Harmonisation of accounting standards International accounting harmonisation can be defined as "the process of bringing international Accounting Standards into some sort of agreement so that the financial statements from different countries are prepared according to a common set of principles of measurement and disclosure". Harmonisation means that deviating rules‚ which do not exclude themselves‚ can continue to exist next to each other. That means harmonisation does not focus on the elimination
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Accounting Standards and Their Importance AS-1: DISCLOSURE OF ACCOUNTING POLICIES The following is the text of the Accounting Standard (AS) 1 issued by the Accounting Standards Board‚ the Institute of Chartered Accountants of India on ’Disclosure of Accounting Policies’. The Standard deals with the disclosure of significant accounting policies followed in preparing and presenting financial statements. AS-2: VALUATION OF INVENTORIES A primary issue in accounting for inventories is the determination
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\ The Standard Oil Trust Standard Oil Trust John D. Rockefeller was born on July 8‚ 1839 in New York. He was among one of the richest people in the world. He formed the Standard Oil Trust in 1863‚ by 1868 the company had been established in Ohio‚ at that time it was one of the largest oil refineries in the world. The Standard Oil Company grew to dominate the oil industry and became one of the first
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The case study of Standard chartered: Islamic ethics and social responsibility. Abstract This paper is a case study on Ethisc and Social responsibility as adobpted by Standard Chartered Saadiq‚ paper briefs Islamic concept of ethics and social responsibilities and brief comparison with conventional ethics and social responsibility concept. Paper highlights on business performance by Standard Chartered Saadiq‚ products offered to customers‚ Shariah compliance policy and social reposnibility of
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Professional Standards Web standards promote higher accessibility and usability; it suggests a set of rules in which every developer can follow and understand (Boudreau‚ 2002). Standards set by W3C‚ World Wide Web Consortium‚ will ensure that most browsers used will present the website as it was intended to be‚ without time consuming rewrites of code for specific browsers (W3schools‚ 2013). Accessibility is very important as it allows the web to be used by individuals with disabilities but
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The International Accounting Standard Committee (IASC) came into existence on June 29 1973 when sixteen accounting bodies from nine nations (designated as founder members) signed the agreement and constitution for its formation with headquarters at London. The objective of the committee is "to formulate and publish in the public interest standards to be observed in the presentation of audited financial statements and to promote their worldwide acceptance and observance". This would
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6. Financial Performance Analysis With the help of 5 years balance sheet and income statement managed from the Annual Reports of Standard Bank Limited I have done the following ratio analysis. Financial indicators in the last six years |Item |Ratio |2007 |2006 |2005 |2004 |2003 | |Earning Ability |Return on Equity |20.59% |16.71% |23.16% |16.05%
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DILUTIONS AND STANDARDS Many of the laboratory procedures involve the use of dilutions. It is important to understand the concept of dilutions‚ since they are a hand tool used throughout all areas of the clinical laboratory. These dilutions have to be considered as they make a quantitative difference in what is going on. First‚ there are several terms used in expressing dilution: 1. "Dilution: - Dilutions are expressed as the ratio of the quantity of a desired solute (serum‚ urine‚ chemical solution
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Arsheen Aziz HST 333 Victorian England 4-26-14 The Standard of Living Debate in 18TH Century England The standard of living debate is essentially between two groups of people‚ the pessimists and the optimists. The optimists believe that the standard of living had increased over a specific time. The pessimists believe that it did not increase‚ that for some it actually decreased. Each historian studied the standard of living of the working class in England during the 18th century. There are
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• Case 1-3 Politicalization of Accounting Standards Some accountants have said that politicalization in the development and acceptance of generally accepted accounting principles (i.e.‚ standard setting) is taking place. Some use the term politicalization in a narrow sense to mean the infl uence by governmental agencies‚ particularly the SEC‚ on the development of generally accepted accounting principles. Others use it more broadly to mean the compromising that takes place in bodies responsible
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