...Contents Contents Page………………………………………………………………………………………………………………………………………….1 Main Body……………………………………………………………………………………………………………………………………………….2 1. Harmonisation – what it means……………………………………………………………………………………………….…2 2. IASB’s reasoning for financial reporting harmonisation…………………………….………………………………..3 3. Approaches to harmonisation………………………………………………………………………..…………………………..4 4. Obstacles in harmonisation………………………………………………….……………………………………………………..6 5. The convergence between IASB and FASB today and the Changes within the IASB towards achieving their goal ……………………………………………………………………………………………………………………7 Conclusion ………………………………………………………………………………………………………………………………………………8 References & bibliography………………………………………………………………….…………………………………………………..9 1. Harmonisation – what it means Harmonisation is the process which aims to converge the accounting practices around the world and to increase the compatibility between countries in regards to financial statements. However, we must keep in mind that this process does not target uniformity in the accounting practice, but to reduce the differences over time. Standardising the accounting practices around the world comes as a boomerang effect of capitalisation. We have companies that trade in different countries and thus they must oblige with each of the accounting practices of every country where the company produces financial statements. This leads to the situation where you have a company reporting a shareholders’...
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...FINANCIAL ACCOUNTING INFORMATION AND THE RELEVANCE/IRRELEVANCE ISSUE (Global Business & Economics Review Volume 5 No.2 December 2003 pp:140-175) Stanley C. W. Salvary, Canisius College ABSTRACT Some current research conclude that the numbers in financial statements are not relevant for three basic reasons. The numbers: (1) are not isomorphic with capital market values, (2) do not have a future orientation, and (3) are un-interpretable since they are based upon five different measurement attributes. The lack of isomorphism argument is invalid since actual current performance is not identical with the capital market expectations of future performance. The lack of a future orientation argument is invalid since financial statements capture what has happened and not what is expected to happen. Since a single measurement attribute is required to produce meaningful measures, the un-interpretability argument holds. A unique measurement attribute is identified in this paper to address this problem I. INTRODUCTION In Statement of Financial Accounting Concepts No. 1: Objectives of Financial Reporting by Business Enterprises (SFAC1) [1978], the Financial Accounting Standards Board (FASB) maintains that the function of financial accounting is to generate information useful to a group of users (investors and creditors) for decision-making. The focus on that specific function (decision-making) leads to a concern for predictive value, as opposed to feedback value, in financial statements...
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...Accounting, Organizations and Society 38 (2013) 596–620 Contents lists available at ScienceDirect Accounting, Organizations and Society journal homepage: www.elsevier.com/locate/aos An accountability framework for financial statement auditors and related research questions Mark E. Peecher a,⇑, Ira Solomon b,1, Ken T. Trotman c,2 a Department of Accountancy, College of Business, University of Illinois at Urbana-Champaign, 1206 South Sixth Street, Champaign, IL 61820, United States A.B. Freeman School of Business, Tulane University, 7 McAlister Drive, New Orleans, LA 70118, United States c School of Accounting, Australian School of Business, University of New South Wales, Sydney 2052, Australia b a b s t r a c t We address the following overarching questions: What kind of accountability framework could regulators use to (a) motivate auditors to improve audit quality, and (b) evaluate how well auditors have carried out their duties? We draw on research in accounting, economics, psychology, and neuroscience to critique the accountabilities, incentives, and learning opportunities embedded in auditors’ extant regulatory environment. We first establish that forward-looking estimates are the basis for most financial statement information and that some of these estimates are highly uncertain, which increases the challenges faced by auditors. We propose an accountability framework with two dimensions: rewards versus penalties and processes versus outcomes. We...
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...Leadership Development Seminars and ECQ-based Readings The success or failure of any endeavor depends on leadership. Now, more than ever before, we need leaders in our organizations and in our world. Great leaders create and communicate a vision and move people into action to achieve it. They ignite our passion and inspire us to do our best. Government leaders in the 21st century are experiencing change at a more rapid pace than previous generations. Rapid advances in technology have expanded the quantity of work we are capable of accomplishing, and also where it’s accomplished. We have a more highly educated workforce, yet face diminishing resources with an increased demand for productivity, and the essential services we provide to the American public. To be successful at navigating these challenges leaders must develop the essential skills to motivate their employees, effectively communicate with others, fine-tune critical thinking skills, and build and leverage partnerships. Future leaders must also be visionary; i.e., possess the ability to identify trends and the courage to be innovative. Being technically adept in your field will no longer be enough. In response to these demands on senior executives, the U.S. Office of Personnel Management identified five Executive Core Qualifications (ECQs) that all aspiring government leaders and executives must possess. These ECQs and Fundamental Competencies were developed by OPM after extensive research on the attributes...
