Detail What's a Little Debt Between Friends?   Oleh:  Pucek, Ralph M. ; Richards, Glenn E. Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Accountancy vol. 214 no. 6 (Dec. 2012), page 48-51. Topik: Financial Reporting; Risk Management; Related Party Transactions Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85, JJ85.33 Non-tandon: 3 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel Companies accused of fraud disclosed slightly more related-party transactions than companies that had not been accused of fraud in a study of public SEC fraud allegations from 1998 to 2007 performed by the Committee of Sponsoring Organizations of the Treadway Commission, of which the AICPA is a member. Yet the rules on accounting for these transactions have remained stagnant, and very little accounting guidance exists to assist preparers of financial statements with reporting for them. In short, preparers can find the guidance difficult to apply to specific transactions. Three types of related-party transactions are especially prone to confusion and error when it comes to proper reporting. They are: 1. owner's debt converted to equity, 2. related-party forgiveness of debt, and 3. related-party forgiveness of other liabilities. It is all too easy to make mistakes on a related-party transaction that could materially misstate a company's financial statements. Preparers who understand the risks, however, can take action to reduce the chance of errors. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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