International Financial Reporting Standards called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board. They constitute a standardised way of describing the company’s financial performance so that company financial statements are understandable and comparable across international boundaries, they are relevant for companies with shares or securities listed on a public stock exchange. IFRS have replaced many different national accounting standards around the world but have not replaced the separate accounting standards in the United States where US GAAP is applied; the International Accounting Standards Committee was established in June 1973 by accountancy bodies representing ten countries. It devised and published International Accounting Standards, interpretations and a conceptual framework; these were looked to by many national accounting standard-setters in developing national standards. In 2001 the International Accounting Standards Board replaced the IASC with a remit to bring about convergence between national accounting standards through the development of global accounting standards.

During its first meeting the new Board adopted existing IAS and Standing Interpretations Committee standards. The IASB has continued to develop standards calling the new standards "International Financial Reporting Standards". In 2002 the European Union agreed that, from 1 January 2005, International Financial Reporting Standards would apply for the consolidated accounts of the EU listed companies, bringing about the introduction of IFRS to many large entities. Other countries have since followed the lead of the EU. IFRS Standards are required in more than 140 jurisdictions and permitted in many parts of the world, including South Korea, the European Union, Hong Kong, Malaysia, Pakistan, GCC countries, Chile, South Africa and Turkey. To assess progress towards the goal of a single set global accounting standards, the IFRS Foundation has developed and posted profiles about the use of IFRS Standards in individual jurisdictions; these are based on information from various sources. The starting point was the responses provided by standard-setting and other relevant bodies to a survey that the IFRS Foundation conducted.

As of August 2019, profiles are completed for 166 jurisdictions, with 144 jurisdictions requiring the use of IFRS Standards. Due to the difficulty of maintaining up-to-date information in individual jurisdictions, three sources of information on current worldwide IFRS adoption are recommended: IFRS Foundation profiles page The World Bank International Federation of AccountantsRay J. Ball described the expectation by the European Union and others that IFRS adoption worldwide would be beneficial to investors and other users of financial statements, by reducing the costs of comparing investment opportunities and increasing the quality of information. Companies are expected to benefit, as investors will be more willing to provide financing. Companies that have high levels of international activities are among the group that would benefit from a switch to IFRS Standards. Companies that are involved in foreign activities and investing benefit from the switch due to the increased comparability of a set accounting standard.

However, Ray J. Ball has expressed some scepticism of the overall cost of the international standard, he expressed concerns about the fair value emphasis of IFRS and the influence of accountants from non-common-law regions, where losses have been recognised in a less timely manner. US GAAP remains separate from IFRS; the Securities Exchange Committee requires the use of US GAAP by domestic companies with listed securities and does not permit them to use IFRS. In 2002 IASB and the Financial Accounting Standards Board, the body supporting US GAAP, announced a programme known as the Norwalk Agreement that aimed at eliminating differences between IFRS and US GAAP. In 2012 the SEC announced that it expected separate US GAAP to continue for the foreseeable future but sought to encourage further work to align the two standards. IFRS is sometimes described as principles-based, as opposed to a rules-based approach in US GAAP; the Conceptual Framework serves as a tool for the IASB to develop standards.

It does not override the requirements of individual IFRSs. Some companies may use the Framework as a reference for selecting their accounting policies in the absence of specific IFRS requirements; the Conceptual Framework states that the primary purpose of financial information is to be useful to existing and potential investors and other creditors when making decisions about the financing of the entity and exercising rights to vote on, or otherwise influence, management's actions that affect the use of the entity's economic resources. Users base their expectations of returns on their assessment of: The amount and uncertainty of future net cash inflows to the entity; the Conceptual Framework for Financial Reporting defines the fundamental qualitative characteristics of financial information to be: Relevance.

The following is a timeline of the history of the city of Fargo, North Dakota, USA. 1670 - Rupert's Land, or Prince Rupert's Land, is a territory established in British North America comprising the Hudson Bay drainage basin. 1811 - The Selkirk Concession begins the Red River Colony colonization project. 1871 - A. H. Moore's house built. 1873 Headquarters Hotel in business. Cass County established. January 5, 1875 Fargo incorporated in Dakota Territory. County courthouse built. 1876 - Population: 600. 1880 Fargo Daily Times newspaper begins publication. Population: 2,693. 1889 - Town becomes part of the new U. S. state of North Dakota. 1890 - North Dakota Agricultural College opens. 1891 - Concordia College founded in nearby Moorhead, Minnesota. 1893 June 7: Fire. Opera house built. 1894 - Fargo Forum and Daily Republican newspaper in publication. 1897 - North Dakota Harness Company in business. 1898 Fargo Golf Club formed. Fram Norwegian-language newspaper in publication. 1899 - St. Mary's Cathedral built. 1900 - Population: 9,589.

