ACCOUNTING REGULATORY AGENCIES Introduction Accounting standards are needed so that financial statements will fairly and consistently describe financial performance. Without standards‚ users of financial statements would need to learn the accounting rules of each company‚ and comparisons between companies would be difficult. Numerous accounting bodies govern the accounting environment and accommodate the success of a business. The four main financial governing bodies include
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Administrative Law and Regulatory Agencies Legal Environment of Business (DEA) Drug Enforcement Agency The administrative agency we decided on was the Drug Enforcement Agency (DEA). It was created by President Richard Nixon in 1973 through an Executive Order to establish unified command to combat. It was formed to regulate and put a stop to drug trafficking. It has nearly 5‚000 Special Agents and a budget of $2.02 billion per year. Also‚ a few more reasons on why it is formed: Manage
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Regulatory Agencies Paper HCS/437 August 18‚ 2014 Joyce Wooten Instructor / Nicolas Gross Regulatory Agencies Paper The concept of regulatory agencies has many boundaries and their responsibility is to license long-term care facilities to ensure compliance of laws and regulations. It is stated that in the United States the long-term care (LTC) marketplace is normally recognized as one of the most strongly regulated sectors in the economy‚ although there are differences
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Regulatory Bodies By Jason Eastridge University of Phoenix XACC/280 Daneene Barton January 28‚ 2012 There are many major regulatory bodies in the financial industry. I found there to be about nine major bodies. First you have the FDIC‚ Federal Deposit Insurance Corporation‚ which insures al major banks deposits. The FDIC also handles and approves any bank mergers and audits. The FED‚ Federal Reserve System‚ basically is the manager of the money supply to banks and handles some banking regulations
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REGULATORY BODIES OF INDIA Financial Stability and Development council: The idea was first mooted in a committee headed by Raghuram Rajan in 1998. It is an apex regulatory body constituted by Government of India. It is an initiative to be better prepared for any future economic meltdown by regulating the economic assets. The aim of the body is to provide a stable financial sector development and inter-regulatory coordination. The body consists of: Chairperson: The Union Finance Minister of
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A few of the key issues in the pharma industry are regulatory and legal Issues‚ long‚ uncertain research and development‚ process access‚ pricing‚ and patent Issues (Williams & Torrens‚ 2008). Pharmaceutical discoveries since the 1950s have helped to cut death rates for chronic as well as acute conditions‚ since the 1960‚ vaccines have greatly reduced the incidence of childhood diseases— many of which once killed or disabled thousands of American children (Williams & Torrens‚ 2008). The drug discovery
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Ethical and Regulatory Issues Paper President Clinton signed the Telecommunications Act of 1996 into law in February 1996. The law modified earlier legislation‚ primarily the Communications Act of 1934. The legislation regulates broadcasting by over-the-air television and radio stations‚ cable television operators‚ satellite broadcasters‚ wireline telephone companies (local and long distance) and wireless telephone companies. The general intention of the Act was deregulation and competition. The
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Online Ethical‚ Legal‚ and Regulatory Issues in B2B versus B2C Introduction Companies doing business on the Web must be certain of their ability to manage the liabilities that can emerge as a result of today’s online business environment. This environment includes laws and ethical factors that are sometimes different from those in the brick and mortar setting. The online environment often forms a network of customers who can have considerable levels of communication with each other. Online businesses
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REGULATORY CAPTURE THEORY Capture theory assumes‚ firstly‚ that all members of society are economically rational. Therefore‚ each individual will pursue his or her self-interest to the point where the private marginal benefit from lobbying regulators just equals the private marginal cost. Regulation has the potential to redistribute the wealth. Therefore‚ people lobby for regulations that increase their wealth. Second‚ the capture view assumes‚ as with public-interest theory‚ that the government
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Regulatory Agency Paper The government agency selected for this article is The Federal Bureau of Prisons also known as (BOP). The federal bureau of prisons role include confining federal offenders in prisons who are humane‚ safe‚ cost-efficient‚ and secure. The Bureau is responsible for helping inmates reduce future criminal activity by encouraging them to join a range of programs that are proven to reduce recidivism. The Federal Bureau of prisons employees assists inmates with programs
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