delegates the decision-making authority to the manager. The costs of divergent behaviour that arises as a result of the agency relationship are referred to as agency costs. Furthermore‚ Watts and Zimmerman (1978) developed the theory of positive accounting which is focused on the assumption that ‘all individual action is driven by self-interest and that individuals will act in an opportunistic manner to increase their wealth’. Based on Watts and Zimmerman’s theory‚ Deegan suggests that owners would
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As indicated by the American Nurses Association‚ "the Standards of Professional Nursing Practice are legitimate proclamations of the obligations that all enlisted nurse‚ regardless of role‚ population or specialty are relied upon to perform skillfully" (2010‚ p. 2). The American Nurses Association further expresses that the standards can change as the flow of expert nursing develop and that particular clinical conditions or conditions may influence the utilization of the guidelines at any given time
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4:1. What are current liabilities? A. $ 10‚000 B. $ 11‚250 C. $ 15‚000 D. $ 17‚400 E. $ 180‚000 6. Wolfpack‚ Inc. collected $6‚250 on account. The effect of the transaction on the accounting equation is to: A. Increase revenue and decrease expenses. B. Have no effect on total assets. C. Decrease assets and decrease liabilities. D. Increase assets and increase stockholder’s equity. E. Both A and B. 7. The retained
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Fundamental Islamic values to business activities. Islamic Accounting hopes that Islamic organizations abide by the principles of the Shari’ah or Islamic Law in its business activities. There is a prohibition of interest-based income or expense in the business activities according to the Islamic accounting. In Islamic accounting‚ the profit determination is more important. In the reporting of financial statement according to Islamic accounting‚ the reporting must be holistic. Its mean that both financial
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Residential school happened in the past‚ but still affect us in today’s world. Globalization and Residential school’s go hand in hand in the history books. Globalization created the residential schools‚ Euro-Canadian culture was the Canadian government’s foremost concern‚ they created religious schools which accustomed the indigenous children. The church easily made it into a cultural genocide. The children were hominem abused; physical‚ sexual‚ and psychological. The children were malnourished for
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FASB Accounting Standards Codification (ASC) Section 958-605-25 requires that not-for-profits wait to recognize a contribution until they are satisfied that the likelihood is remote that the conditions that accompany the contribution will not be met (Tysiac‚ 2017). According to FASB ASC 958-605-8‚ pursuant to paragraph 958-605-25-2‚ an unconditional promise to give shall be recognized when it is received. There must be satisfactory confirmation that a promise was made and received in the form
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Negative Effects of Globalization Globalization is a very controversial issue today. Opinions vary considerably over its pros and cons. Here we take a look at its negative effects. Globalization is the buzzword of today. The economies of the world are being increasingly integrated. Mobile phones and Internet have brought people closer. The world is becoming a smaller place. Goods‚ which were once confined to western countries‚ are available across the globe. Work can be outsourced to any part of
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AS-19 “LEASES” PRE AS-19 ERA Prior to 1.04.2001 the “Guidance Note on Accounting for Leases” was applicable on leasing industries. This Guidance Note was based on the matching principle i.e. the periodic costs comprising of depreciation and lease equalization charges were recommended to be matched with lease rentals so that the net income from a finance lease will show a true and fair view
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Research Essay – Lewis Carroll The effects of globalisation on Economic growth and the quality of life in China. China holds the second largest economy in the world‚ measured by Purchasing Power Parity (a technique used to determine and compare the relative value of different currencies). From the late 1970’s‚ the Chinese economy has become more market orientated‚ rather than its former closed and planned political system. This change has played a major role in the development of their economy
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maintain a considerable level of ethical standards and practices when undertaking their operations‚ especially with respect to the effects imposed on the local communities in the course of executing their business operations. The business model used by Wal-Mart focuses on the use of low wage labor‚ restricted health benefits to employees and leveraging of government subsidies‚ which are all aimed towards reducing costs (Wal-Mart Movie).
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