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...Leadership Development Seminars and ECQ-based Readings The success or failure of any endeavor depends on leadership. Now, more than ever before, we need leaders in our organizations and in our world. Great leaders create and communicate a vision and move people into action to achieve it. They ignite our passion and inspire us to do our best. Government leaders in the 21st century are experiencing change at a more rapid pace than previous generations. Rapid advances in technology have expanded the quantity of work we are capable of accomplishing, and also where it’s accomplished. We have a more highly educated workforce, yet face diminishing resources with an increased demand for productivity, and the essential services we provide to the American public. To be successful at navigating these challenges leaders must develop the essential skills to motivate their employees, effectively communicate with others, fine-tune critical thinking skills, and build and leverage partnerships. Future leaders must also be visionary; i.e., possess the ability to identify trends and the courage to be innovative. Being technically adept in your field will no longer be enough. In response to these demands on senior executives, the U.S. Office of Personnel Management identified five Executive Core Qualifications (ECQs) that all aspiring government leaders and executives must possess. These ECQs and Fundamental Competencies were developed by OPM after extensive research on the attributes...
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...Deng Xiaoping and the Transformation of China Ezra F. Vogel REFERENCES American Rural Small-Scale Industry Delegation. Rural Small-Scale Industry in the People’s Republic of China. Berkeley: University of California Press, 1977. Atkinson, Richard C. “Recollection of Events Leading to the First Exchange of Students, Scholars, and Scientists between the United States and the People’s Republic of China,” 4 pp. Bachman, David. “Differing Visions of China’s Post-Mao Economy: The Ideas of Chen Yun, Deng Xiaoping, and Zhao Ziyang,” Asian Survey, 26, no. 3 (March 1986), 293-321. Bachman, David. “The Fourteenth Congress of the Chinese Communist Party.” New York: Asia Society, 1992. Bachman, David. “Implementing Chinese Tax Policy.” In Lampton, ed., Policy Implementation in Post-Mao China, pp. 119-153. Backhouse, E. and J.O.P. Bland. Annals & Memoirs of the Court of Peking. Boston: Houghton Mifflin, 1914. Bainian chao (百年潮) (Hundred Year Tide). Monthly. Beijing: Zhongguo zhonggong dangshi xuehui, 1997 -- . Barfield, Thomas J. Perilous Frontier: Nomadic Empires and China. Cambridge: Basil Blackwell, 1989. Barman, Geneviève Barman and Nicole Dulioust. “Les années Françaises de Deng Xiaoping,” Vingtième Siècle: Revue d’histoire, no. 20 (October-December 1988), 17-34. Barman, Geneviève and Nicole Dulioust. “The Communists in the Work and Study Movement in France,” Republican China, 13, no. 2 (April 1988), 24-39. Barnett, A. Doak, with a contribution...
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...EVOLUTION AND SELF-INTEREST Richard Dawkins argues that at its most fundamental level, the genetic level, life is self-interested.1 Genes do only one thing; they replicate themselves. These replicators reside in and are carried around by biological vehicles (trees, animals, humans, fungus, etc.). The resources that support these biological vehicles are finite, so the process of life has become a competition among genes to create vehicles that can successfully compete for limited resources and survive to pass on their genetic code. Dawkins coined the term ‘selfish gene’ to emphasize the single, focused object of a gene’s existence. What he means is that the sole purpose of a gene is to make copies of itself using the Darwinian selection process; very selfishly ignoring the consequences this pursuit may have on other living entities. Self-interest is a requirement for survival. This does not mean, of course, that animals and humans cannot be altruistic sometimes, in certain activities.2 It does mean that no living entity can survive for long if it is only purely altruistic. On the other hand, survival is not necessarily jeopardized when an organism is purely self-interested. Altruism, in the absence of self-interest, is not evolutionarily stable in the biological world; it leads to extinction. It is for this reason that all extant life forms must be selfish. Humans, like all creatures, are self-interested; not because it is good to be selfish but because we would not be here if...
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...Review of Marketing Research Review of Marketing Research VOLUME 1 Naresh K. Malhotra Editor M.E.Sharpe Armonk, New York London, England 4 AUTHOR Copyright © 2005 by M.E.Sharpe, Inc. All rights reserved. No part of this book may be reproduced in any form without written permission from the publisher, M.E. Sharpe, Inc., 80 Business Park Drive, Armonk, New York 10504. Library of Congress ISSN: 1548-6435 ISBN 0-7656-1304-2 (hardcover) Printed in the United States of America The paper used in this publication meets the minimum requirements of American National Standard for Information Sciences Permanence of Paper for Printed Library Materials, ANSI Z 39.48-1984. ~ MV (c) 10 9 8 7 6 5 4 3 2 1 CHAPTER TITLE 5 REVIEW OF MARKETING RESEARCH EDITOR: NARESH K. MALHOTRA, GEORGIA INSTITUTE OF TECHNOLOGY Editorial Board Rick P. Bagozzi, Rice University Ruth Bolton, Arizona State University George Day, University of Pennsylvania Morris B. Holbrook, Columbia University Michael Houston, University of Minnesota Shelby Hunt, Texas Tech University Dawn Iacobucci, Northwestern University Arun K. Jain, University at Buffalo, State University of New York Barbara Kahn, University of Pennsylvania Wagner Kamakura, Duke University Donald Lehmann, Columbia University Robert F. Lusch, University of Arizona Kent B. Monroe, University of Illinois, Urbana A. Parasuraman, University of Miami William Perreault, University of North Carolina Robert A. Peterson, University...
