In the last decade‚ various countries around the globe have shifted towards a uniform accounting standards or the International Financial Reporting Standards (IFRS). The main motive behind this movement is to come up with a global language for accounting which will be comparable and understandable beyond the borders of a nation. As of today about 120 countries require IFRS for domestically listed companies‚ although only about 90 countries have fully conformed to IFRS . While some argue that it is
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STANDARD CHARTERED Standard Chartered is the world¶s leading emerging markets bank. SCB is one of the world’s most international banks in terms of the diversity of their people It employs 73‚800 member staff ‚nearly half of whom are women. It has over 125 nationalities represented over bank. The extraordinary growth of its business provides challenging international career opportunities. The Group is committed for upholding high standards of corporate governance
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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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Accounting Standards Boards Increased globalization in the business world has brought to fore some of the issues and challenges that multinational businesses face in financial recording and reporting of foreign based operations. With operations based in different countries that operate under different accounting principles and with varying currencies‚ there has been a need for the accounting principles and standards to be converged. This has in the past nine years seen the accounting policy
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2.1 Accounting standard-setters have an expectation that the readers of general purpose financial reports have a ‘reasonable knowledge’ of accounting. Specifically‚ the IASB Framework states that ‘users are expected to have a reasonable knowledge of business and economic activities and accounting and a willingness to study the information with reasonable diligence’. Hence‚ there is an expectation that financial statements are not tailored to meet the needs of people who have not‚ in some way‚ studied
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RESEARCH: Accounting Standard Codification (ASC) 1. FASB had four primary goals in developing the codification. List these four goals: 1. Simplify user access to all authoritative U.S. GAAP by putting them all in one place with codification 2. Assist FASB with the research and international convergence efforts required during the standard-setting process 3. Become the authoritative source of literature for the completed extensible business reporting language (XBRL) taxonomy 4. Clarify that
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to serve the public interest‚ strengthen the worldwide accountancy profession and contribute to the development of strong international economies by establishing and promoting adherence to high quality professional standards‚ furthering the international convergence of such standards and speaking out on public interest issues where the profession’s expertise is most relevant. This publication may be downloaded free-of-charge from the IFAC website http://www.ifac.org. The approved text is published
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Dr. Edmond Locard’s Exchange Principle states‚ “Any action of an individual‚ and obviously the violent action constituting a crime‚ cannot occur without leaving a trace.” It is hard to say Locard’s Exchange Principle was not disregarded. After three months of expert investigation it was found that the DNA evidence that was discovered at the scene did not belong to Jennifer or Noura. Also Noura’s own DNA was not found at all at the scene of the crime. It is very hard to understand how Noura could
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Daubert and Frye Standard Professor Lance Spivey CJE1641-12Week 11 Criminalistics II By Sandy January 2013 Daubert and Frye Standard Please explain the Frye Standard. 1. The Frye Standard is a standard used to determine the admissibility of an expert’s scientific testimony. A court in which applies the Frye Standard must determine whether or not the method which the evidence was obtained was
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or lie detector test. 3. What document offers an alternative to the Frye standard that some courts believe espouses a more flexible standard for admitting scientific evidence? This would be called the Daubert standard which is when the judge becomes the “gatekeeper” on determining whether or not is a liable expert witness threw a serious of different questionable theories and such. 4. In its decision in Daubert V. Merall Dow pharmaceuticals‚ Inc who did the U.S. Supreme Court charge with
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