INTERNATIONAL HARMONIZATION OF ACCOUNTING Harmonization vs standardization Harmonization - A process of increasing the compatibility of accounting practices by setting bounds to their degree of variation. Eg. EU Commission Standardization – The imposition of a more rigid and narrow set of rules. Eg. IASB Reasons for harmonization Pressure comes from those who regulate‚ prepare and use financial statements. 1) Investors and financial analysts • Need to be able to understand
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Purpose: Our purpose is to answer the question: What is the international harmonisation process of Accounting Standards‚ what is its status quo and how important is the International Accounting Standard Board (IASB) in it? Realisation: In order to fulfil this purpose‚ we have chosen a descriptive approach‚ which is based on secondary data from textbooks‚ articles and homepages. Result: The international harmonisation of Accounting Standards is a process‚ which brings international Accounting Standards
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The difference between ascribed and achieved status is that ascribed status are that you get born in to. For example a child is born into a family with a very respected family history. Then the child who is just born gets that same title as anyone else that would be in the family. As for achieved is what you work for and get to over a lifetime. One example is working hard and going beyond what people expected for you. Building your name and letting people know who you are. A reference group is when
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Argument Against Harmonization As stated in the book‚ International Accounting: A User Perspective‚ harmonization is defined as “the process by which differences in financial reporting practices among countries are reduced with a goal of making financial statements more comparable and decision-useful across countries.” Harmonization would require that all countries comply with an international set of standards. There has been a large debate over the need for harmonization ever since the 1960’s and
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THEODORE ROOSEVELT & THE NATIONAL PARK By: Maliek Perkins 11th grade Ms. Dozier 5th Period Jonesboro High School President Theodore Roosevelt & National Parks There can be nothing in the world more beautiful than the Yosemite‚ the groves if the giant sequoias and redwoods‚ the canyon
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What Is Justice And How Can It Be Achieved? There is much talk about justice today‚ fighting a just war‚ how justice will be served on the terrorist and justice will prevail‚ living in a just world etc.‚ but it is not at all clear to us what it meant when justice is used in these ways. I searched online for justice and what I came up with is the following headings: Department of Justice Bureau of Justice International Court of Justice Criminal Justice The Court of Justice Juvenile Justice
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Discuss critically the need for international accounting harmonization and assess the success of the attempts at international harmonization and standardization that have been made up to the present time For decades‚ entities across the world have been using a range of different accounting standards derived from various accounting models. Weber (1992) states that there have historically been four accounting standards models from different areas of the globe: the United Kingdom‚ Continental Europe
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Kirat Hundle 1. What is the difference between an element and a compound? An element is an isotope made of the number of neutrons it has. A compound is a substance made of two or more different elements (a mixture). 2. What is the periodic table? A periodic table is where the chemical elements are organized based on their atomic number (number of protons in the nucleus)‚ electron arrangement‚ and chemical properties. 3. Give two examples of each of the four major mineral groups (silicates‚ carbonates
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of the military‚ but there are two branches that are always up for debate on which to join. Active Army and National Guard have many differences‚ such as deployment rates‚ retirement‚ and command; however‚ they are similar in training‚ rank‚ and pay. The Army‚ Navy and Marine Corps were established in 1775 in concurrence with the American Revolution. The war department was established in 1789 and was the precursor to what is now the Department of Defense (DOD). One year later‚ in 1790 the Coast Guard
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QUESTIONS FOR MID-TERM EXAM 1. All the users of interested parties (users of information) have equal possibility/rights/power to get company’s financial information. Do you agree with this statement (give you arguments)? How financial statements are useful to the various interested parties (users of information)? Financial accounting’s aim is to allow all the users of interested parties to understand firm’s situations in global and synthetic way. The financial statement produce information
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