PPT-Rules-Based Versus Principles-Based Accounting Standards

Rick Mergenthaler University of Iowa Motivation Accounting Scandals eg Enron Congress asks the SEC to examine implications of adopting more principlesbased standards in the US The SEC releases a Roadmap to IFRS adoption which is believed to be more principlesbased than US GAAP . By Phil Rickard. Associate Professor of Accounting, Mount Vernon Nazarene University. What is U.S. Accounting Convergence?. Accounting Harmonization. Relates to the process of substantially standardizing the rules and regulations for international securities and the related accounting principles across . Foundations of . Recreation, Parks, Tourism. And Leisure Services. Wisdom grows as knowledge shrinks, and facts are swallowed up in principles.. --Dr. Edsko Jerry Dyksterhuis Texas A&M University, 1968. RICHARD G. SCHROEDER . MYRTLE . W. CLARK . JACK . M. CATHEY. THEORY . AND. ANALYSIS: . TEXT AND CASES. 11. TH. EDITION. CHAPTER 1. THE DEVELOPMENT OF ACCOUNTING THEORY. Introduction. What is theory?. The standard was extensively revised in Dec 2003. The new title reflects the fact that the material on determining net profit or loss for the period has been transferred to IAS 1.. Mr. Barry. A-level Accounting Year 13. ACCOUNTING. AN ECONOMIC DEVELOPMENT. ACCUSER. OF ACCOUNTING INFORMATION . OUTING. AS AN A INFORMATION SYSTEM. FACTORES INFLUENCING ACCOUNTING ENVIRONMENT. ACCOUNTING STANDERDS . ACCOUNTING PRINCIPLE . The Ten Abominations. These ten rules were part of China’s legal system as early as 1000 B.C. and lasted through the dynasties. They were accompanied by harsh punishments. Though the legal code changed over time these 10 principles were fairly constant.. College of Business and Communication. What Can I Do. With An Accounting Degree?. BYU-Idaho . Accounting Department. Audit Services. Tax Compliance and Consulting. Information Systems Management & Consulting. Fundamentals of Law & . Government. Maciej Pichlak . PhD. Department. of . Legal. . Theory. and . Philosophy. of Law. University of . Wroclaw. Maciej.Pichlak@uwr.edu.pl. . Structure of a norm. REGINA HAILEY . GRANTS ACCOUNTANT MANAGER . ACCOUNTING APPLICATIONS . . Grants Accounting Online Reporting Systems (GAORS). Consolidated Application (Con AP). Invoice Application . Completion Report Application . 14 ETHICS GENERAL PRINCIPLESThe following general principles apply to every employee and may form the basis for the standards contained in this part Where a situation is not covered by the standards The Benefits of Reading Books Definition and Governing Bodies. . GAAP PowerPoint #1. Generally Accepted Accounting Principles. Defined as the set of accepted industry rules, practices and guidelines for financial accounting . Includes the standards, conventions, and rules accountants follow in recording and summarizing transactions, and in the preparation of financial statements. (A) Accounting concepts.. (B) Accounting conventions.. Accounting concepts- . Accounting concepts are the fundamental assumptions on which transactions are recorded and financial statements are prepared. These concepts provide base for accounting process. While doing accounting use of these concepts are compulsory and they are not optional. More or less they are rigid and can not be changed. . n. a. n. cial. . R. e. p. o. rting. . S. t. a. n. d. a. rds. (. I. F. R. S. ). S. u. b. :. . F. i. n. a. n. c. ial. . R. e. p. o. r. ting. . a. n. d. . A. n. a. l. y. sis. C. o. u. r. s. e. . :.