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...York, NY, USA Fuqua School of Business, Duke University, Durham, NC, USA Pamplin College of Business, Virginia Polytechnic Institute and State University, Blacksburg, VA, USA School of Management, University of Michigan-Dearborn, MI, USA College of Business Administration, San Diego State University, San Diego, CA, USA Department of Accounting, University of Arkansas at Little Rock, AR, USA Zicklin School of Business, CUNY – Baruch College, New York, NY, USA Belk College of Business, University of North Carolina at Charlotte, NC, USA College of Business and Economics, West Virginia University, Morgantown, WV, USA RSM Erasmus University, Department of Financial Management, Rotterdam, The Netherlands Mohamed E. Bayou Chee W. Chow Cynthia M. Daily Harry Z. Davis Nabil Elias Arron Scott Fleming Frank G. H. Hartmann vii viii LIST OF CONTRIBUTORS Fred A. Jacobs Frances Kennedy James M. Kohlmeyer, III Leslie Kren John Y. Lee Michael S. Luehlfing Adam S. Maiga School of Accountancy, Georgia State University, Atlanta, GA, USA Department of Accountancy and Legal Studies, Clemson University, SC, USA College of Business, East Carolina University, Greenville, NC, USA School of Business, University of Wisconsin, Milwaukee, WI, USA Lubin School of Business, Pace University, Pleasantville, NY, USA School of Professional Accountancy, Louisiana Tech University, LA, USA School of Accounting, Florida International University, Miami, FL, USA I.H. Asper School of Business, University...
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... Criteria for supply decisions have been organized into three categories: (1) strategic, (2) operational, and (3) additional. In this third category, new factors such as balance sheet and income statement considerations, dimensions of risk, and environmental and social considerations are considered. Visit the text’s Online Learning Center at www.mhhe.com/Johnson14e Michiel R. Leenders, D.B.A., PMAC Fellow Professor of Purchasing Management Emeritus Richard Ivey School of Business The University of Western Ontario Anna E. Flynn, Ph.D., C.P.M. Formerly Clinical Associate Professor Supply Chain Management Thunderbird School of Global Management Formerly Associate Professor Institute for Supply Management TM Johnson Leenders Flynn Purchasing and Supply Management Johnson Leenders Flynn MD DALIM #1093963 06/05/10 BLUE GREEN P. Fraser Johnson, Ph.D. Leenders Purchasing Management Association of Canada Chair Associate Professor, Operations Management Richard Ivey School of Business The University of Western Ontario Purchasing and Supply Management company issues and opportunities. Fourteenth Edition Purchasing and Supply Management joh77899_fm_i-xviii.indd i 6/9/10 10:05 PM The McGraw-Hill/Irwin Series Operations and Decision Sciences OPERATIONS MANAGEMENT Beckman and Rosenfield, Operations, Strategy:...
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... Criteria for supply decisions have been organized into three categories: (1) strategic, (2) operational, and (3) additional. In this third category, new factors such as balance sheet and income statement considerations, dimensions of risk, and environmental and social considerations are considered. Visit the text’s Online Learning Center at www.mhhe.com/Johnson14e Michiel R. Leenders, D.B.A., PMAC Fellow Professor of Purchasing Management Emeritus Richard Ivey School of Business The University of Western Ontario Anna E. Flynn, Ph.D., C.P.M. Formerly Clinical Associate Professor Supply Chain Management Thunderbird School of Global Management Formerly Associate Professor Institute for Supply Management TM Johnson Leenders Flynn Purchasing and Supply Management Johnson Leenders Flynn MD DALIM #1093963 06/05/10 BLUE GREEN P. Fraser Johnson, Ph.D. Leenders Purchasing Management Association of Canada Chair Associate Professor, Operations Management Richard Ivey School of Business The University of Western Ontario Purchasing and Supply Management company issues and opportunities. Fourteenth Edition Purchasing and Supply Management joh77899_fm_i-xviii.indd i 6/9/10 10:05 PM The McGraw-Hill/Irwin Series Operations and Decision Sciences OPERATIONS MANAGEMENT Beckman and Rosenfield, Operations, Strategy:...
