AFW3040 Assignment 1 Recently in June 2010‚ the International Accounting Standards Board and the Financial Accounting Standard Board initiated a joint project and released an exposure draft named Revenue from Contracts with Customers. This exposure draft emphasizes the status of revenue in assessing financial statements and states that revenue is conclusive in assessing a company’s operating situation and developing prospects. This statement has a profound influence on accounting industry and
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Revenue Recognition & Theories of Accounting The Joint Project Revenue recognition requirements in US generally accepted accounting principles (GAAP) differ from those in International Financial Reporting Standards (IFRSs); the former consists of broad concepts whereas IFRSs contain fewer standards‚ but applying the two main standards to complex transactions were difficult and needed improvement (Australian Accounting Standards Board‚ 2010). Accordingly‚ the International Accounting Standards
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ACCG927 CURRENT ISSUES IN ACCOUNTING & Corporate Governance Week 1 Introduction and Overview of Accounting Theories 1 Introduction • • • • • • • • • • About the unit Teaching and learning strategy Assessments In-class essays Essay writing workshop Research essay Turnitin requirements Oral team presentation Required readings Importance of written answers each week 2 The Nature of Accounting & Corporate Governance Theory • What is a theory? Kerlinger‚ 1964: "A set of interrelated
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Recommended references Cho‚ CH & Patten‚ DM 2007‚ ‘The role of environmental disclosures as tools of legitimacy: a research note’‚ Accounting‚ Organizations and Society vol. 32‚ no. 7‚ pp. 639-47. Cormier‚ D‚ Magnan‚ M & Van Velthoven‚ B 2005‚ ‘Environmental disclosure quality in large German companies: economic incentives‚ public pressures or institutional conditions?’ European Accounting Review‚ vol. 14‚ no. 1‚ pp. 3-39. Cowan‚ S & Gadenne‚ D 2005‚ ‘Australian corporate environmental reporting:
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Anwer Ahmed‚ Sudipta Basu‚ Patty Dechow‚ Dan Gode‚ Wayne Guay‚ Charles Lee‚ Bob Lipe‚ Mike Mikhail‚ Jowell Sabino‚ Jake Thomas‚ Charles Wasley‚ and Tzachi Zach for helpful comments and discussions. I am especially indebted to Doug Skinner and Jerry Zimmerman‚ editors‚ for detailed comments on several drafts of the paper. I acknowledge financial support from the New Economy Value Research Lab at the MIT Sloan School of Management. *Tel.: +1-617-253-0994; fax: +1-617-253-0603. E-mail address: kothari@mit
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Abstract This essay addresses two different approaches in international capital market by exploring positive and negative characteristics of each trend: * Perfect capital market which is about economists’ idea of capital market; * Imperfect capital market which refers to modern capital market; * And‚ finally after above explorations and assessment of each strategy’ weaknesses/ strengths‚ it seeks to weigh/ compare both trends. Introduction Sion‚ A (2010) describes perfect (economists’)
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| | 1. Introduction Recent years have saw that listed firms‚ especially the large organisations‚ voluntarily disclose their Social and Environmental issues in their annual reports. As a result‚ a question was come up with by researchers: why managers would choose to undertake the voluntary activities? Although there is no consensus being reached about what perspective theories should be used to explain the Social and
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financial accounting become more conservative? Journal of Accounting and Economics 29‚ 287-320. Gregoriou‚ A.‚ Skerratt‚ L.‚ 2007. Does the Basu model really measure the conservatism of earnings? Working Paper‚ Brunel Business School. Holthausen‚ R. W.‚ Watts‚ R. L.‚ 2001. The relevance of value-relevance literature for financial accounting standard setting. Journal of Accounting and Economics 31‚ 3-75. Holthausen‚ R. W.‚ 2003. Testing the relative power of accounting standard versus incentives and other
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Agency Problems‚ Auditing‚ and the Theory of the Firm: Some Evidence Author(s): Ross L. Watts and Jerold L. Zimmerman Source: Journal of Law and Economics‚ Vol. 26‚ No. 3‚ (Oct.‚ 1983)‚ pp. 613-633 Published by: The University of Chicago Press Stable URL: http://www.jstor.org/stable/725039 Accessed: 29/06/2008 23:14 Your use of the JSTOR archive indicates your acceptance of JSTOR ’s Terms and Conditions of Use‚ available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR ’s Terms and
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References: Ball‚ Ray‚ 1995. Making accounting more international: Why‚ how‚ and how far will it go? Journal of Applied Corporate Finance 8‚ Fall‚ 19-29. Watts‚ R.‚ Zimmerman‚ J.‚ 1986‚ Positive Accounting Theory (Englewood Cliffs‚ NJ: Prentice-Hall)
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