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Author: Stephen A. Zeff
Publisher:
ISBN: 9781680838640
Category :
Languages : en
Pages : 126
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Book Description
Evolution of U.S. Regulation and the Standard-Setting Process for Financial Reporting: 1930s to the Present surveys and explains the evolution of the stream of events and developments in the regulation and standard setting that have set the requirements for companies' financial reporting in the U.S. capital market. Particular attention is given to instances in which the SEC, as regulator, has either been in disagreement with the private-sector accounting standard setter, or where they both have partnered in a solution. Attention is also given to some of the more celebrated attempts by self-interested parties, particularly the company sector, to interpose themselves forcefully into the standard-setting process. The interventions from members of Congress on behalf of the company sector are also the object of study. In this rendering of the evolution, the author has endeavored to provide extensive references to the published literature to enable readers to study the events and developments in greater depth.
Author: Stephen A. Zeff
Publisher:
ISBN: 9781680838640
Category :
Languages : en
Pages : 126
Get Book Here
Book Description
Evolution of U.S. Regulation and the Standard-Setting Process for Financial Reporting: 1930s to the Present surveys and explains the evolution of the stream of events and developments in the regulation and standard setting that have set the requirements for companies' financial reporting in the U.S. capital market. Particular attention is given to instances in which the SEC, as regulator, has either been in disagreement with the private-sector accounting standard setter, or where they both have partnered in a solution. Attention is also given to some of the more celebrated attempts by self-interested parties, particularly the company sector, to interpose themselves forcefully into the standard-setting process. The interventions from members of Congress on behalf of the company sector are also the object of study. In this rendering of the evolution, the author has endeavored to provide extensive references to the published literature to enable readers to study the events and developments in greater depth.
Author: A. Bowdoin Van Riper
Publisher: Bloomsbury Publishing USA
ISBN: 0313008574
Category : Business & Economics
Languages : en
Pages : 214
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Book Description
The book begins with an overview of how and why the present self-regulatory arrangement for setting standards for financial reporting in the private sector came about in 1973. A brief description of the new structure is followed by a discussion of the essential elements of meaningful self-regulation. A schism emerged between advocates of neutrality and objectivity in standard setting and those who think the primary concern should be for possible economic and social consequences. Early clashes between traditional views and newer insights are described, setting the stage for an account of serious resistance to change. Powerful interests mount determined efforts to thwart the standard setters, undercutting not only self-regulation, but also the intent of the federal securities acts of 1933 and 1934. The practical and philosophical bases for the opposing views are examined, and recommendations are presented for ensuring continuation of private-sector standard setting despite the intensity of these views.
Author: Robert Van Riper
Publisher: Praeger
ISBN: 0899309070
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
The book begins with an overview of how and why the present self-regulatory arrangement for setting standards for financial reporting in the private sector came about in 1973. A brief description of the new structure is followed by a discussion of the essential elements of meaningful self-regulation. A schism emerged between advocates of neutrality and objectivity in standard setting and those who think the primary concern should be for possible economic and social consequences. Early clashes between traditional views and newer insights are described, setting the stage for an account of serious resistance to change. Powerful interests mount determined efforts to thwart the standard setters, undercutting not only self-regulation, but also the intent of the federal securities acts of 1933 and 1934. The practical and philosophical bases for the opposing views are examined, and recommendations are presented for ensuring continuation of private-sector standard setting despite the intensity of these views.
Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 294
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Book Description
Author: Jayne Maree Godfrey
Publisher: Edward Elgar Publishing
ISBN:
Category : Accounting
Languages : en
Pages : 336
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Book Description
1. Globalisation of accounting standards : an introduction / Jayne M. Godfrey and Keryn Chalmers -- 2. Institutional investors and the language of finance : the global metrics of market performance / Gordon L. Clark, Tessa Hebb and Dariusz Wójcik -- 3. The IASB : some personal reflections / Kevin M. Stevenson -- 4. Globalisation of accounting standards : a UK perspective / David Alexander -- 5. The US role in the globalisation of accounting standards / Donna L. Street -- 6. The place of Canada in global accounting standard setting : principles versus rules approaches / James C. Gaa -- 7. Too special to go global? Too small to be special? : an insight into Australia's decision to adopt IFRS and the consequences for its own standard setting and application / Ruth Picker -- 8. The role of national standard setters in the standards development process : the Italian experience / Angelo Provasoli, Pietro Mazzola and Lorenzo Pozza -- 9. French accounting revolution : implementing IFRS in French companies / Serge Evraert and Jean-François des Robert -- 10. Accounting regimes and their effects on the German stock market / Hans Peter Möller -- 11. Globalisation of accounting : implications for Australian public sector entities / Keryn Chalmers ... [et al.] -- 12. Convergence of Chinese accounting standards with international standards : the Japanese case / Chitoshi Koga and Gunnar Rimmel -- 13. The impact of globalisation of accounting standards on India / R. Narayanaswamy -- 15. Globalisation of financial reporting : an Islamic focus / Norita Mohd Nasir and Anita Zainol -- 16. Globalisation and accounting reforms in an emerging market economy : a case study of South Africa / Iain Edwards ... [et al.].
