KPMG in the Philippines [kpmgcorner]

KPMG Corner

	Audit

		Corporate governance developments, 8/12/2008 Corporate governance has gained prominence in our country mainly as a result of the financial crisis in East Asia in the late nineties. Read more...
		Major change in revenue recognition for real estate companies, 7/22/2008 A new accounting interpretation will take effect on January 1, 2009 which will drastically affect the timing of the recognition of revenues of companies engaged in development and sale of real estate. Read more...
		Pro-forma financials for IPO purposes, 7/15/2008 The pro-forma financial information as the term suggests has for its objective the provision of information to investors about the effect(s) of a transaction or a set of transactions that might have had on the historical operations of a registrant as well as the possible effect(s) on the continuing operations of the registrant. Read more...
		A closer look at the proposed accounting for small and medium-sized entities (SMEs), 7/8/2008 The full adoption of the International Financial Reporting Standards or IFRS that started in 2005 has posed a big challenge for many entities. Read more... .
		How much growth can your business sustain?, 2/12/2008 How much growth can your company or a business sustain without borrowing more money and why is this information important in managing your business? Read more...
		Fraud in audit - auditors' responsibility, 12/18/2007 Before the Enron fiasco in year 2002, not too many people knew what Certified Public Accountants (CPAs) do. Read more...
		Free Cash Flow and the Cash Flow Statement, 12/11/2007 Free cash flow. This is a term you will find in annual reports of some major corporations in the world. It’s disclosed in the annual reports; however, free cash flow is not covered by International Financial Reporting Standards at this time. Read more...
		Accounting for Mineral Resources and Oil and Gas Exploration Companies, 9/11/2007 The International Accounting Standards Board (IASB) has come out with guidance, albeit incomplete, to address the accounting issues facing entities in the extractive industries. Read more...
		Heads up for IPPs or BOT operators, 7/3/2007 There is a new accounting standard that will introduce significant changes to the financial statements of operators of “public-to-private service concession arrangements”. Read more...
		Conversion to International Financial Reporting Standards: The Philippine Experience, 4/3/2007 A lot has been said and written about the international accounting standards which have been gradually phased into our financial reporting system since the late 1990s and which were fully adopted in 2005, with certain transitional relief, as Philippine Financial Reporting Standards (PFRS) based on equivalent International Financial Reporting Standards (IFRS). Read more...