This article is mainly about an opinion given by Philip Broadley about an article written by Stephen H. Penman regarding the fair value measurement issues. Philip Broadley is a finance director of Prudential plc and also Chairman of the Hundred Group of Finance Directors. He was invited to give opinion from preparer's perspective on Stephen H. Penman's paper, whether fair value helps on the quality of financial reporting. Upon on it, Philip Broadley thinks that preparer take an intense intere...
The critical examination mandated by the present question requires an introductory note concerning the appropriate definition to be employed regarding the terms formation and racism. Formation is suggested to be a less than ideal expression to describe the processes of modern state development. In this sense the term evolution is preferred as the more accurate and organic experience of modern state development. Racism is a more complicated term due to the variance between its dictionary meani...
Adhering to the International Financial Reporting Standards has become common practice in recent years. According to L. Murphy Smith, in his research summary Key Differences between IFRS and U.S. GAAP: Impact on Financial Reporting, " [o]ver 100 countries now require IFRS as the basis of financial reporting by their publicly-traded companies. In the U.S., convergence of U.S. GAAP to IFRS has been ongoing for many years." The Taiwan government also has been working on adopt IFRS step by step s...
Avoiding taxes is, when done legally, one of those things that almost everyone truly enjoys. the most attractive feature of Annuity is "Tax-Deferred Growth". Deferred Annuity is a type of contract that delays payment of income installments or a lump sum until the investor elects to receive them. This type of annuity has two main phases, the savings phase (in which you invest money into the account) and the income phase (in which the plan is converted into an annuity and guaranteed payments...
Many firms attempt to manage the exposure and publicity of their native currency through hedging. Currency Hedging is used to an approach intended to deal with the severity of the risk that may occur when involved in a foreign investment tactic. Basically, the construction of a Currency Hedging method would attempt to reimburse any alterations or changes in the comparative value of the currency. The purpose of Currency Hedging schemes is that by minimizing the publicity of the investors to ne...
The environment is under constant threat as a result of modernisation, business activities, constant growth and development. All these are human activities that affect the immediate environment. The depletion in natural resources especially by the oil and gas companies such as the Pipeline Product Marketing Company (PPMC) has resulted in serious environmental impacts. Therefore, the need for sustainability and sustainable development cannot be overemphasized as it has become more important ov...
Becket is a historical drama of 1964, directed by Peter Glenville on the play by Jean Anouilh "Becket or the Honor of God." In 1154 the English throne shall take King Henry II. Archbishop of Canterbury plays a central role in protecting the prestige and authority of the church, but Henry II needed subservient Archbishop's throne, a man whom he could trust completely, and he finds in the face of his friend Thomas Becket. But when the king formally appoints him Archbishop of Canterbury, Becket...
The pursuit of such approach involves moving the focus of attention away from simply looking at short-term profits to a longer-term view of value creation, the motivation being that if implemented correctly, it will help the business to stay ahead in an increasingly competitive business world. This dissertation sought to investigate whether companies were implementing the concept of shareholder value. In particular it examines the current standing of shareholder value in corporate reporting p...
This eassy mainly introduced the information about the International Accounting standards of Inventory(IAS 2). First, we introduced the background of the IAS 2; then we discussed the major requirements of the standards and the importance of these requirements; after that we critically evaluate the IAS 2. Background The IASs, International Accounting Standards, which issued with the IASC setting up in 1973, are the common standards followed by accountancy bodies. Then, the IASB with new accoun...
Introduction: In recent years, there are many cases which have been involved in fraudulent accounting practice, such as the Enron and the WorldCom had tried to exaggerate their earnings for the purpose of maintaining high share prices. Those problems lead to a lack of confidence in information in financial reporting. The answer to the question whether a firm's balance sheet and income statement prepared under Generally Accepted Accounting Principles (GAAP) inform investor of company's perform...