¶ … Accounting Standards?
Over time, quite a number of accounting guidelines and rules have been developed by bodies like FASB and IASB. Do these standards serve any meaningful purpose? In this text, I concern myself with accounting standards and their relevance. In so doing, I will amongst other things discuss why we need accounting standards.
Wahlen, Jones, and Pagach (2012, p.1-20) point out that "the FASB and the IASB operate so that they can develop new accounting standards in a thorough, thoughtful, and efficient manner, with due process, and in open public forums." To begin with, it is important to note that accounting standards play a critical role when it comes to the enhancement of the comparability of financial statements. National, regional, and international boundaries no longer exist when it comes to trade and commerce. Indeed, the world has effectively become a global village. For this reason, there exists a need to ensure that when it comes to financial reporting, some uniformity is observed. In the opinion of Fischer, Taylor, and Cheng (2011), life would be much simpler if things were to become uniform and consistent. To drive their point home, the authors in this case wonder why South America and the United States do not use standard power plugs so as to make things easier for travelers wishing to charge their phones. Similarly, the authors also wonder why two different countries would choose to give two economic transactions, which happen to be identical, different accounting treatment. Accounting...
Accounting The Impact of Distance Learning in Accounting Higher Education This paper is intended as an Introduction to a research study in to the impact of distance learning on the teaching of accounting in higher education. The context of the research will first be introduced i.e., the background to the research. The research to be undertaken will then be introduced, as will the specific questions and sub-questions to be addressed. The significance
This role is in response to clients' demands for a single trustworthy individual or firm to meet all of their financial needs. However, accountants are restricted from providing these services to clients whose financial statements they also prepare." (U.S. Department of Labor, Bureau of Labor Statistics, 2009) 1. Public Accounting The work entitled: "The Reality of the CPA's Role" states that modern CPAs work "behind the scenes as trusted advisors in
large organizations, the existence and effectiveness of its internal audit function comes into question. Not only the internal audit department should exist but it shall work effectively. An effective internal audit department can serve as the backbone of an organization's success. The International Accounting Standards Board (IASB) keeps on revising its standards to make sure that external and internal auditors of an organization carry out their duties effectively. The
66). Furthermore, social software will only increase in importance in helping organizations maintain and manage their domains of knowledge and information. When networks are enabled and flourish, their value to all users and to the organization increases as well. That increase in value is typically nonlinear, where some additions yield more than proportionate values to the organization (McCluskey and Korobow, 2009). Some of the key characteristics of social software applications
Significance of the Study This study is significant because it sheds light on a very important contributor to local and international trade. Trade fairs have a long history in providing a meeting place for buyers and sellers. They are an important channel of communication for B2B buyers and sellers. This is a significant area for study because there are limited channels of communication between B2B buyers and sellers. The previous sections
Hisory of Palliatve Care Palliative Care Palliative Care Methods Palliative care entails assisting patients get through pain caused by different diseases. The patient may be ailing from any diseases, be it curable or untreatable. Even patient who are sick and almost passing away will need this care. Palliative care has characteristics that differentiate it to hospice care. The key role for palliative care is to help in improving the existence of someone and
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