Harmonization of accounting practices in the EEC
Article Abstract:
The main objective of the European Economic Community (EEC) is to create a common market for its member states by promoting the free movement of persons, services and capital among those states. To this end, the EEC has sought to harmonize the laws governing the preparation of financial statements within the member states. The process through which proposals become adopted as directives by the Council of Ministers and are then implemented by the member states is described. Each of the eight directives which focus on harmonizing company laws within the EEC are described, and a report on the progress of their implementation is given; particular attention is given to those directives which may particularly impinge on U.S. companies.
Publication Name: The Woman CPA
Subject: Women's issues/gender studies
ISSN: 0043-7271
Year: 1986
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Authoritative sources for governmental accounting principles
Article Abstract:
The Financial Accounting Foundation (FAF) oversees and finances the Financial Accounting Standards Board (FASB) and the Government Accounting Standards Board (GASB). The FAF Agreement defines their roles and lists categories in the hierarchy of generally accepted accounting principles (GAAP) for state and local government. The authoritative literature upon which the categories are based is reviewed. Conflicting accounting standards have been issued by FASB and GASB for pension plans and the recognition of depreciation. Accountants can resolve these and other conflicts by using their professional judgement and the GAAP in the FAF hierarchy to select the standard that would give the most informative financial statement.
Publication Name: The Woman CPA
Subject: Women's issues/gender studies
ISSN: 0043-7271
Year: 1988
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Troubled debt restructuring
Article Abstract:
Preparation of conventional financial reports will involve a complicated process that can be affected by the requirement that various needs be met. The needs can include the abilities to handle various masters, preserve theoretical consistency, and adhere to the conditions of the real economic world. Consequently, financial reporting must evaluate and detail behavior, yet not become the object of behavior. The economic decision cannot be influenced by the accounting principle used; accounting techniques should report such economic decisions only.
Publication Name: The Woman CPA
Subject: Women's issues/gender studies
ISSN: 0043-7271
Year: 1986
User Contributions:
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