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Accounting Standards in the E.U., 2005.
A look at international accounting standards into the European Union.
4,050 words (approx. 16.2 pages), 15 sources, £ 111.95
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Abstract
This paper deals with the harmonization of the international accounting standards into the European Union as well as other countries around the world. It has several historical components.
From the Paper
"What began as a method to unify industries, specifically coal and steel, between France and a few western European countries in 1951, has today grown into a 25-country conglomerate. However in its humble beginning it was comprised of only 6 members and those countries were: Belgium, West Germany, Luxembourg, France, Italy and the Netherlands. At the time the only concern was to improve their industries especially in the years following World War II ("History of the E.U."). Today the E.U. is comprised of several countries, 25 in total. They are listed below: Austria, Belgium, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, United Kingdom (Scott 71). "
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International Accounting Standards, 2007.
This paper examines the need for a universal set of accounting standards.
3,559 words (approx. 14.2 pages), 10 sources, MLA, £ 68.95
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Abstract
The paper discusses the many advantages of having one global set of accounting standards that would improve the quality of financial reports and investment decisions. The paper looks at the IAS or International Accounting Standards proposal that will determine one set of accounting standards. The paper concludes that if the United States were to impose a broad and ill-defined system of accounting standards, companies would challenge every standard, trying to define the system in their favor.
Outline:
Pros And Cons Of Having One Global Accounting Standard
Preparers, Users and Regulators of the International Accounting Standards
Types of Companies; Listed vs. Unlisted, Large v. Medium v. small, Domestic v. International, Public v. Private
Political Process of Standard Setting; Rules Based, Principal Based
Examples of Three Different Countries; Compare Their Accounting Practices
Conclusion
From the Paper
"The new electronic interdependence recreates the world in the image of a global village." (McLuhan (1962 (1996, p. 31). There are many advantages of having one global set of accounting standards that will provide society with a crucial service not only in the United States, but in other countries as well. In recent years there has been shameful accounting methods used in which billions of dollars in retirement wealth and investments have had great financial losses. Because of these slanderous actions, the integrity and the ability to survive these accounting services have been questioned. Globalizing international trade by using a set of global accounting standards has had a tremendous effect in the way business is conducted. (Pagiavlas 1)"
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SEC Concept Release on International Accounting Standards, 2002.
A summary of the concept release put out by the U.S. Security and Economic Commission (SEC) on International Accounting Standards.
1,005 words (approx. 4.0 pages), 3 sources, MLA, £ 24.95
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Abstract
The paper shows that the increased globalization of companies has led to a dilemma for investors because accounting standards in various capital markets are not always reliable. It shows too that in an effort to increase the reliability of financial information in capital markets the SEC seeks to maintain the high quality of financial reporting in the U.S., while working towards establishing a high quality financial reporting structure worldwide. This paper summarizes the issues presented in the SEC?s concept release on International Accounting Standards. These issues include: the five elements of global financial reporting; exceptions to rules for foreign private issuers using accounting standards that differ from GAAP; and the three criteria for assessing the International Accounting Standards Committee.
From the Paper
"Rigorously interpreted and applied: The development of high standards does not ensure that the standards will be upheld. In order for the standards to be practiced consistently accountants have to understand the responsibility they have in applying these standards consistently and in a manner that is needed to ensure high quality. This understanding only comes when regulators including auditors, rigorously interpret and apply these standards to accounting standards around the globe. The SEC contends that IASC standards are not used in many capital markets, which makes it impossible for them to be interpreted or applied. In addition countries that do utilize IASC standards have yet to incorporate the new changes created by the IASC."
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International Accounting Standards, 2005.
A discussion of the international movement towards common accounting standards for all countries and the United States' role.
1,611 words (approx. 6.4 pages), 5 sources, MLA, £ 36.95
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Abstract
The paper discusses the international movement towards common accounting standards for all countries, and how, as a major economic power, the United States has an important role to play in the matter. The paper further examines the standards that have been developed by the International Accounting Standards Board (IASB). The paper concludes with an analysis of America's current practices, focusing on the four Statements of Federal Financial Accounting Concepts abd addressing the main objectives behind federal financial reporting. It looks at the identification of the organization doing the reporting and presents a discussion of issues that are related to the preparation of management's discussion. The paper also presents an analysis of the financial statements.
Table of Contents:
Introduction
Analysis
Conclusion
End Notes
References
From the Paper
"The present system is to capitalize the asset as per international accounting standards. The expenses that are being talked about are under in process research and development. Apart from this FASB has decided that capitalization of IPR&D will only apply to business combinations. When assets are purchased, and they are not viewed as businesses under GAAP in US, would continue to have IPR&D as expenses."
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Financial Accounting Standards Board, 2007.
