Accounting Regulation and Conceptual Frameworks‚ Traditional Arguments for Accounting Regulation – 1) Prevention of fraud – Enron 2) Comparability 3) Asymmetrical information – big institutional investors have more information than small retail investors. Beaver (1981)‚ strongly believes in pro market lobby‚ market solutions are always the best‚ we should never regulate. – Very influential academic – Highly reputable Traditional Arguments against accounting regulation 1) Capture theory – person
Premium Balance sheet Asset
What is Market Failure? In a market where there is equilibrium‚ the resources are allocated in the best possible manner and there is ’allocative efficiency’. Allocative efficiency is when situation where Marginal cost is equal to Marginal revenue. However‚ this is not possible in the real world. Market failure exists when the resources are not allocated efficiently. Community surplus is not maximised and thus there is market failure. From a community’s point of view‚ producer surplus is not equal
Premium Supply and demand Externality Economics
QUESTION ONE What are the main regulations covering the establishment of a day care centre? Every childcare facility should be registered by their local authority as well as OFSTED. The main purpose of the register is to provide information about the day care services in the area to parents and employers. The way in which the register is kept should be decided by each local authority and in doing so the following points should be taken into account. The register should be compiled so that child-minders
Premium Day care Food safety Criminal Records Bureau
Chapter 2: Regulations and Ethics of the profession I- General Rules Article 4 -All engineers (enrolled in the engineers’syndicate) should abide by this list as well as the Syndicate bylaws and internal documents.Any violation affecting the profession or traditions or basic duties would subject the performer to disciplinary accountability according to the bylaw. Article 5 –It is absolutely prohibitedto practice the engineering profession‚ in Egypt‚ for engineers who are not enrolled
Free Engineer Engineering Professional Engineer
The United States has a democratic government which means that the government is supposed to be ran through the people. The interesting fact about that is that the American government was created by ideas that they got from Britain’s parliament (Nardo‚ 1994‚ p. 83). Since these governments are based off of each other‚ they do share a lot of similarities. Although Britain and the United States had comparable growth in their governments from when they started‚ in the end they had and still do have
Premium Separation of powers President of the United States United States
Securities Regulation Outline Introductory Material Financial Products. Two ways to raise money: taking out loans from the bank‚ or issuing securities on the public market. Bank Loans Money in exchange for a promise to pay. Usually secured by some collateral. Commercial lending: one bank is “lead arranger” for others. Reduces exposure. Securities Stock. An ownership interest. Common stock. Voting rights! Dividends. Get paid last in a liquidation. Preferred stock. No voting rights as long as
Premium Securities Act of 1933 Stock Stock market
United States Army regulations are very important. Being a member of the United States Army is a job that must be done correctly by the men and woman who chose to answer the call of duty. These regulations must be followed by all personnel enlisted or officer. These regulations also must be followed by all branches of the army whether you are national guard‚ reserve‚ or active. These regulations are also very important even when you are still in training. If they are not followed it can greatly
Premium Military Soldier United States Army
1) Report about different careers: A. GOVERNMENT ACCOUNTANT A government accountant helps the federal government‚ as well as state and local agencies - record and prepares financial reports in accordance with government accounting principles and professional standards. An accounting specialist also aids federal authorities in evaluating budget data‚ estimating revenue and expense levels‚ and adjusting social programs. Based on theories: Advantages: * Challenging
Premium Audit External auditor Auditing
The Influence of Auditor Independence Regulation on Earnings Quality: An Empirical Analysis of Firms Cross-Listed in the US# Roger Meuwissen Universiteit Maastricht Frank Moers Universiteit Maastricht Erik Peek Universiteit Maastricht Ann Vanstraelen Universiteit Antwerpen and Universiteit Maastricht September 2003 # Corresponding author is Ann Vanstraelen. E-mail address: a.vanstraelen@aim.unimaas.nl. Adress for correspondence: Department of Accounting and Information Management‚ Faculty of
Premium Audit Auditing Auditor's report
Food Hygiene Regulations 2006 What are the regulations? The Food Hygiene (England) Regulations 2006 are supported by European Regulation 852/2004. Who is affected? Anyone who owns manages or works in a food business‚ apart from those working in primary food production such as harvesting‚ slaughtering or milking‚ is affected by these Regulations. They apply to anything from a hot dog van to a five star restaurant‚ from a village hall where food is prepared to a large supermarket‚ or to a vending machine
Free Hygiene