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ACCOUNTING SYSTEM
Principles-Based Accounting System
Principles-Based Accounting System
Introduction
At the end of accounting period, companies have to prepare financial statements according to the rules set by the Financial Accounting Standards Board. In early 2000s, the reporting scandals have encouraged to the SEC to reconsider existing accounting methods and techniques. Currently, ...
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ACCOUNTING STANDARDS
Standardization of Accounting Treatment
Standardization of Accounting Treatment
Introduction
Accounting standard are important for maintaining the quality of financial reporting. Accounting standards helps in communicating the economic information about the organizations and businesses to the investors, board of directors, shareholders, lenders, suppliers, stake holders, and customers. It helps in making the important ...
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PA ASSIGNMENT 8
PA Assignment 8: Tools of Fiscal Policy
Tools of Fiscal Policy
Introduction
Fiscal policy is the policy which is concern with the government expenditure and revenue collection from the public in order to influence the economy. Fiscal policies are those actions that enacted by the Legislative Branch of the ...
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ADVANCED ACCOUNTING
Advanced Accounting Theory & Practice
IAS 1 Presentation of Financial Statements
Introduction
The objective of IAS 1 (2007) is to prescribe the basis for presentation of general purpose financial statements to ensure comparability both with the company's own financial statements of previous periods and with the financial statements of ...
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AUSTRALIAN ACCOUNTING STANDARDS
Approaches to Standard Setting in Accounting
Approaches to Standard Setting in Accounting
Introduction
In context of reduced disclosure requirements in Australian Accounting Standards, for years, the accounting standard setters have been waging a combat in opposition to the financial fraud, distorted and obfuscated financial reporting. This study contends the approaches to ...
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FINANACIAL ACCOUNTING
Financials Accounting
IAS 16 Property, Plant and Equipment
Introduction
The transformation of the U.S. economy requires an adjustment of the principles of the Accounting Act, including rules governing the rules of its conduct to the requirements of market economy. The provisions of the Act are gradually supplemented and improved, ...
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IASB AND FINANCIAL REPORTING
International Accounting Standards Board and Financial Reporting
International Accounting Standards Board and Financial Reporting
Financial Reporting Standards and IASB
The International Accounting Standards Board (IASB) is a privately-funded, independent standardization body that is responsible for developing and promoting the use of the "International Financial Reporting Standards", which are used worldwide ...
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ACCOUNTING - THEORY
Assignment - Financial Accounting Theory
Assignment - Financial Accounting Theory
Overview
Stakeholder theory is its inability to incorporate an dynamic (beaulieu and pasquero, 2002; jawahar and mclaughlin, 2001). First focused on identifying existing share holders and decryption of the environment of the company, stakeholder theory has proposed many types ...
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Accounting Theories
Accounting Theories
Answer 1
The International Financial Reporting Standards (IFRS) are a complete set of accounting standards and set principles for accounting to be done by a company. These are the principles adopted by most of the companies in numerous countries around the world. The globalization of business and ...
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Review of Accounting Ethics
Review of Accounting Ethics
Introduction
The foundation of civilized society is based on the ethical values and without these values; the civilized society can fall rapidly. The main purpose of ethics in business is directing men and women to obey code and conducts that encourages the people to have ...