Normative ethics Normative ethics is the branch of philosophical ethics that investigates the set of questions that arise when we think about the question “how ought one act morally speaking?” Normative ethics is distinct from meta-ethics because it examines standards for the rightness and wrongness of actions‚ while meta-ethics studies the meaning of moral language and the metaphysics of moral facts. Normative ethics is also distinct from descriptive ethics‚ as the latter is an empirical investigation
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should record sales revenue in January 2010 of what? Present value of annuity due PVad = [ $80‚000 x f( n=7‚ i=10%)] x (1+.10) PVad = $80‚000 x 4.868 x 1.10 = $428‚384 2.) On January 1‚ 2010‚ Haley co. issued ten-year bonds with a face amount of $2‚000‚000 and a stated interest rate of 8% payable annually on January 1. The bonds were priced to yield 10%. What was the total price of the bonds? Requires both Present value of a single sum and ordinary annuity PVss = $2‚000‚000 x f(
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The following are three online journals of Historical Cost and Fair Value: 1. Summary of HISTORIC COST VERSUS FAIR VALUE In accounting historical cost is the original or nominal amount of money paid for asset rather than inflation adjusted price. In other words it is the resource given up or a liability incurred to acquire an asset. The historical cost principle states that the asset should be reported at it cost (cash or cash equivalent amount) at the time of exchange and should include all
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6110 Financial Accounting Theory Fall 2011 Professor Kevin C. K. Lam Room 1016 Chung Yu Tung (CYT) Building The Chinese University of Hong Kong Phone: 2609-7894 E-mail: kevinlam@cuhk.edu.hk Webct: http://webct.cuhk.edu.hk Course Scope and Objectives Financial Accounting Theory is concerned with the models‚ hypotheses‚ and concepts that together form the foundation for financial accounting practice. This course introduces modern financial accounting theories and integrates accounting
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influence and normative social influence. • Informational social influence or “social proof”‚ our desire to be right in situations in which the correct action or judgement is not obvious and we need information. Example: On your way to a concert‚ but not sure where the entrance is‚ lots of people are going in a certain direction‚ you follow everyone else. You follow because you lack the information so you do whatever everyone else is doing (they must know something you don’t know). • Normative social influence
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of normative development is a complex and much debated one. It is an issue that is continually researched by scientists and psychologists alike as they seek to understand the changing processes that shape development over the human lifespan. One of the fundamental questions that underlie this research is whether normative development actually exists. The volume of statistical data on normative development is constantly changing and growing adding greater complexity of the issue. Normative development
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Positive and normative statements The importance of detecting bias in arguments Whenever you are reading articles on current affairs it is important to be able to distinguish between objective and subjective statements. Often‚ the person writing an article has a particular argument to make and will include subjective statements about what ought to be or what should be happening. Their articles carry value judgements; they are trying to persuade you of the particular merits or demerits of
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Under fair value accounting‚ earnings of a firm constitutes three broad components namely asset income‚ realized gains and unrealized gains. What impact does this have on a firm’s earnings quality given that the main shift from current accounting standards is the inclusion of unrealized gains into earnings computation? Often‚ it holds true that what matters is not how much a firm makes‚ but how it makes its money . Investors value earnings that are sustainable‚ inherent to a firm’s business and
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Western Michigan university | Is It Fair to Blame Fair Value Accounting for the Financial Crisis? | By Robert C. Pozen | | Luma Raha | 10/12/2011 | The article from the Harvard Business Review‚ "Is it Fair to Blame Fair Value Accounting for the Financial Crisis?" ‚ author Robert Pozen stipulates that the fair value accounting principles did not cause the financial crisis of 2008‚ but certainly aggravated it by common misconceptions about accounting standards. The article defines
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POSITIVE AND NORMATIVE ECONOMICS Positive economics deals with what is with how the economy works‚ plain and simple. If we lower income tax rates in the United States next year‚ will the economy grow faster? If so‚ by how much? And what effect will this have on total employment? These are all positive economic questions. We may disagree about the answers‚ but we can all agree that the correct answers to these questions do exist— we just have to find them. Normative economics concerns itself with
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