Article Abstract:
The Accounting Standards Board has issued a re-exposure draft revising its proposals on foreign currency translation. Like the first exposure draft introduced in Sep. 1993, the revised proposals call for the scrapping of the requirement to defer and amortize exchange gains and losses on long-term debt. However, proposals regarding hedge accounting have changed significantly in that three criteria are introduced for the application of this accounting method. The ASB awaits comments on these new proposals.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
State-approved regulations control the direction and exchange of accounting services. A series of 'input ' and 'output' regulations ensure the quality of auditing services demanded in the market. Theories on the historical foundations of accounting regulations have been suggested by a number of scholars to further understand and assess changes in accounting regulations in the future. These theories are: public interest (market failure) theory, regulatory capture theory and the theory of corporatism.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
The destruction of the Berlin Wall has unleashed a wave of chartered accountants heading for what was formerly East Germany. Wirtschaftsprufers, or West German accounting professionals, are needed for the unified Germany's economic restructuring. For instance, the conversion to the deutsche mark as the national currency has necessitated that corporate financial statements be prepared along DM Opening Balance Sheet rulings.
User Contributions:
Comment about this article or add new information about this topic: