An Analysis of Corporate Collapses

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S., & Hassan, M. K. (2012). The domination of financial accounting on managerial Commerce & Management, 22(4), 306-327. doi:10.1108/10569211211284502

In 1853, first association of professional accountants, it also can be regarded as the beginning of the modern accounting profession. The UK accounting system is conducive to a principles-based approach rather than a rules-based approach to standard setting. Furthermore, the UK 's politic system is common law, which shows that accounting system in the UK has relatively fewer statutes, more interpretation and tends to be more flexible, adaptive and innovative, etc. Also, taxation does not have influence on accounting system, but Germany and Japan are in opposite Therefore, these all can have a significant influence on accounting system in the UK.

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ABC Learning Ltd was an Australian provider of early child hood education services, founded in Queensland in 1988, that through its 18 centres was the largest single operator of early childhood education services in Australia by 1997. Led by founder Eddy Groves, ABC Learning Ltd continued to grow, through the opening of new centres and the acquisitions of rivals i.e. peppercorn Childcare in 2004 in which 450 centres were purchased for $340 million. “By 2008, ABC Learning was the largest provider of childcare, holding around 20 per cent of the long day care market and providing care to over 100 000 children” (Senate education, employment workplace relations committee, 2009).

In business, many transactions are themselves triangulated; in the case of options, the triangle includes the entity, the owner, and the employee. In the accounting model developed over 500 years, the trader or entity has always been regarded as the center. This view has led to one- and two-dimensional accounting conventions and standards. Efficient contracting was the general premise underlying some of the early work on the economic consequences of accounting method choice. This work examined the incentives to choose among accounting methods because of the explicit and implicit contracts that relied on accounting numbers. The efficient contracting perspective with respect to accounting choice implies that accounting methods, like the form of organization chosen or the form of contracts written, will be selected to minimize agency costs amongst the various parties to the firm. This optimization will result in maximizing the value of the firm. If managers have a comparative advantage in providing information about their firms, we would expect them to be compensated in part on the basis of their ability to provide information about the

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Ball, R. / Kothari, S. / Robin, A. (2000): The effect of international institutional factors on properties of accounting earnings, Journal of Accounting and Economics, Vol. 29, (2000) pp. 1-51.

Financial distress can have many different meaning, however in a corporate world it refers to a circumstance where a company struggles to pay off financial obligations to the creditors. In order for a company to become distressed that means their fixed cost are extensive and all their assets are liquid. This happens when the cash flows could not fulfill and meet its obligations financially.

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