Vol. 2‚ No. 2 International Business Research Harmonization of Accounting Standards through Internationalization Nikhil Chandra Shil‚ ACMA (Corresponding Author) Department of Business Administration East West University 43‚ Mohakhali C/A‚ Dhaka – 1212‚ Bangladesh Tel: 9887989(Off.) ext 253‚ 01819289589 (M) Dr. Bhagaban Das P.G. Department of Business Management‚ Fakir Mohan University P. O.: Balasore‚ Pin.: 756019‚ Orissa‚ India E-mail: bhagaban_fm@yahoo.com Alok Kumar Pramanik Department
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What are the attributes of a high quality accounting standard? Globalization is a fact of life in today’s worldwide economy. They are many barriers to achieving a true global market; one of these barriers has to do with accounting standards or the presentation of accounting information. Various users have diverse needs for financial information. Companies in different parts of the world had their own methods in preparing their financial statements. Trying to compare the accounting rules of these
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Governmental Accounting Standards Board (GASB) and Financial Accounting Standards Board (FASB) I realized that both play an important role in the accounting field. There are different objectives for each board and I will explain the similarities and differences. I will describe the role of government regulation in the application of accounting standards and reporting requirements. Finally‚ I will present a situation in a governmental accounting environment in which FASB standards would apply. The GASB
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Accounting Standards Boards Paper University of Phoenix ACC 541—Accounting theory and Research Professor: Cecil B. Lucy Lien Bach October 26‚ 2010 Introduction Accounting was created thousand years ago. Many companies use accounting system to record‚ maintain and report‚ and analyze business financial transactions. Because managers and investors make their business decisions based on Financial Statement‚ information obtained from Financial Statement must be concise and reliable. Budgets
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is The Fair Labor Standards Act? Jacqueline Daniels ACCT 1130 Payroll Accounting Tomeika Williams February 5‚ 2014 Abstract “The Fair Labor Standards Act (FLSA) of 1938 is one of the most important pieces of legislation ever enacted‚ giving a voice to the millions of Americans in our workforce.” (Resource FLSA Law ‚ 2006) Keywords: workforce What is The Fair Labor Standards Act? In 1983‚ President Roosevelt retained the Fair Labor Standards Act‚ which legitimately
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Responsible RECYCLING. Authors: Schmeiser‚ Lisa Source: Macworld‚ Apr2009‚ Vol. 26 Issue 4‚ p60-63‚ 4p‚ 3 Color Photographs Document Type: Article Subject Terms: ELECTRONIC apparatus & appliances -- Recycling MACBOOK (Computer) APPLE Inc. APPLE computers EBAY Inc. CRAIGSLIST Inc. GLOBAL Alerts LLC ELECTRONICS ELECTRIC apparatus & appliances Abstract: The article offers information on several ways to recycle an old Mac computer from Apple Inc. It is suggested to donate the
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On September 28 2010‚ the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) had declared they had completely conducted the first stage of The Conceptual Framework joint project. The purpose of this joint project is to further improve an advanced conceptual framework for International Financial Reporting Standards (IFRSs) and US Generally Accepted Accounting Practices (GAAP) (Norwalk 2010). Basically‚ the conceptual framework is an attempt to express
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Uniformity of Accounting Standard and Conceptual Framework Executive summery Harmonization of the accounting standard and conceptual framework is emerging as a requirement for of the international community. As business cross national boundaries so the transecting parties need uniformity in the financial reporting for better understanding of the business conditions. The process of harmonization gets accelerated by the initiative of the two major standard setting body of the world IASB and FASB
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Page 1. History of International Financial Reporting Standards (IFRS) …………… 2 2. Advantages and Disadvantages of Adopting IFRS ……………….. 4 2.1. Advantages…………………………………………………………………………4 2.2. Disadvantages………………………………………………………………………………..5 3. Similarities and Differences between IFRS and U.S.GAAP......6
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scrutinizing the prevailing accounting standard for the banks and find out the extent of compliance by them. To find out the degree of compliance the study has gone through the annual reports of all the sample banks. Very naturally it is hoped that all of them are required to comply with the standard to uphold the stakeholders’ interest. Banking industry’s nature of operation is totally different .Recognizing this aspect some specific IAS (International Accounting Standard) have been prescribed for them
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