Some of the bodies include; financial accounting standards board (FASB), American Institute of Certified Public Accountants (AICPA), Public Companies Oversight Board (PCOB), International Accounting Standards Board (IASB), Securities Exchange Commission (SEC) and Association Chartered Certified Accountants among other governing bodies globally.
Financial regulations have been common phenomena in the current world. For example in the recent Euro crisis the countries involved had to take measures to ensure that their financial systems are not curtailed. Policies were reviewed at this time to ensure currency stability in the market. Another instance which has seen financial reviewing is in the US during the 2008 financial panic. The country finance department reviewed its policies to ensure that the government did not transcend into a state of jeopardy. Although policies are continuously reviewed they must fall within the stipulations of internationally accepted principles. The whole sequence of formulation is governed by the generally accepted accounting principles (GAAPS); failure to comply with these rules will lead to confusion in the sector.
This paper tries to analyze the financial implications of Ryanair plc. Ryanair is an international company with huge market base; it operates low cost passenger airlines which ply the routes between UK, Europe continent and the Moroccan airspaces. Besides the company is listed on a stock exchange in the country, with a huge base of shareholders the company needs to frequently assess its financial statements to convey the right message to the shareholders and stay within the law.
It is the financial obligations of the companies which on most occasions oblige management to address or review the financial statements of the company. Shareholders and the authorities will on most occasions want reports on the operations of the company. In