The social impact of accounting
Some sectors believe that the social and economic impacts of accounting should be central in the setting of accounting standards. The Financial Accounting Standards Board (FASB) standards for gas and oil accounting and foreign currency translation are unsatisfactory, because they are based on historical cost accounting. Any successful method of accounting should take into consideration the results of the expenditures allocated and give a consistent treatment to all assets by using current cost values. Accounting information should also be as neutral as possible. Satisfactory accounting standards are important because they have an economic impact and can change economic behavior such as reinsurance and hedging. Accounting standards can also be influenced by politics.
Publication Name: FE: the Magazine for Financial Executives
Resignation or abdication - the credibility of auditor resignation statements
A study of the accountancy profession shows out of 340 auditor resignations almost all outgoing auditors report that there are not matters that should be brought to the attention of members or creditors. However the audit fees and reporting behaviour of incoming auditors suggest the credibility of auditor resignation statements should be questioned.
Publication Name: Accounting Forum
Questions to Ask when Selecting an Auditor
The type and extent of auditing services available varies greatly. A treasurer must decide what degree of auditor involvement is desired. Choosing an auditor who has a background in a given industry is of particular importance. Several CPA firms should be interviewed and compared as to costs, viewpoints, and qualifications.
Publication Name: Cashflow Magazine
- Abstracts: The relative importance of common factors across the European equity markets. Compensation vouchers and equity markets: Evidence from Hungary
- Abstracts: Cons Are Pros at Inbound Telemarketing. Telemarketing Implementation: A Matter of Marketing Strategy
- Abstracts: The value of base rate options in the Eurocredit market. On Estimates of Long-Run Rates of Return: A Note. How Does Inflation Affect a BHC's Rate of Return?
- Abstracts: Capital gains tax: implications for the firms's cost of capital, share valuation and investment decision-making
- Abstracts: Training for Audit in the Health Service. Audit Planning and Control. Preparing Local Audit Manuals