1. Introduction Once the largest provider of internet-based communication services and the second largest long-distance telephone company in the US, WorldCom became one of the most popular case studies for corporate ethics, financial frauds and senior management irresponsibility along with … Continue reading
This paper represents a policy paper that contains a critical analysis of Bank of England monetary policy. The paper starts with reflecting upon the main principles of Monetary Policy Committee (MPC) practices. This is followed by discussions about the role … Continue reading
This paper critically analyses the extent at which a failure in global governance contributed to the recent global credit crunch. The paper starts with discussing the primary reasons of the credit crunch of 2007-2009, and its implications on the global … Continue reading
The routines of adoption have been the conservative and the formats to be prescribed in detail in valuation of assets. The differences under IFRS and GAAP have been seen in the example of Telofonica Company, as its balance sheet showed … Continue reading
1. Advantages of IFRS compared to GAAP reporting standards 1.1 Focus on investors One of the significant advantages of IFRS compared to GAAP is its focus on investors in the following ways: The first factor is that IFRS promise more … Continue reading
The main differences between GAAP and IFRS, are mainly that IFRS has wider rules and less specific guidance which gives more room to interpretation of the financial statements. Because the IFRS incorporates the value of judgement by the accountant, it … Continue reading
Globalisation has been one of the factors that has played great role in accelerating the harmonization of IFRS to improve the transparency and comparability. As more and more countries are opening their domestic markets to join international trade, the access … Continue reading
“The decision of the Commission of the European Union (EU) to oblige listed European companies…to establish their consolidated financial statements according to IFRS (IAS) represents a preliminary peak in the internationalisation process of financial accounting in Europe” (Haller and Kepler, … Continue reading
Presence of world’s leading retailers such as Tesco, Sainsbury’s and Marks & Spenser, fierce competition in pricing and in other terms and difficulties of market entry are the main characteristics of UK retail industry. Despite such complexities, some retailers could … Continue reading
It is important to mention the value and importance of the retail industry to the economy of the UK. According to Mintel Report (2009), retail industry of the UK is considered to be highly important and contributing factor to the … Continue reading