buy custom Advance Accounting Research Case essay

buy custom Advance Accounting Research Case essay One of the codes of practice that are to be met by companies listed in the New York Stock Exchange is to prepare their financial statements based on the United States Generally Accepted Accounting Principle (US GAAP). Notably, the companies listed in the New York Stock Exchange include foreign and non-foreigners corporations that trade their shares. As it is recommended for all companies to produce financial statements that will give appropriate information to the stakeholders with interest in the company. As there is need information in order for shareholders, invest in locally and internationally owned companies it is critical to regulate the financial reporting standards in order to enhance uniformity in application of Generally Accepted Accounting Principles. The United States Securities and Exchange Commission oversees the companies adherence to reporting their financial statements under the US GAAP. For this reason, foreign companies have to oblige to the regulations by reconci ling their financial statements into the US GAAP. Sony Corporation is an international company that manufactures electronic goods and trades its shares in the New York Stock Exchange although it is a Japan based corporation. Sony Corporation is international companies with its subsidiaries based in Japan maintaining their records besides preparing their financial statement in accordance with Japan GAAP. On the contrary, the foreign subsidiaries of Sony Corporation maintain their records and prepare the financial statements with conformity to its domicile country GAAP. In order to come up with uniformity, certain adjustments and reclassifications have to be incorporated with regards to the consolidated financial statements such that they can conform to the US GAAP. This, however, does not include all the details in the financial statements as there are certain disclosures that are omitted from complying with the United States GAAP. The main reason behind the conversion is to ensure uniformity and consistency while giving final report s of the holding company f Sony Corporation. Japanese GAAP applies to most of Sonys subsidiaries in Japan in a different form as that used by the holding company as it applies the United States GAAP that is totally different in their rules and regulations in maintenance and preparation of financial statements. Differences in the Japan GAAP and US GAAP in Net Income Measure The difference in the net income of a financial statement maintained and prepared using the United States GAAP, and Japanese GAAP is brought about by the way the items found in the books of accounts are accounted for respectively. The books of accounts that are prepared at the end of the year give the final report through the cash flow statement, balance sheet beside the profit and loss account. Major difference arises in terms of accounting for the subsidiaries in the consolidated financial statement where according to Japanese GAAP, it is based on the control that the company has over its subsidiaries. On the other hand, the US GAAP recognizes the subsidiaries while preparing the consolidated financial statement depending on the majority voting interest by shareholders. Besides, the convertible bonds value differs when accounted for under the US GAAP and the Japanese GAAP. This is because Japanese GAAP converts changes in market bonds as net unrealized gains or losses under the net assets in the balance sheet whereas the change in market value in the US GAAP is reflected under the income statement. Accounting treatment of new policies under the Japanese GAAP is charged to the costs as soon as it is incurred unlike US GAAP where the insurance acquisition cost is amortized in order to be evenly distributed. Treatment of the actuarial gains or losses in retirement benefits according to Japanese GAAP amortizes the whole amount without a corridor unlike US GAAP that applies the corridor of amortization based on the value of the retirement benefit. Treatment of goodwill as the Japanese GAAP advocates for strict amortization with impairment whhereas the US GAAP advocates for impairment only and not aromatization. Where there is pooling of interest in business combinations the US GAAP uses purchase method while the Japanese GAAP ensures that it is exceptionally used when strict criteria have been met. Another difference arises in the measure of impairment of assets whereby Japanese GAAP takes the higher value between the net selling value and the value in use in order to determine the recoverable amount. On the other hand, US GAAP gives the measure of impairment of assets in terms of the fair value. Companys Profitability in Japan GAAP and US GAAP Companys profitability differs when US GAAP or the Japanese GAAP is applied when preparing the financial statements. Significantly, the difference extremely comes about due to the different currencies used in different countries. Whereas Sony subsidiaries use Japanese Yens, while maintaining and preparing the financial statements, an increase in the Yen value leads to lower profits as Sony Corporation reports low sales considerably. On the contrary, when compared to the use of US GAAP the translation of the values from Japanese Yen into the United States dollar in order to have uniformity is marked by differences in the exchange rates. As a result, of unfavorable exchange rates, Sony Corporation operations report an increase in the operating loss. In the long run, lower profitability levels led to, lower dividend returns and poor profitability performance of the Sony Corporation in the New York Securities Exchange as it trades its share to investors. However, the United States Securities and Exchange Commission has overseen that the use of US Generally Accepted Accounting Principles is not favorable they stipulate for the use of the Internationally Financial Reporting standards reinforcement by 2015. As a result, there will be uniformity in the application of accounting standards as most countries just like the Japan GAAP oversee its regulation adherence to the IFRS. Buy custom Advance Accounting Research Case essay

