Download or read book The Gap in the Perception of the GAAP written by Israel Klein and published by . This book was released on 2016 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial accounting is the language of the business world and generally accepted accounting principles (GAAP) comprise its terminology. The dictionary-like use of GAAP in business discourse conveys a conception of accounting standards as definitional rules, i.e., as rules that merely provide consensual definitions for financial discourse without affecting the content of the discourse. As such, GAAP is believed to be neutral and bias-free and consequently, promulgation of accounting standards and the content of the GAAP have not attracted much legal attention.This article challenges the prevailing legal indifference towards the GAAP and those promulgating it. By revealing GAAP's effects on corporate behavior and on the function of many social, political and financial systems that utilize accounting parameters, this article discusses the substantive power private parties gain through the promulgation of accounting standards and how these standards imply a biased agenda that prefers the investor perspective over other contrary perspectives, thereby establishing a skewed financial perception of reality, such that subordinates the social order entirely to investors' objectives. While reviewing how the GAAP is perceived by the court, this article further argues that the existing legal perception of accounting standards as neutral definitional rules has yielded court rulings that relieved accounting standards promulgators from professional duties and has prevented judicial review of the standards themselves, leaving the GAAP and its promulgators practically immune to legal scrutiny.Attention is then drawn to a possible solution presented by a recent SEC proposal to allow domestic issuers to disclose supplemental IFRS-based financial results in addition to those required by the GAAP. It is suggested that such additional financial disclosure can curtail GAAP's hegemony, curb its promulgators and partially ease some of the existing biases of financial accounting.
Download or read book The GAAP Gap written by Robert E. Litan and published by American Enterprise Institute. This book was released on 2000 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today's knowledge-based economy requires an entirely new system of assessing the value of companies--a system tapping the vast communication capabilities of the Internet.
Download or read book The Gap in GAAP written by Susannah Blake Goodman and published by . This book was released on 2003 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Research Practice Gap on Accounting in the Public Services written by Laurence Ferry and published by Springer. This book was released on 2018-11-11 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers how the practical and public policy relevance of research might be increased, and academics and practitioners can better engage to define research agendas and deliver findings relevant to accounting and accountability in the public services. To do so, an international comparative analysis of the research-practice gap in public sector accounting has been undertaken. This involved academic perspectives from over twenty countries, and practitioner perspectives from leading international professional accounting bodies actively involved in the public services arena. It was found that research is valued for informing practice, but engaging at a high level of policy engagement has been primarily by a small group of experienced researchers. For other researchers the impact accomplished may not always be valued highly in the academic community relative to other, more scholarly, activities. The book therefore looks at how engagement and impact between academics and practitioners can be increased.
Download or read book Bridging the GAAP written by Zvi Wiener and published by World Scientific. This book was released on 2012 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bridging the GAAP: Recent Advances in Finance and Accounting lies at the intersection of the two disciplines. The readings in this volume bridge the gap between finance and accounting by looking at diverse topics in accounting and finance and by providing interesting points of view regarding their interface. Most of the chapters concentrate on the topic of fair value accounting and on the extent to which accounting numbers mirror the financial situation of the firm. This book combines new developments in the areas of theoretical and empirical finance and accounting, and emphasizes the convergence of these two disciplines to better serve researchers, investors and the general public. The papers contained in this volume will help scholars, practitioners and investors better understand the similarities and differences between these two important fields of study.
Download or read book Bridging The Gaap Recent Advances In Finance And Accounting written by Itzhak Venezia and published by World Scientific. This book was released on 2012-03-20 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bridging the GAAP: Recent Advances in Finance and Accounting lies at the intersection of the two disciplines. The readings in this volume bridge the gap between finance and accounting by looking at diverse topics in accounting and finance and by providing interesting points of view regarding their interface. Most of the chapters concentrate on the topic of fair value accounting and on the extent to which accounting numbers mirror the financial situation of the firm. This book combines new developments in the areas of theoretical and empirical finance and accounting, and emphasizes the convergence of these two disciplines to better serve researchers, investors and the general public. The papers contained in this volume will help scholars, practitioners and investors better understand the similarities and differences between these two important fields of study.
Download or read book Accounting Ethics Crisis in accounting ethics written by J. Edward Ketz and published by Taylor & Francis. This book was released on 2006 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ruination of investors in Enron, WorldCom, Waste Management, Aldelphia, Tyco and scores of other business concerns has raised questions about the adequacy and relevance of academic research into accounting ethics, as well as the ethical nature of professional parties. This research collection includes important papers from key journals and books that reassess theories, research studies, and professional practices in the field of accounting ethics. In addition to examining the current crisis in the creditability of financial reports, many of the papers here work toward developing a body of knowledge that will protect the investing public in the future.
Download or read book Gaap Gaab Gap Gapp written by Claudia Däubler-Hauschke and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Government Auditing Standards 2018 Revision written by United States Government Accountability Office and published by Lulu.com. This book was released on 2019-03-24 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Audits provide essential accountability and transparency over government programs. Given the current challenges facing governments and their programs, the oversight provided through auditing is more critical than ever. Government auditing provides the objective analysis and information needed to make the decisions necessary to help create a better future. The professional standards presented in this 2018 revision of Government Auditing Standards (known as the Yellow Book) provide a framework for performing high-quality audit work with competence, integrity, objectivity, and independence to provide accountability and to help improve government operations and services. These standards, commonly referred to as generally accepted government auditing standards (GAGAS), provide the foundation for government auditors to lead by example in the areas of independence, transparency, accountability, and quality through the audit process. This revision contains major changes from, and supersedes, the 2011 revision.
