The Objectives Of Financial Accounting Standards Board

3137 Words13 Pages
Introduction With the fast-growing economic globalisation and inter-dependent financial markets´ institutions, accounting plays an essential role in business environment. Among the general reasons that make accounting a vital component of financial services industry is the fact that practices of accounting are profoundly implicated in the current financial crisis and in proposals for recapitalizing financial institutions and reestablishing stability to the global financial system. First of all, accountability for an individual or organization account for its activities to disclose transparent and fiduciary. Moreover, the objectives of Financial Accounting Standards Board (FASB) could make economic decisions that affect the nation’s…show more content…
In this paper we explore the suggestion that the Greece erupted in European sovereign debt crisis primarily. The reason causes of European Sovereign Debt occur At least at first glance, the sovereign debt problem is actually a continuation and deepening of the financial crisis. In general, the private sector debt is relatively high in the period of economic boom, but after each crisis, the government 's budget deficit were deteriorate. US subprime mortgage crisis triggered a global economic recession, but also ignited the European a huge debt risk still exist. In order to against the high systemic risk, each of countries for the sake of economic bailout they spending a huge part of the capital for many years to relax fiscal discipline, to control deficits ineffective, to make the current 16-nation Euro area average deficit exceeded 6 to 7 per cent (see also the Sebastian Barnes, Jeremy Lawson, Artur Radziwill 2010; Trabelsi Mohamed Ali 2012) and national debt exceeded its budget deficit is too high directly attributed to this debt crisis occur. Furthermore, the euro zone fiscal and monetary policy led to the emergence of duality sovereign debt problems.1 On one hand, the euro area fiscal policy spillovers
Open Document