StudentShare solutions
Triangle menu

: Accounting and Regulation Will there ever be full comparability - Literature review Example

Free

Extract of sample
: Accounting and Regulation Will there ever be full comparability

Aspects about accounting and regulations that promote full comparability With reference to the writings by Benston et al. (2006), they stated that certain forms of accounting regulations provide a basis for full comparability of accounting records from different sectors and countries. For example, Penman (2007) stated that accounting records could be fully comparable on the basis that the accounting records should be able to ascertain and report on the performance of the business in terms of either loss or profit. The second aspect about accounting and regulations, which encourage comparability, is the fact that accounting records provide information for planning and control of resources of business entity. Thirdly, since accounting records are used for decision-making and forecasting purposes, it means that different forecasts as well as decisions can be compared based on the supporting financial records that were used. Fourthly, Penman (2007) stated that specific accounting records such as balance sheets, cash flows, and profit and loss account, all serve different specific purposes, which means that users from different sectors and countries can compare these different records based on their distinctive purposes. For instance, to obtain the net worth of a particular business that operates in a different sector and country, one needs to look at the business’s balance sheet records. Aspects about accounting and regulations that discourage full comparability According to Zeff (2007), different

Check these samples - they also fit your topic

Literature review
There may also be cases of dismissals, resignations and retirements that will all call for the need to recruit and employ new workers. Even though recruitment and selection are one of the very usual and inevitable corporate practices, it is very important to attend to them with great caution and in by following good recruitment and selection processes that would ensure the company does not suffer the consequences of poor recruitment.
12 pages (3000 words) Literature review
Women in Accounting
WOMEN IN ACCOUNTING Content Page Introduction 2 Literature Review 3 Historical Rise of women and their roles in accounting 3 Barriers and difficulties faced by women in the accounting industry 4 Work of various accounting boards in the UK 6 Methodological Framework 7 Presentation and Analysis of Data 8 Conclusion and Limitations 9 References 11 Appendix 12 Introduction Over the years, gender equality has become an issue that has taken a global dimension.
10 pages (2500 words) Literature review
Can 'local food' ever really be local Why is it significant that 'local' is actually local
This action will increase the availability of fresh fruits and vegetables that can get to the market quickly. This creates a win-win situation in that the farmers are able to bring their produce to market and provide an opportunity for consumers to receive good quality food.
6 pages (1500 words) Literature review
Literature review
Hence, in this regard, both the private and the public sector have devoted considerable attention to the notion of customer satisfaction, which is a rudimentary basic in the customer-company relationship. Naturally, in order to increase the awareness about this concept, administrators have increasingly encouraged their staff to gain knowledge by studying and researching on this phenomenon of customer satisfaction for the welfare and growth of the organization.
10 pages (2500 words) Literature review
Finance and Accounting, Literature Review
Many companies have become victims of these accusations with many more suffering price losses and even closures as a result of having their executives drawing more from the bank than the company would handle. Others have been accused of being involved in scandalous activities that have led to the collapse of company shares.
12 pages (3000 words) Literature review
AF3S15: Accounting Research
A survey questionnaire forms the key concept of this study and was responded to by a group of UK based investment firms who represent
6 pages (1500 words) Literature review
Women in Accounting
As gender equality advocacy continued, the way became paved for women to be seen in all aspects of life including education, profession, planning and leadership. Accounting as a subject and profession has its own part of the history as far as female
9 pages (2250 words) Literature review
Males and females exercise behaviour regulation
Pleis and Lethbridge-Hejku (2006) studied Physical inactivity in the United States while Cavill et al (2006) studied a similar phenomenon in Europe. Both studies reveal widespread inactivity across all ages. Miles (2006) documents the role of regular exercise and activity, demonstrating the need to understand human motivation in these fields.
4 pages (1000 words) Literature review
Need to do a critical review on the article: Power, M (2010) Fair value accounting, financial economics and the transformation of reliability Accounting and Business Research 40 (3) pp197-210
The paper was originally delivered as a lecture at Chartered Accountant’s Hall London on 15th October 2009 with a title “Fair value: the influence of financial economics on
4 pages (1000 words) Literature review
Lit review
The relationship between the two is evident from identity-based effects like recognizing and shopping for products that are consumed by the members of the self-perceived customer segment or group. The
8 pages (2000 words) Literature review
companies apply different accounting strategies and they might apply different regulations depending on the industry best practices. For example, Penman (2007) stated that the accounting records of two competing companies such as the Coca-Cola Company and the Pepsi Company bear differences that make it hard to do comparisons. These differences arise from simple facts such as difference in terms of the markets that the two competing companies cover or difference in product range that the two companies produce. This means it will be hard to compare the market performance for these two different companies since they could classify the markets differently from each other and comparison of product performance could also be hard since there are certain products that Pepsi offers while Coca-Cola company does not offer and vice versa. Benston et al. (2006) wrote that even from a local or national level, it is usually hard to compare accounting and regulations because each company adopts it own unique accounting period (year ending and start dates) and regulations that make certain accounting items to be interpreted in a unique manner, which is different from other companies. For example, a company may decide to record its assets in terms of their market value while others may opt to use their depreciated values therefore, comparing these two financial records will create inconsistent results that are not accurate. By looking at this issue from a broader perspective, Zeff (2007) stated that the Generally Accepted Accounting Principles (GAAP) aims at establishing uniform accounting procedures and regulations framework that is applicable within a certain specified jurisdiction. Zeff (2007) further added that GAAP stipulates the rules, standards, and conventions that accountants should follow whilst recording or drawing up financial statements. The existence of GAAP further makes it hard to ever fully

Summary

Accounting and Regulation; will there ever be full comparability? Literature review This paper reviews three different scholarly writings in regards to whether there will ever be full comparability in accounting and regulations across different sectors and countries…
Author : jwyman
Review : Accounting and Regulation Will there ever be full comparability essay example
Read Text Preview
Comments (0)
Click to create a comment
Contact Us