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...Course Technology’s Management Information Systems Instructor and Student Resources Introduction to IS/MIS Principles of Information Systems, Eighth Edition • Stair, Reynolds Fundamentals of Information Systems, Fourth Edition • Stair, Reynolds Management Information Systems, Sixth Edition • Oz Information Technology in Theory • Aksoy, DeNardis Office Applications in Business Problem-Solving Cases in Microsoft Access & Excel, Sixth Annual Edition • Brady, Monk Succeeding in Business Applications with Microsoft Office 2007 • Bast, Gross, Akaiwa, Flynn, et.al Succeeding in Business with Microsoft Office Excel 2007 • Gross, Akaiwa, Nordquist Succeeding in Business with Microsoft Office Access 2007 • Bast, Cygman, Flynn, Tidwell Databases Database Systems, Eighth Edition • Rob, Coronel Concepts of Database Management, Sixth Edition • Pratt, Adamski Data Modeling and Database Design • Umanath, Scamell A Guide to SQL, Seventh Edition • Pratt A Guide to MySQL • Pratt, Last Guide to Oracle 10g • Morrison, Morrison, Conrad Oracle 10g Titles Oracle9i Titles Enterprise Resource Planning Concepts in Enterprise Resource Planning, Third Edition • Monk, Wagner Data Communications Data Communications and Computer Networks: A Business User’s Approach, Fourth Edition • White Systems Analysis and Design Systems Analysis and Design in a Changing World, Fifth Edition • Satzinger, Jackson, Burd Object-Oriented Analysis and Design with the Unified Process • Satzinger, Jackson, Burd Systems Analysis and...
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...international financial reporting standards CERTIFICATE Learning materiaLs Contents FINANCIAL REPORTING CONTEXT..............................................................3 THE IFRS FRAMEWORK ..............................................................................17 PRESENTATION OF FINANCIAL STATEMENTS ........................................35 ACCOUNTING POLICIES .............................................................................49 REVENUE......................................................................................................61 INVENTORIES...............................................................................................75 PROPERTY, PLANT, AND EQUIPMENT......................................................87 BORROWING COSTS.................................................................................105 GOVERNMENT GRANTS ...........................................................................113 NON-CURRENT ASSETS HELD FOR SALE ..............................................123 INVESTMENT PROPERTY .........................................................................133 INTANGIBLES .............................................................................................145 IMPAIRMENT ..............................................................................................159 PROVISIONS AND CONTINGENCIES .......................................................171 TAXATION...........................................
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...international financial reporting standards CERTIFICATE Learning materiaLs Contents FINANCIAL REPORTING CONTEXT..............................................................3 THE IFRS FRAMEWORK ..............................................................................17 PRESENTATION OF FINANCIAL STATEMENTS ........................................35 ACCOUNTING POLICIES .............................................................................49 REVENUE......................................................................................................61 INVENTORIES...............................................................................................75 PROPERTY, PLANT, AND EQUIPMENT......................................................87 BORROWING COSTS.................................................................................105 GOVERNMENT GRANTS ...........................................................................113 NON-CURRENT ASSETS HELD FOR SALE ..............................................123 INVESTMENT PROPERTY .........................................................................133 INTANGIBLES .............................................................................................145 IMPAIRMENT ..............................................................................................159 PROVISIONS AND CONTINGENCIES .......................................................171 TAXATION...........................................
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...Integrating ERP, CRM, Supply Chain Management, and Smart Materials Dimitris N. Chorafas AUERBACH Library of Congress Cataloging-in-Publication Data Chorafas, Dimitris N. Integrating ERP, CRM, supply chain management, and smart materials / Dimitris N. Chorafas. p. cm. Includes bibliographical references and index. ISBN 0-8493-1076-8 (alk. paper) 1. Business logistics. 2. Customer relations. I. Title. HD38.5 .C44 2001 658.5—dc21 2001022227 This book contains information obtained from authentic and highly regarded sources. Reprinted material is quoted with permission, and sources are indicated. A wide variety of references are listed. Reasonable efforts have been made to publish reliable data and information, but the author and the publisher cannot assume responsibility for the validity of all materials or for the consequences of their use. Neither this book nor any part may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, microfilming, and recording, or by any information storage or retrieval system, without prior permission in writing from the publisher. The consent of CRC Press LLC does not extend to copying for general distribution, for promotion, for creating new works, or for resale. Specific permission must be obtained in writing from CRC Press LLC for such copying. Direct all inquiries to CRC Press LLC, 2000 N.W. Corporate Blvd., Boca Raton, Florida 33431. Trademark Notice: Product or corporate names may be trademarks...
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