Approaches and Theories to standard setting in Accounting

Business & Finance, Accounting
Cover of the book Approaches and Theories to standard setting in Accounting by Panagiotis Papadopoulos, GRIN Publishing
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Panagiotis Papadopoulos ISBN: 9783656064978
Publisher: GRIN Publishing Publication: November 23, 2011
Imprint: GRIN Publishing Language: English
Author: Panagiotis Papadopoulos
ISBN: 9783656064978
Publisher: GRIN Publishing
Publication: November 23, 2011
Imprint: GRIN Publishing
Language: English

Essay from the year 2011 in the subject Business economics - Accounting and Taxes, grade: 64, University of Westminster (Westminster Business School), course: Financial Accounting and Policy, language: English, abstract: Since the financial crisis in 2008 the topic regulation of the markets at all revived. The world was looking for guilty parties in Rating agencies, financial institutions, governments and lastly audit firms and institutions which gave them their working framework - the accounting standards. On the one hand the scream for more regulation in the private sector to protect the public good became louder and on the other hand scientists were warning of such overbearing steps because they would be damaging the economy. This issue provides the basis for this paper where accounting is seen as an eco-nomic good. Accounting information is not costless to produce for the corporations and it raises compliance costs. On the one hand managers are using accounting rules that minimize information costs and on the other hand shareholders want ac-counting rules that improve their ability to control and monitor the manager's action. Theoretically, financial accounting and reporting should be objective, neutral and apolitical. However, the standard setting process can be influenced by external groups with different interests.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Essay from the year 2011 in the subject Business economics - Accounting and Taxes, grade: 64, University of Westminster (Westminster Business School), course: Financial Accounting and Policy, language: English, abstract: Since the financial crisis in 2008 the topic regulation of the markets at all revived. The world was looking for guilty parties in Rating agencies, financial institutions, governments and lastly audit firms and institutions which gave them their working framework - the accounting standards. On the one hand the scream for more regulation in the private sector to protect the public good became louder and on the other hand scientists were warning of such overbearing steps because they would be damaging the economy. This issue provides the basis for this paper where accounting is seen as an eco-nomic good. Accounting information is not costless to produce for the corporations and it raises compliance costs. On the one hand managers are using accounting rules that minimize information costs and on the other hand shareholders want ac-counting rules that improve their ability to control and monitor the manager's action. Theoretically, financial accounting and reporting should be objective, neutral and apolitical. However, the standard setting process can be influenced by external groups with different interests.

More books from GRIN Publishing

Cover of the book South African foreign policy and SADC goals - lockstep or deadlock? by Panagiotis Papadopoulos
Cover of the book 4 Jahre Enforcement in Deutschland by Panagiotis Papadopoulos
Cover of the book Uniformierte Jugend - Ein Vergleich der Jugendorganisationen des Dritten Reiches und der DDR by Panagiotis Papadopoulos
Cover of the book Teaching grammar: approaches and methods by Panagiotis Papadopoulos
Cover of the book Standard Costing, Variance Analysis and Decision-Making by Panagiotis Papadopoulos
Cover of the book The Efficient Market Hypothesis and its Validity in Today's Markets by Panagiotis Papadopoulos
Cover of the book Thelma & Louise (1990): Western Myth with gender change by Panagiotis Papadopoulos
Cover of the book Nationalism in Quebec by Panagiotis Papadopoulos
Cover of the book Intercultural aspects of Mergers & Acquisitions in consideration of the Chinese market by Panagiotis Papadopoulos
Cover of the book An analysis of Ernest Hemingway's 'Hills like White Elephants' by Panagiotis Papadopoulos
Cover of the book The vowel and diphthong system in scottish standard english by Panagiotis Papadopoulos
Cover of the book Grammatik und Lyrikverstehen by Panagiotis Papadopoulos
Cover of the book 'Take Pity' by Bernard Malamud by Panagiotis Papadopoulos
Cover of the book Key Supply Chain Performance Indicators by Panagiotis Papadopoulos
Cover of the book MNEs and their hosts: an impact assessment on Turkey by Panagiotis Papadopoulos
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy