Facultad de Ciencias Administrativas

Licenciatura en Contabilidad

Tarea N°3

Estudiante- Umayma Sheth

8-940-1353

Profesor- Vasco Fonseca

Fecha de Entrega
Miércoles 12 de Junio del 2019
1. Consolidation
The action or process of combining a number of things into a single more
effective or coherent whole
2. Headquarters
The offices or working location of a military commander; the place from
which a commander customarily issues orders.
3. Branches
A division or office of a large business or organization, operating locally or
having a particular function.
4. Subsidiary
In the corporate world, a subsidiary is a company that belongs to another
company, which is usually referred to as the parent company or the holding
company.
5. Representative
Standing or acting for another especially through delegated authority.
6. Principles of Generally Accepted Accounting (GAAP)
Generally accepted accounting principles (GAAP) refer to a common set of
accepted accounting principles, standards, and procedures that companies
and their accountants must follow when they compile their financial
statements. GAAP is a combination of authoritative standards (set by policy
boards) and the commonly accepted ways of recording and reporting
accounting information. GAAP improves the clarity of the communication of
financial information.
7. International Accounting Standards (NIC)
International Accounting Standards (IAS) are older accounting standards
that were replaced in 2001 by International Financial Reporting Standards
(IFRS), issued by the International Accounting Standards Board (IASB), an
independent international standard-setting body based in London.
 International Accounting Standards (IAS) were the first international
accounting standards that were issued by the International Accounting
Standards Committee (IASC), formed in 1973. The goal then, as it remains
today, was to make it easier to compare businesses around the world,
increase transparency and trust in financial reporting, and foster global trade
and investment.

Globally comparable accounting standards promote transparency,

accountability, and efficiency in financial markets around the world. This
enables investors and other market participants to make informed economic
decisions about investment opportunities and risks, and improves capital
allocation. Universal standards also significantly reduce reporting and
regulatory costs, especially for companies with international operations and
subsidiaries in multiple countries.
 Bibliografia
https://www.investopedia.com/terms/i/ias.asp

https://www.investopedia.com/terms/g/gaap.asp

https://www.merriam-webster.com/dictionary/representative

https://www.lexico.com/en/definition/branch

https://www.dictionary.com/browse/headquarters