423 Accounting Theory & Practice TOPIC 5: ACCOUNTING STANDARD SETTING Chapter 7 SHD Learning Outcomes At the At the end of this lecture‚ students should be able to explain: ✓ The three theories proposed to understand the process of regulation – public interest‚ regulatory capture and private-interest theory ✓ a comparison of the free market and regulatory approaches to standard setting ✓ International standard setting ✓ Standard setting in Malaysia Introduction • Since 1960s‚
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Introduction The overall objective of this experiment is to determine the mass percent of NaClO‚ sodium chloride‚ in standard bleach. The purpose of part 1‚ is to standardize Sodium Thisulfate‚ Na2S2O3‚ with the primary standard Potassium Iodate‚ KIO3. The standardized Na2S2O3 will then be used in Part 2‚ to help determine the mass percentage of sodium chloride in bleach. The chemical equation used in standardizing sodium thisulfate is‚ IO3- (aq) + 5I- (aq) + 6H+(aq) ---> 3I2 + 3H2O followed
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Rather than dictating social standards by occupation or position‚ South Korea has a distinct traditional social system based off of age. For example‚ if two people go out to eat‚ the older person usually pays for the meal. Also‚ in a conversation with people of different ages‚ the young use formalities while the old speak casually. Traditional South Korean culture echoes the strict beliefs of the Renaissance times in regards to social standings. The Chain of Being defines the hierarchy of all things
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STANDARD COSTING VARIANCES Materials Actual Production X X X Vs. Standard Usage Standard Price Actual Usage Actual Production X X X Vs. Standard Usage Standard Price Actual Usage Actual Price Actual Price Total Variance Actual Production X X X Vs. Standard Price Actual Usage Actual Usage Actual Production X X X Vs. Standard Price Actual Usage Actual Usage Price Variance Actual Price Actual Price Standard Price Standard Price Actual Usage
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Universal Accounting Standards Issue The internationalization of business activities has increased exponentially over the past 3 decades. Because the accounting standards and practices of different countries have developed in response to diverse environments‚ accounting has developed with strong national accents . As a result‚ multinationals with branches and investments in a wide array of countries find it difficult to achieve a consolidated financial report. Further‚ investors in these multinationals
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INDIAN ACCOUNTING STANDARDS - A PERSPECTIVE The paradigm shift in the economic environment in India during last few years has led to increasing attention being devoted to accounting standards as a means towards ensuring potent and transparent financial reporting by corporate. Further‚ cross-border raising of huge amount of capital has also generated considerable interest in the generally accepted accounting principles in advanced countries such as USA. Initiatives taken by International Organisation
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Introduction of the Gold Standard The Gold Standard era started from 1870 to 1914. With the help of historical accidents centering on Britain‚ Britain tied the pound sterling more closely to gold than to silver. In addition‚ Britain’s UK dollar became the supplier of reserve currency. Under the gold standard‚ each country’s government fixed its currency to a specified quantity of gold‚ and promised full convertibility to gold. Each country’s government would sell and or buy gold
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Networking Standard Organizations Introduction Today I’m going to talk about the different organizations there are and the standards they set for networking. These organizations are ANSI‚ EIA and TIA‚ IEEE‚ ISO‚ ITU‚ ISOC‚ IANA and ICANN. They all instruct of a particular product or service. Many different organizations oversee the computer industries’ standards. These standards are essential in the networking world‚ they ensure network designs compatibility. ANSI ANSI (American National Standards
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Principles and Process Standards Worksheet Directions: Go to the NCTM website by using the following directions: 1. Go to http://www.nctm.org/standards/content.aspx?id=4294967312 2. Click on the Standards and Focal Points section from the top navigation bar. 3. Click the Principles and Standards for School Mathematics navigation bar on the left of the page. 4. Click on the Overview section. 5. Click on Standards for Grades Pre-K–2. 6. Click on Standards for Grades 3–5.
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Standard deviation is the square root of the variance (Gravetter & Wallnau‚ 2013). It uses the mean of the distribution as a reference point and measures variability by considering the distance of each score from the mean. It is important to know the standard deviation for a given sample because it gives a measure of the standard‚ or average‚ range from the mean‚ and specifies if the scores are grouped closely around the mean or are widely scattered (Gravetter & Wallnau‚ 2013). The standard deviation
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