Author: Ian Dennis
Publisher: Routledge
ISBN: 1134451458
Category : Business & Economics
Languages : en
Pages : 142
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Book Description
Accounting standards are an essential element in the regulation of current financial reporting. Standard setters promulgate such standards, and companies and professional accountants follow them in preparing financial reports. Although much has been written about the history of standard setting, the conceptual underpinnings of accounting standards, the process of setting them, and whether such standards should be ‘rules-based’ or ‘principles-based,’ there has been little written about the kind of thing they are. This book examines the nature of accounting standards and the very idea of a rule, of implementation guidance, and of the objectives that are included in them. It enables the reader to grasp the reasons for promulgating standards, the role of the conceptual framework in setting standards in an institutional context, and the kind of rules that are useful in regulating financial reporting. The insights provided by this examination are used to throw light on the distinction between ‘principles-based’ and ‘rules-based’ standards and on the nature of ‘good’ accounting standards.'
Author: United States Government Accountability Office
Publisher: Lulu.com
ISBN: 0359536395
Category : Reference
Languages : en
Pages : 234
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Book Description
Audits provide essential accountability and transparency over government programs. Given the current challenges facing governments and their programs, the oversight provided through auditing is more critical than ever. Government auditing provides the objective analysis and information needed to make the decisions necessary to help create a better future. The professional standards presented in this 2018 revision of Government Auditing Standards (known as the Yellow Book) provide a framework for performing high-quality audit work with competence, integrity, objectivity, and independence to provide accountability and to help improve government operations and services. These standards, commonly referred to as generally accepted government auditing standards (GAGAS), provide the foundation for government auditors to lead by example in the areas of independence, transparency, accountability, and quality through the audit process. This revision contains major changes from, and supersedes, the 2011 revision.
Author:
Publisher:
ISBN:
Category : Corporations
Languages : en
Pages : 520
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Book Description
Author: Gary Giroux
Publisher: Business Expert Press
ISBN: 1631577948
Category : Business & Economics
Languages : en
Pages : 274
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Book Description
Accounting history continues in Volume 2 with six chapters, four supplements, plus conclusions. Chapters 1 to 3 of the second volume cover specialty topics, specifically auditing, taxes, and government accounting. Chapters 4 to 6 march along from the New Deal to beyond the mortgage meltdown and Great Recession. Supplements include audit opinions (the audit reports written for the annual financial audits), the scandals and corruption associated with accounting fraud, the formal standard setting process creating generally accepted accounting principles (GAAP), and finally computer technology, a key component of the accounting profession—and civilization. The concept of accounting as a profession developed by the 19th century, as accounting-related services (bankruptcy, taxes, and auditing) became important enough to hire experts and separate businesses to support these functions. Soon, licensing was required. Auditing and tax proved to be major money-makers for accountants. Accounting firms became mammoth and global (especially the Big 4) providing audit, tax and consulting services to giant multinational corporations as well as smaller business, governments, nonprofits organizations, and individuals. The rest of the book covers accounting since the early 20th century, when accounting became increasingly sophisticated and important to the commercial and political worlds. The 1920 reverted to “free markets,” financial market manipulation and speculation, fueled by abundant credit precipitating a boom; then the Great Depression, followed by FDR’s New Deal. Chapter 5 covers most of the post-World War II period. Chapter 6 covers the bubbles and busts of the late-20th century and beyond, with particular attention to Enron. Conclusions summarize the last 10,000 years of accounting, its overall impact on civilization, and predictions for the future.
Author: Leena Roselli
Publisher:
ISBN:
Category : Corporations
Languages : en
Pages :
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Book Description
This book contains a summary of proposed and final actions as well as other relevant information for U.S. and international standards-setting and regulatory bodies including: Financial Accounting Standards Board (FASB), Financial Accounting Foundation (FAF), Emerging Issues Task Force (EITF), International Accounting Standards Board (IASB), American Institute of Certified Public Accountants (AICPA), Department of the Treasury (Treasury), Internal Revenue Service (IRS), eXtensible Business Reporting Language (XBRL), and Committee of Sponsoring Organizations of the Treadway Commission (COSO). --