9 Reasons You Might Be Failing at Your Careerâ€And How to Fix It

9 Reasons You Might Be Failing at Your Career- And How to Fix It The time has come to talk about the â€Å"F† word. (No, not that â€Å"F† word.) Failure. No matter who you are or what you do, that word usually has the power to strike fear. If you suspect you’re already failing in your life (for example, you’re not where you thought you would be at this point, or you’ve experienced setbacks), that can be incredibly intimidating. It may keep you from shaking off bad habits and picking up new ones that would get you in a better place. This is especially true in your career. It can be super easy to fall into an inertia bubble and then find yourself shrugging helplessly when you know it’s time to get out. Let’s look at some of the reasons you might think you’re failing at your professional life, and what you can do about them.1. You feel helpless to make changes.This is one I struggle with all. the. time. You may not think you’re helpless per se, but maybe you just feel overwhelmed by dail y minutiae, and you feel like staying afloat is all you can accomplish. If you’re managing only what comes your way, you’re troubleshooting rather than improving.What to do about it: Realize that you do have a say in your daily life, even at work where things might seem very regimented or non-negotiable. If you want to take more agency and control in your life, it starts with you. Learn to advocate for yourself, and negotiate what you want. You’d be surprised at what you can get if you learn to ask for it in the right way.2. You’re too busy blaming other people.I’d be much further along if Susan weren’t getting all the attention and good projects at work. I’d be making more money if Frank paid more attention to what I’m doing. I’d have a better job if it weren’t for my cat/my parents/my therapist.What to do about it: You do you. Your career is yours, and yours alone. This means that ultimately, your decisions are your responsibility- not your cat’s, your parents’, or your therapist’s. It’s time to stop blaming, and instead start thinking about what it would take for you to get what you want: that raise, the good projects, the job you want. Blaming others takes up a lot of mental energy, which you should instead be using to do an internal audit of why things aren’t working out the way you want- and what steps you can take to make progress.3. You’re settling for a mediocre status quo.This is an especially insidious kind of failure. You’re comfortable enough, have a job that pays your bills, but you’re not really going anywhere. It’s settling for the good-enough-right-now, at the expense of what is good for you in the future.What to do about it: Do things that scare you a little (within reason). You don’t have to go busting every piece of your status quo right now, but if you start by doing one thing every week that is outsid e your comfort zone, you’ll likely find that â€Å"status quo† expanding around you. Take on a project that is a bit of a stretch. Take a class in a new skill. Apply for that reach job. If you find yourself hesitating, ask yourself why, and what you have to lose if you go for it. And if the answer isn’t â€Å"it’s physically dangerous† or â€Å"this will cause a divorce,† then consider moving forward with it after all.4. You don’t have the resources or education.If you avoid applying for jobs because you don’t have the necessary skills, experience, or education, that feeling of failure may creep in while you’re browsing job openings. It’s hard not to feel like a failure if all you can see are closed doors.What to do about it: Take a class! Going for a new degree (or completing an old one) just may not be feasible for everyone, but there are often ways to get around the traditional â€Å"going back to school† model. For skill-building, sites like Lynda.com offer free or relatively inexpensive courses you can take on your own time. There are also many universities and colleges that offer part-time degree programs, or non-degree courses online. There are so many ways to stay academically active and keep learning, even when time or money is tight.5. You’re avoiding hard truths.Facing reality is hard. That’s why we have 8 million things to distract our attention at any given time. Cat videos, TV, social media- we all have ways of decompressing and avoiding reality for a while. Those are all temporary, though. Ultimately you’ll have to think about new and different ways of doing things, or facts that make you uncomfortable. If you’ve been avoiding thinking about your professional future because it might lead to uncomfortable realizations about the choices you’ve made and the ones you will need to make in the future, then you’re setting yourself up f or failure.What to do about it: Time for a little self-audit. Where are you in your career, what’s keeping you in it, and where do you want to be in five years? This is an exercise just for you- no one else will see or judge, so it’s important to be extremely honest about what you have, and what you want.6. You think you’re too old to make changes.We often pick our career paths pretty early in life, based on what we want to study in college, or what we think we’d be good at doing when we’re 18. And think about it: how well do many of the life decisions you made when you were 18 still hold up? How many of your hobbies and interests are the same? You’re not locked into a career that you chose because it seemed like a good idea at the time. As you change, you’re never too old to change your professional path.What to do about it: If you feel stuck in a path that doesn’t interest you anymore, think about making a change- no matter h ow significant. Think about what it is you want to be doing, and start doing real research into what it would take- like education, certification, or skills. These are all things you can work on in the meantime, before you make any big moves.7. Your fear of failure has you pinned down.Failing because you fear failure? Is that a thing? Yes, yes it is. It’s possible to back right into failure while you’re on guard against it, avoiding risky changes or proactive steps that could result in failing. This kind of failure is sneaky, because it comes right from the place you thought you were watching.What to do about it: Don’t be afraid to be bad at something, or to make a bad decision once in a while. Failure can actually be one of the great learning experiences, painful though it may feel in the meantime. By letting fear of failure paralyze you, it can kill your career progress. Your professional life thrives on both your successes and your failures.8. You’re o verestimating your abilities.Full disclosure: I’m failing at being a ballet dancer. This is because I am the biggest klutz ever, I don’t have the right body type, and†¦oh yeah†¦I have very few ballet skills. So Misty Copeland’s title is probably safe. But if I expected to be a ballet dancer at this point in my career, I’d be making a fatal assumption that I could be one in my current state. It’s one thing to be confident in the abilities you have, but another thing entirely to be confident that you’ll be good at something without the education or skills to back it up. This kind of mindset lets you get comfortable in the idea that you don’t need to learn or do new things, because you’re the best the way you are.What to do about it: Embrace your strengths, work on your weaknesses, and accept the need to be realistic about what you can do.9. You’re not setting realistic goals.If you’re not planning your car eer in a realistic way, of course you’re going to feel like a failure- you set it up that way yourself. Going from entry level to CEO in two years was never going to happen.What to do about it: Time to set up some SMART goals. That’s Specific, Measurable, Achievable, Relevant, and Time-Based. Setting these career goals both in the short-term (say, for the next year) and the long-term (five years or beyond) will help you make progress that you can quantify. There are lots of apps and tools you can use to help you, but don’t underestimate the power of a good old-fashioned checklist, and the smug, well-earned sense of satisfaction you get as you check something off the list.If you feel like you’re failing, it’s never too late to stop, figure out why, and start taking concrete steps out of the muck. Understanding why you’re failing is the most important first step you can take.