workers and craftsman but found the same outcome with all of them. He stated‚ “O men of Athens‚ that God only is wise; and by his answer he intends to show that the wisdom of men is worth little or nothing” (Plato‚ trans. 1871). Socrates made it his duty in life to analysis and understand the Oracle’s declaration. In the end‚ Socrates concluded that he was the wisest of Athens; but not because he possessed special knowledge but because he recognized his own lack of knowledge while others think they
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on this information‚ the profession of accounting has created several agencies to establish‚ monitor and maintain ethical codes of standards. Because of the widespread applicability of the information contained in the accounting process‚ honest reporting is critical. History has proven repeatedly that the temptation exists to manipulate figures for personal gains and corporate malfeasance. This paper will identify agencies that regulate accounting practices and briefly discuss the basic concepts
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A. The main purpose is to of the (IASB) develop and issue International Financial Reporting Standards and Exposure Drafts‚ and Approve Interpretations developed by the International Financial Reporting Interpretations Committee (IFRIC). B. How is the IASB made up IASB is originally made up of 14 members from different countries with experience covering wide areas of accounting and business. The objectives of the ISAB are: (a) to develop‚ in the public interest‚ a single set of high
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Financial Reporting Google is a publicly traded company which means that customer and stakeholders have access to the company’s financial information. The balance sheet and income statements are the two financial statements which gives a brief summary of a company’s overall financial condition. The balance sheet focuses and report figures of assets‚ liabilities and owner’s equity of the business. Assets are anything that a business has with a value such as furniture‚ liabilities are monies owe to
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Reporting Practices and Ethics HCS/405 April 1‚ 2013 Financial Management of Health Care Financial management is characterized as the management of the finances of a an organization or business in order to accomplish financial objectives. The major goals of financial management are to create wealth for the organization‚ generate revenue‚ and provide successful returns on investments. There are four major functions to financial management: planning‚ controlling‚ organizing and directing‚
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Regulatory framework for financial reporting Introduction In the next couple of pages the author will firstly discuss the main advantages of the crossroad growing adoption of IFRS‚ and how does it particularly benefit investors and managers. The author will also be discussing the most significant challenges of the adoption and expansion of the IFRS in the future. Further more the author will‚ suggest how the IASB and its key constituents should face these challenges and overcome them. IFRS
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quarter that the products were leaving the warehouse (Mintz‚ Morris‚ 2011). Within the accounting world there are a few different agencies that can regulate the financial statement reporting. With these rules and regulations working they help the stakeholders along with the public to be protected from doing wrong reporting or any unethical behavior. There are three main agencies threw out the accounting world‚ (1) Sarbanes and Oxley Act of 2002 (SOX)‚ (2) Generally Accepted Accounting Principles (GAAP)
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The Uniform Crime Reporting The Uniform Crime Reporting (UCR) is the most widely used system for recording crimes which subsequently affects policy implementation decisions (Aspen Publishers‚ 2010). The UCR has tracked data on seven crimes since 1930 which include murder‚ robbery‚ rape‚ aggravated assault‚ burglary‚ theft and vehicle theft (Falk‚ 2010). Then in 1979‚ the UCR started reporting arson crimes. It has been reported that approximately 17‚000 law enforcement agencies report data to the
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Checkpoint: Crime Reporting and Rates Response The crime reporting programs is to keep track of the five W’s which is when‚ where‚ and what types of crimes that took place along with who and why and report it. This informs the public on how to react to crime and how the crime fighters fight crime in the community the crime program is used by different law enforcement agencies in order to reduce crime rates‚ the criminal reporting activity is used to see is crime increasing or decreasing in the
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4. Assurance on CSR/Sustainability reporting a) In recent years there have been a growing number of organisations voluntarily reporting on their non-financial performance. KPMG’s International Survey of Corporate Responsibility (2011: 6) found that: ‘95% of the 250 largest companies in the world (G250 companies) now report on their corporate responsibility (CR) activities‚ 66% of non-reporters are based in the US.’ There has been a growing trend in companies (especially in Europe) wanting to
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