1903 Public Library built. St. Paul's Evangelical Lutheran church founded. 1904 - Fargo Street Railway begins operating. 1906 State Fair begins. Grand Theater opens. 1908 - St. Luke’s Hospital opens. 1912 April: Preacher Billy Sunday visits town. July: Sangerfest held. 1914 - Princess Theatre opens. 1917 Woodrow Wilson High School established. John Miller Baer becomes U. S. representative for North Dakota's 1st congressional district. 1920 Pence Automobile Company Warehouse built. Population: 21,961. 1922 - WDAY radio begins broadcasting. 1926 June 26: Gustaf of Sweden visits town. Fargo Theatre built. 1927 - August 26: Charles Lindbergh visits town. 1928 - Regan Brothers Bakery in business. 1929 - Veterans' Hospital built. 1930 - Post Office and Courthouse built. 1931 - Fargo Civic Orchestra established. 1935 - Dovre Ski Slide erected. 1939 - June: Olav of Norway visits town. 1940 - November 7: Duke Ellington at Fargo, 1940 Live recorded. 1948 KFGO radio begins broadcasting. American Crystal Sugar Company factory begins operating in Minnesota.

1954 - Herschel Lashkowitz becomes mayor. 1957 - 1957 Fargo tornado. 1960 - North Dakota State University active. 1964 - Public educational KFME begins broadcasting. 1966 - Fargo North High School and Daughters of Dakota Pioneers established. 1969 - Red River Valley Genealogical Society founded. 1970 Bison Sports Arena built. Population: 53,365. 1972 - West Acres Shopping Center in business. 1974 - Sister city relationship established with Hamar, Norway. 1975 - Plains Art Museum founded. 1978 - Jon Lindgren becomes mayor. 1983 - Greater Fargo-Moorhead Area Food Bank established. 1986 - Hector Airport terminal built. 1987 - Sister city relationship established with Vimmerby, Sweden. 1990 - Historic Preservation Commission established. 1992 - Fargodome opens. 1996 Sundog in business. Fictional Fargo film released. 1997 - April: 1997 Red River flood. 1998 - City website online. 2000 - Population: 90,599. 2003 - Pride parade begins. 2004 - The Ed Schultz Show begins broadcasting. 2006 - Dennis Walaker becomes mayor.

2007 - Open magazine begins publication. 2009 - 2009 Red River flood. 2010 - Population: 105,549. 2013 Sanford Medical Center construction begins. Kevin Cramer becomes U. S. representative for North Dakota's at-large congressional district. 2014 - Timothy Mahoney becomes mayor. Fargo history List of mayors of Fargo, North Dakota Timeline of North Dakota John Caron. "Fargo, North Dakota: its History and Images". Fargo: North Dakota State University, Libraries. Items related to Fargo, various dates

Michael John Murphy Played professional hockey in the National Hockey League for 13 years for the St. Louis Blues, New York Rangers and the Los Angeles Kings and has been Assistant and Head Coach in the NHL for The Los Angeles Kings, Ottawa Senators, Vancouver Canucks, Toronto Maple Leafs & New York Rangers. Mike Played for Team Canada winning a Bronze Medal in 1978 and Coached Team Canada, International Hockey League. Murphy is presently Senior Vice President of hockey operations; as a youth, he and teammate Peter Sullivan played in the 1963 Quebec International Pee-Wee Hockey Tournament with a minor ice hockey from North York. In the National Hockey League, he played for the St. Louis Blues, New York Rangers, Los Angeles Kings. Murphy played in Los Angeles for 13 years, he was assistant coach for Team Canada. Murphy was selected to play on the NHL All Star team in 1980, he has career totals in the NHL of 318 assists for 556 total points in 831 games played. Upon retiring from hockey with the Los Angeles Kings, he became their head coach.

Murphy went on to be Assistant coach of the Vancouver Canucks, Ottawa Senators, New York Rangers. Murphy was promoted from assistant coach of the Vancouver Canucks to head coach of their farm team, the Milwaukee Admirals of the American Hockey League. Murphy left Milwaukee for an assistant coach position with the Toronto Maple Leafs hockey team. Murphy was promoted to be the 24th head coach of the Toronto Maple Leafs; as NHL vice-president of hockey operations, Murphy was forced to make a tough call during game three of the first round of the 2010 Stanley Cup. Murphy disallowed what was first ruled as a 3-4 goal on the ice for the Vancouver Canucks against Murphy's former team, the Los Angeles Kings; the incident is one of many. The official ruling stated that, "Video Review was used to determine whether the puck was kicked into the net by Vancouver's Daniel Sedin with a kicking motion. Upon review, it was determined; this was not a deflection. The direction the puck was moving and the force of the skate were the determining factors in concluding'no goal'".

According to rule 49.2 of the NHL, "A puck, directed into the net by an attacking player’s skate shall be a legitimate goal as long as no distinct kicking motion is evident." In an interview with CBC Hockey Night in Canada, Murphy admitted that the puck was not kicked in a "distinct kicking motion", as the official NHL rules require, yet Murphy maintained his position on the judgement. Biographical information and career statistics from NHL.com, or Hockey-Reference.com