The Political Implications of Accounting and Accounting...

D Solomons, The Political Implications of Accounting and Accounting Standard Setting, Accounting and Business Research, 1983 COPYRIGHT WARNING NOTICE This course reading may be used only the for the University’s educational purposes. It may be a copyright work, or an extract of a copyright work, copied under copyright licences. You may not copy or distribute any part of this course reading to any other person. Where this course reading is provided to you in electronic format you may print from it for your own use, only. You may not make a further copy for any other purpose. Failure to comply with the terms of this warning may expose you to legal action for copyright infringement and/or disciplinary action by the University. SPRING†¦show more content†¦So regulation is necessary to secure what everyone wants. For Ihe history or this early period. see Stephen A Zelf. Forging Accoullting Prillcipfe5 ill Fire COl/lltrU!s illinOIS. 1972) The third argument appeals tn the limited capacity of receivers of inrormation to interpret and ACCOUNTING AND B US INES RESEAR CH use it. This point is expressed by Peter Bird as follows : Where communication i restricted either by the limited signal capacity or by the limlled attenlion of the receiver, the challenge is to convey as much meaning as possible wilhin these constraints. The receiver mllst be clear what each message means; Ihe semantic noise of uncertainty or misunderstanding can prevent any clear meaning from reaching Ihe receiver. Th e more standing orders that can case for requiring those who prepare financial statements, and perhaps those who use them. to sacrifice some preferred modes of behaviour in order to gain from the similar sacrifices made by others. The FASB uses an analogy with driving behaviour to reinforce Ihis point : Like mOlorists who observe Iraffic laws in the interest of their own and general lraffic safety, so long as others do the same. in general, Ihose who have 10 subordinate Iheir individual prerercnccs to observe common accounting be agreed in advance regarding terminology, selection and even form of messages. the more of IheShow MoreRelatedCurrent Financial Reporting Standards On The Workplace Essay1744 Words   |  7 PagesCurrent Financial Reporting Issues It is incontestable that international financial reporting standards (IFRS) are in vogue and global conformity theoretically on the doorstep as about 100 countries implement standard financial regulations. The idea that uniform reporting standards have the same effect on financial reporting undervalues the contested ability to be flexible in financial reporting and introduces another level of debate on the issue of flexibility and uniformity. Apart from the factRead MoreInternational Financial Reporting Standards On The Workplace Essay1740 Words   |  7 PagesIt is incontestable that international financial reporting standards (IFRS) are in vogue and global conformity theoretically on the doorstep as about 100 countries implement standard financial regulations. The idea that uniform reporting standards have the same effect on financial reporting undervalues the contested ability to be flexible in financial reporting and introduces another level of debate on the issue of flexibility and uniformity. Apart from the fact that the merits of flexibility areRead MoreThe International Accounting Standards Boards1653 Words   |  7 PagesA (a)On 1 January 2005,all the stock exchange listed companies in Europe adopted the International Financial Reporting Standards (IFRS) written by the international Accounting Standards Boards. 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