Financial accounting theories in a real life - Assignment Example

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Financial accounting theories in a real life

It is used to communicate various aspects of the business. There are diverse kinds of theories that prevail in financial accounting. It has been observed that there prevails no accounting theory which is a universally accepted theory of financial accounting. Different researchers have dissimilar views regarding financial accounting theories (McGraw-Hill, 2006). There are different types of accounting theories that can be implemented in real life scenario. One of them is the Repo 105 theory. This theory is used by many of the companies. Moreover, it needs to be mentioned that the misuse of such theories can result in negative functioning of the companies. There are many such cases where improper use of accounting theories result in complete demise of the companies. Financial regulations can play a major role in reducing such cases (Liu & Schaefer, 2011; Eisinger, 2012). The report intends to discuss the role of Repo 105 scheme in the enhanced performance and subsequent downfall of the Lehman Brothers. The report would further depict the different motives that encourage companies to manipulate their financial accounts with reference to a few well known cases. ...Show more

Summary

Financial Accounting Theories in a Real Life Table of Contents Table of Contents 2 Abstract 3 Introduction 4 Repo 105 and Its Impact 4 Motives of Firms behind Manipulating Their Earnings 6 Need for Financial Accounting Regulations to Prevent Accounting Scandals 8 Conclusion 10 10 References 11 Abstract The report has discussed about the impact of the current accounting cases to the financial world…
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