LETS GET STARTED!

 


INTERNATIONAL FINANCIAL
REPORTING STANDARDS
HARMONY IT SAID.

IS IT SO?

IFRS WAS INTRODUCED TO BRING CONSISTENCY AND TRANSPARENCY TO FINANCIAL REPORTING BY
DIFFERENT COUNTRIES,
IN THE LIGHT OF COMPANIES
EXPANDING GLOBALLY.


IF SO, IS IT ADOPTED UNIFORMALLY GLOBALLY?

APPROXIMATELY 140 NATIONS AND REPORTING JURISDICTIONS PERMIT OR REQUIRE IFRS FOR DOMESTIC LISTED COMPANIES.





DID YOU KNOW? 

IFRS, BEING "PRINCIPLES-BASED" TEND TO BE SIMPLER IN ITS ACCOUNTING AND DISCLOSURE REQUIREMENTS THAN GAAP WHICH 
IS "RULES-BASED".





CASE STUDY 


SONY BOOSTS PROFIT OUTLOOK ON BETTER MOVIES, MUSIC PROSPECTS  


SONY GROUP COPR. RAISED ITS FISCAL-YEAR PROFIT FORECAST, BETTING THAT IMPROVING PROSPECTS FOR IT'S MUSIC, MOVIES AND ELECTRONICS DIVISIONS WILL OFFSET SLOWING GAMING DEMAND AS THE GLOBAL ECONOMY STARTS TO EMERGE FROM COVID-19.

THE TOKYO-BASED ENTERTAINMENT GIANT INCREASED IT'S FULL-YEAR OPERATING PROFIT OUTLOOK TO 980 BILLION YEN ($8.99 BILLION) FROM 930 BILLION YEN PREVIOUSLY. OPERATING PROFIT FOR THE QUARTER ENDED JUNE WAS 280 BILLION YEN, HIGHER THAN THE AVERAGE ANALYST EXPECTATIONS OF 226.1 BILLION YEN. SONY SWITVHED ITS ACCOUNTING METHOD FROM U.S. STANDARDS TO IFRS STARTING WITH THE JUNE QUARTER.

SONY CHIEF FINANCIAL OFFICER HIROKI TOTOKI SAID THAT THE COMPANY'S KEY PRODUCT, THE $499 PLAYSTATION 5, WAS NO LONGER SELLING AT A LOSS. THE $399 PS5 DIGITAL EDITION IS ON TRACK TO HAVE IT'S LOSS OFFSET BY OTHER HARDWARE SALES INCLUDING PERIPHERALS AND THE PLAYSTATION 4, THE CFO SAID.










Comments

Post a Comment