A List Of Meanings A Non Accountant

It is an important function of any organisation to regulate the external financial reporting. The legislation that governs the external financial reporting is Financial reporting act 2013 (FRA) and The companies act 1993 (Deegan & Samkin, 2013). The Regulation is required to safeguard the interests of those using the financial information but do not directly participate in the business. These users may be both primary and secondary. The information provided by the financial statements are used for making economic decisions by its users (NZASB, 2016a). The regulation of external financial reporting does not only help the external users

Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms.

According to the relevant analysis, a couple of recommendations been derived in relevance to legitimize corporate social and environmental disclosures via social contract and natural rights. Each government plays a vital role around the globe in producing effective elements on policies and regulation to promote an eco-friendly environment and efficient way of using resources.

This paper will analyze these views as they apply to the discloser of segment information for public entities as required by topic 280 of the FASB accounting standards codification, and discussed in Statement of Financial Standards No. 131 (“SFAS 131). The paper is structured as follows: Section II provides an overview of the objective and general purpose of financial reporting and the qualitative characteristics off useful financial information as determined by the Financial Accounting Standards Board (“FASB”), section III introduces the concept of segment reporting and outlines the requirements for disclosures of segment information for public companies, section IV evaluates the relevance of

34. Which of the following presents a summary of changes in a firm’s balance sheet from the beginning of an accounting period to the end of that accounting period?

To gain or maintain legitimacy ,we might rely on disclosure within our annual report. Unlike many other 'resources', legitimacy is a resource that the organisation is considered to be able to impact or manipulate through various disclosure-related strategies(Woodward et al.,1996).

FASB has some guide lines of how companies should report or disclose information of their securities.

Atrill, P, McLaney, E, Harvey, D, Jenner, M 2008, Accounting: an introduction, 5th ed, PEARSON, Australia, pp191

Financially transparent by definition, public corporations accompany easy access to a myriad of financial reporting required by the United States Securities and Exchange Commission (SEC).

The disclosure environment information perspective of legitimacy theory is based on the consciousness, which about the corporate environmental activities in the views of the stakeholders, of the management. However, the studies, which about discovering what this consciousness is indeed, are rare less. Additionally, there are rare attempt to find how this consciousness impact the corporate operation. On the other hand, the legitimacy theory only has been developed in a macro level, but not developed in the micro level. Though the legitimacy theory is the mean to explain the disclosure of corporate environment information, this theory did not considered what specific type of environment information should be involved in the annual report(O 'Donovan, 2000).

(c) Statement of Financial Accounting Concepts No. 2 describes a number of key characteristics or qualities for accounting information. Briefly discuss the importance of any three of these qualities for financial reporting purposes.

Elsewhere, the introduction of the new IR framework by the IIRC (International Integrated Reporting Council) has been suggested to be a paradigm shift in the way corporations report their activities to stakeholders (Klettner, Clarke & Boersma 2014; Soderstrom 2013). Until now, business reports primarily focused on TBL (Triple-Bottom Line) reporting of economic, social and environmental impacts (Adams 2013). While some corporations have demonstrated a willingness to achieve higher standards of performance in corporate sustainability in line with international frameworks (such as the GRI), rarely do they produce reports which provide information on social and environmental issues to the same extent and quality as that of financial information (Boersma 2013;

Abstract Corporate governance Organization for Economic Co-operation and Development (OECD) principles, objectives and standards. Transparency in doing business and its impact on the business performance. Background of good transparency. Transparency guidelines which can enhance the performance. Transparency’s impact. Corporate Governance Disclosure. Criteria to be considered for the strong

Dixon et al. (2005) argue that the main reasons for the development of environmental disclosure are the increase of

Corporate transparency refers to removing barriers to and facilitating of free and easy public access to corporate information. Accounting standards are methodologies and disclosure requirements for the preparation and presentation of financial statements. Accounting standards are usually developed within the institutional and professional framework of a country, and promulgated by regulatory or professional accountancy bodies. Indian Accounting standards issued by Institute of Chartered Accountants of India are being harmonized with internationally recognized set of benchmark standards such as International Accounting Standards or the U.S. GAAP. The study is an empirical investigation on sample of listed companies to determine the extent of compliance with accounting standards leading to transparency in their financial statements. The paper is based on primary survey of Annual reports. Indian Accounting Standards mandatory for the listed companies are compared with disclosures made by the companies. The paper examines whether a significant relationship exists between disclosure in financial reporting and a number of key corporate characteristics like size, profitability, leverage, age of company etc. The collected data is being analyzed with Regression Analysis [OLS].Indian companies have shown high degree of compliance with disclosure requirements of Accounting Standards.