Download or read book Standards for Internal Control in the Federal Government written by United States Government Accountability Office and published by Lulu.com. This book was released on 2019-03-24 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers and program managers are continually seeking ways to improve accountability in achieving an entity's mission. A key factor in improving accountability in achieving an entity's mission is to implement an effective internal control system. An effective internal control system helps an entity adapt to shifting environments, evolving demands, changing risks, and new priorities. As programs change and entities strive to improve operational processes and implement new technology, management continually evaluates its internal control system so that it is effective and updated when necessary. Section 3512 (c) and (d) of Title 31 of the United States Code (commonly known as the Federal Managers? Financial Integrity Act (FMFIA)) requires the Comptroller General to issue standards for internal control in the federal government.
Download or read book The Three Box Solution written by Vijay Govindarajan and published by Harvard Business Review Press. This book was released on 2016-04-26 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to Innovate and Execute Leaders already know that innovation calls for a different set of activities, skills, methods, metrics, mind-sets, and leadership approaches. And it is well understood that creating a new business and optimizing an already existing one are two fundamentally different management challenges. The real problem for leaders is doing both, simultaneously. How do you meet the performance requirements of the existing business—one that is still thriving—while dramatically reinventing it? How do you envision a change in your current business model before a crisis forces you to abandon it? Innovation guru Vijay Govindarajan expands the leader’s innovation tool kit with a simple and proven method for allocating the organization’s energy, time, and resources—in balanced measure—across what he calls “the three boxes”: • Box 1: The present—Manage the core business at peak profitability • Box 2: The past—Abandon ideas, practices, and attitudes that could inhibit innovation • Box 3: The future—Convert breakthrough ideas into new products and businesses The three-box framework makes leading innovation easier because it gives leaders a simple vocabulary and set of tools for managing and measuring these different sets of behaviors and activities across all levels of the organization. Supported with rich company examples—GE, Mahindra & Mahindra, Hasbro, IBM, United Rentals, and Tata Consultancy Services—and testimonies of leaders who have successfully used this framework, this book solves once and for all the practical dilemma of how to align an organization on the critical but competing demands of innovation.
Download or read book Bridging the Gap written by Vincent T. Papa and published by . This book was released on 2016-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Accounting Reform and Investor Protection without special title written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2003 with total page 680 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book GAAP s Gap Part II written by M. A. Gumport and published by . This book was released on 2009 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Accounting Standards Board (FASB) has long recognized shortcomings in fundamental accounting principles that are exacerbated by the proliferation of increasingly complex financial instruments. The FASB has been engaged since 1986 in a project to align financial reporting with economic substance and improve consistency.The FASB recently issued its Preliminary Views. Key points are:- After a 22 year effort, the result should be good. It is not. - A carve out is provided to allow separate consideration at a future date for the treatment of compensation options. Until then, option compensation accounting (SFAS 123R), though flawed, is exempted. Hot potato!The FASB Preliminary Views lists two fundamental premises of accounting that contribute to engineered earnings and inconsistent reporting: 1) The definition of equity, and 2) The exclusion of equity items from the income statement. The FASB's proposed solution is to redefine equity and deals with only the first premise while ignoring the second. If adopted, the result will be a tedious, case by case dispute on whether an instrument qualifies to be treated as equity, and a crop of new securities will surely arise to skirt the revised rules. Meanwhile, a simple, comprehensive opportunity (the claims approach, part of a 1990 FASB Discussion Memorandum) to modernize accounting by marking equity to market within the income statement has been scrapped.
Download or read book Research Handbook on Financial Accounting written by Luz Parrondo and published by Edward Elgar Publishing. This book was released on 2024-01-18 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through careful classification of the opportunities and challenges facing current financial regulatory bodies, the Research Handbook on Financial Accounting inspects the financial implications of our ever-changing modern economic and environmental climate.
Download or read book GAAP Convergence Or Convergence Gap written by Lisa Baudot and published by . This book was released on 2014 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper adds to the literature on accounting change in explaining a decade-long effort by the FASB and IASB to develop a set of global accounting standards accepted by markets worldwide. This research studies the effort as one of “convergence” in accounting standards and aims to bring theoretical and empirical clarity as to how we can conceptualize the notion of convergence. In doing so, it informs the global standard-setting community of the evolution of convergence and the factors which impact that evolution by revealing the influence of various institutions, actors and events over time. Through a longitudinal study of 23 key FASB-IASB projects undertaken between 2002 and 2011, this paper analyzes processes of accounting change using a blend of institutional theory and political economy. A process perspective provides a method to unfold variants of accounting change by identifying patterns that help us to understand the conditions for and characteristics of convergence. I highlight specific variants of accounting change observed during the convergence effort - direct emulation, difference reduction and progressive redesign - as analogous to institutional processes. Where direct emulation and difference reduction reflect institutional processes of imitation and editing or translation, respectively, I show how progressive redesign of accounting standards goes beyond these classical categorizations to encompass the notion of 'institutional co-construction' (Djelic, 2008). Further, I identify the impact of the competitive and cooperative conditions under which the FASB-IASB convergence effort operated and reveal how these conditions were influenced by the macro-level economic and political developments occurring over the period.
Download or read book The RISE and RISE of NON GAAP DISCLOSURE written by Jeff Coulton and published by . This book was released on 2016-11-24 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
