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A major perspective on accounting (financial reporting) regulation views regulation as being required to protect the public interest. However, the regulatory capture and economic (private) interests perspectives argue that the public interest objective could be adversely affected by various factors.
The assignment question requires you to explain the above three perspectives on accounting regulation. In particular, to what extent do you believe that, within the Australian financial reporting regulatory environment, the issues of regulatory capture and private interests do adversely affect the objective of the provision of useful information for users of public company financial reports? State any recommendations you would make to reduce any potential for adverse impacts, and comment on what the three perspectives mean for the role and power of accountants in society.
Write a research essay addressing the above assignment question. You are required to fully explain your viewpoints and support your decision by academic research papers (at least 3 peer-reviewed academic papers) plus newspaper articles, textbooks and other reliable sources of literature.
Compute the Federal income tax liability for the Kim Trust. The trustee reports the following transactions for the 2011 tax year. The trustee accumulates all accounting income for the year.
victoria kite company a small melbourne firm that sells kites on the web wants a master budget for the next 3 months
Prepare the journal entries necessary in the fund-based and government-wide journals to record each of the following transactions
Explain what must have happened to account for the remainder of the change in the accumulated depreciation account during 2007.
1. what is the impact on the founders and round one investors final ownership assuming the second round is funded by outsiders?
Discuss the key factors that should be considered when determining whether an item should be expensed. Speculate how Joe Carter arrived at his decision to expense the carpets replaced in the apartments.
one company purchases all of the outstanding shares of another company. the acquiring company incurs the following
If a company's cash flows for expenses temporarily exceed its cash flows from revenues, how might it make up the difference so that it can maintain liquidity?
at the beginning of year 1 kare company initiated a quality improvement program. considerable effort was expended over
how can a firms security policies contribute and relate to the six main business objectives and give
Select two aspects of a performance appraisal from the following list. In at least 250 words, explain the following: what are the special challenges in each area and what would be the effects on employees and employers if the challenges were not a..
Prepare the appropriate journal entries for fiscal 2007. Assume the marina operator is unsophisticated in business. Explain the managerial significance of the accounting above to this person.
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