This article describes the procedures by which accounting standards are established in the United States. It illustrates the application of those procedures in practice, by describing how they are being applied to develop standards for accounting for inflation. The United States has a unique institutional structure for the promulgation of accounting standards a private sector Financial Accounti...

Wireless LAN is rapidly becoming a crucial component in the next generation mobile communication. In spite of this success, user’s privacy and access control like the authentication problems along with the Accounting and the Billing problems are arising. Especially in the accounting field, the research for the packet accounting based on IP is insufficient so that several ISP’s adopted a fixed s...

a r t i c l e i n f o This exploratory study empirically examines the degree to which the Japanese accounting academics is exposed to the IESs and explores their perception of the importance of global harmonization in accounting education in terms of ensuring quality global control of the accounting profession. Responses from 76 questionnaires found that accounting staff, particularly in the po...

Inflation is the level of prices increasing at a substantial rate over some time, thus requiring more money each year to buy given amount goods and services. Financial statements are instruments an enterprise that show financial situation outcomes functions. In high inflationary periods, if they reported in monetary unit identicalhyperinflationary economy do not reflect real activity entity. Ma...

Based on IFRS laws, British companies have started providing their reporting systems according to International Standards Requirements regarding disclosing their financial derivatives since January 2005. In 2013, Iran revised its Accounting Standard No. 15 to include the derivative instruments. The present study aims at investigating the effect of this revision on financial derivatives and inst...

This paper focuses on the accounting concept of impairment of long lived assets and goodwill. The objective is to identify the differences between the Financial Accounting Standards Board’s (FASB) and the International Accounting Standards Board’s (IASB) standards on impairment and to recommend a converged standard that will be acceptable to both bodies. Information for the research was obtaine...

SYNOPSIS: This essay analyzes some problems that accounting standard setters confront in erecting barriers to managers bent on boosting their firms’ financial reports through financial engineering (FE) activities. It also poses some unsolved research questions regarding interactions between preparers and standard setters. It starts by discussing the history of lease accounting to illustrate the...

The Financial Accounting Standards Board (FASB) regulates financial accounting. FASB issues two kinds of accounting pronouncements. The first kind are Statements of Financial Accounting Concepts (SFACs). They are the theoretical foundation for the regulations which are promulgated in the Statements of Financial Accounting Standards (SFASs). FASB‟s theoretical statements are based on unstated ph...