A discussion of the Financial Accounting Standards Board (FASB) 128 and examples of its application.
1,571 words (approx. 6.3 pages), 4 sources, APA, £ 35.95
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Abstract
This paper discusses the purpose of the Financial Accounting Standards Board (FASB), which is to constantly monitor the condition of the financial accounting standards for their relevance to current market developments in order to foresee any probable problem areas and deliver secure functioning of companies, big and small investors and government as a whole. Specifically, the paper provides an explanation of FASB 128 and gives examples of its application.
Table of Contents:
Introduction
Explanation of FASB 128 and Examples of Application
From the Paper
"Thus, the financial accounting standard 128 requires the company to clearly state all the facts they include in the arriving at the earnings per share and diluted earnings per share ratio which is further on must be reported in the company income statement and thus reveal relevant information to the investors probable and those already holding the company stock. In order to avoid any misunderstanding on the actual company financial information as the number of financial derivatives has increased greatly during the recent past, the standard requires the derivatives such as options, warrants, contingently issuable shares or employee performance measures which can be convertible into common stock, to be accounted for as common stock at the most profitable price for the investors, or the market value for the conversion."
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Financial Accounting Standards, 1992.
An overview of the Financial Accounting Standards Board and the development of standards of accounting for research and development costs.
1,350 words (approx. 5.4 pages), 2 sources, £ 32.95
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From the Paper
"Background Review on the Development of Statement of Financial Accounting Standards No. 2: Accounting For Research and Development Costs
One of the first tasks undertaken by the Financial Accounting Standards Board (FASB) following its establishment in 1973 was to place ?on its technical agenda a project on ?Accounting for Research and Development and Similar Costs?? (Financial Accounting Standards Board, 1974, p. 9). The project was placed on the Board?s technical agenda in April 1973. The Board noted that, in 1972, total research and development expenditures in the United States approximated $30 billion, of which approximately $20 billion were made by business enterprises. The remaining research and development expenditures were made by government, research universities, and..."
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Accounting Standards, 2002.
This paper examines accounting standards FASB 125 and 140.
900 words (approx. 3.6 pages), 4 sources, £ 24.95
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Abstract
This paper is about FASB 125 and 140. Statement of Financial Accounting Standards 125 and Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities, issued in 1996, were replaced by FASB Statement 140 and Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities, in 2000. The former Statement needed clearer language. Statement 140 also resolved certain implementation issues about the transfers of financial assets and carried forward most of the provisions of Statement.
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International Accounting Standards, 2005.
A discussion on adopting international accounting standards.
2,300 words (approx. 9.2 pages), 11 sources, MLA, £ 54.95
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Abstract
This paper discusses whether or not Quaccess should move to adopt international accounting standards. It considers the role of financial statements and international implications. The author concludes that American firms should wait and see before moving toward adopting international standards.
From the Paper
"Accounting is sometimes referred to as the language of business. Financial statements and accounting pronouncements are used by stakeholders in organizations-shareholders employees creditors ..."
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The Financial Accounting Standards Board (FASB), 2007.
This paper evaluates the conceptual framework developed by the Financial Accounting Standards Board (FASB).
1,225 words (approx. 4.9 pages), 5 sources, APA, £ 28.95
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Abstract
This paper explains that the objectives of the FASB's conceptual framework are to identify the goals and purposes of financial reporting and their underlying fundamentals; however, it is more than two decades old and has fallen behind the times especially in the area of currency and scope. The author points out that, despite the best attempts by the FASB to provide frameworks and standards to regulate accounting practices, unethical management always seems to discover loopholes to make their accounting statements say whatever they want them to say. The paper states that principle-based standards help management work with auditors to exercise professional judgment in determining appropriate accounting; nonetheless, rules-based accounting does more to promote consistency and adherence to guidelines.
Table of Contents:
The Conceptual Framework Developed by the FASB
The Role and Ethical Considerations
Principles-Based Accounting vs. Rules-Based Accounting
From the Paper
"Some believe the solution for preventing unethical accounting conduct is to regulate as many accounting translations as possible. While closing loopholes should certainly be an objective of standards setting bodies such as FASB, unethical people will always find a new and better way to behave unethically if their corporate culture allows or encourages unethical behavior or if people behaving unethically simply believe they will not be punished for their conduct. Increasingly, accountants need to be trained in ethics in addition to improving financial skills."
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The International Accounting Standards Committee ( IASC ), 1995.
Explanation of the reasoning behind, and the structure of the International Accounting Standards Committee (IASC). Some pronouncements of the agency and problems in member country compliance are discussed.
1,575 words (approx. 6.3 pages), 10 sources, £ 38.95
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From the Paper
"The International Accounting Standards Committee
The International Accounting Standards Committee was formed in 1972, in an effort to standardize accounting procedures amongst the international investment community (Feldman & Herbert, 1977). The widespread adaptation of IASC standards is dependent upon the pressure applied by the large international financial institutions, stock exchanges, and accounting firms (Cummings, 1974). The overall objectives of the IASC are to ensure that accounting standards in each member country conform to IASC set standards (Slipkowsky, 1986). Independent auditors are available to satisfy the authenticity of these financial standards. Noncompliance in reference to IASC standards are noted in issued audit reports (Feldman & Herbert, 1977)."
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"China's Economy: U.S. and E.U. Get Tough on Textiles", 2005.
A review of the article "China's Economy: U.S. and E.U. Get Tough on Textiles".
900 words (approx. 3.6 pages), 5 sources, £ 24.95
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Abstract
"This paper discusses an article from the Economist Intelligence Unit, a publication of The Economist, entitled "China's Economy: U.S. and E.U. Get Tough on Textiles" as it relates to the price pressures on apparels in the U.S. market. These issues are examined from a macroeconomic perspective with an emphasis on Keynesian and neo-classical macroeconomic theory.
From the Paper
"Following the end of quotas on textile imports from China as of 1 January 2005, both the United States (US) and the European Union (EU) have witnessed a massive influx of textile imports from China: "U.S. imports of Chinese clothing swelled in January, a rush of new products following the end of international quotas that for decades had limited global apparel trade" (Chinese, 2005, para.1). While increases have been across the board, three categories in particular have seen huge increases: cotton knit shirts, blouses and cotton trousers, and these have been targeted for renewed protectionist quotas by both the US and the EU (China, 2005, para.2). "
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The Financial Accounting Standard Board, 2006.
A discussion of the history and purpose of the Financial Accounting Standard Board.
1,416 words (approx. 5.7 pages), 5 sources, MLA, £ 32.95
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Abstract
This paper gives a background of the purpose and history of the Financial Accounting Standard Board, or the FASB. The FASB was founded with the primary goal of devising the Generally Accepted Accounting Principles in United States. The paper also defines the roles of the various organizations that fall under the umbrella of the FASB, such as the SEC and the PCAOB. The paper focuses additionally of the role of ethics in accounting, especially in relation to the Standards creating by the FASB.
Explain the FASB, SEC and PCAOB
Discuss the Relationship among the FASB, SEC, and PCAOB
Explain Basic Accounting Theories, Assumptions, and Principles
Evaluate the Role of Ethics in Accounting
From the Paper
"To cater to the basic objectives the financial statement is required to be relevant, to be reliable, being comparable as well as being consistent. So as to accomplish its basic objectives the GAAP is required to base on four hypotheses such as Economic Entity Assumption-that assumes the isolation of business from its owners or other businesses; Going Concern Assumption-that assumes the long term operation of business; Monetary Unit Assumption that assumes a stable currency as the unit of record; Periodicity Assumption that assumes the periodical record-ability of the business operations enabling comparison between present and past performances. "
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Statement of Financial Accounting Standards No 16, Prior Period Adjustments, 1993.
A look at its background, provisions, purpose, pros and cons.
900 words (approx. 3.6 pages), 3 sources, £ 21.95
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From the Paper
"This research examines Financial Accounting Standards Board (FASB) Statement of Financial Accounting Standards No. 16, Prior Period Adjustments. Of particular interest in this examination are the reasons prompting the development of Statement No. 16, the provisions of Statement No. 16, and the key issues addressed by the FASB in the development of Statement No. 16, including a consideration of arguments pro and con on the issues addressed.
In the mid-1970s, the American Institute of Certified Public Accountants (AICPA) Committee on SEC Regulations requested that the FASB consider the criteria for prior period adjustments, as those criteria were stated in APB Opinion No. 9, Reporting the Results of Operations, and provide further guidelines for the application of such criteria.1 APB Opinion No. 9 stated, among other things, that prior period adjustments were limited to the..."
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Financial Accounting Standards Board, 1997.
Examines its history, purpose, accomplishments, powers, procedures and publications. Looks at conflict with corporations, its leadership and future.
2,250 words (approx. 9.0 pages), 13 sources, £ 54.95
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From the Paper
"THE FINANCIAL ACCOUNTING STANDARDS BOARD
Introduction
This research examines the Financial Accounting Standards Board (FASB). The examination begins with a brief history of the FASB and a consideration of the purpose of the organization. Major accomplishments of the FASB are discussed, and the current debate surrounding the FASB are addressed.
Purpose and History of the FASB
Financial accounting is concerned with recording the actual financial activities of an organization. The purpose of financial accounting, thus, is to provide the financial information necessary for an organization to do its job and for an organization to be able to accurately report its performance to investors, creditors, and governmental agencies. Public confidence.."
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