement prescribed by NAIC. Filed with insurance department of regulators. Based on Statutory Accounting Principles. More conservative than GAAP. SAP - . 2. Policyholders’ Surplus. Going to attend upcoming international conferences in 2019? Read the article to know rules of the international medical healthcare conferences in 2019. 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.