GAAP, evaluation and decision-making

Article Abstract:

Accountants would have to acquire skills as the generally accepted accounting principles (GAAP) are rapidly evolving to a point where some of them would have to be revised to accomodate new ideas. Educators have to equip students with the skills to help them formulate ideas to suit business requirements. Accountants would have to be creative as the GAAP is not used by all businesses as dictated by popular opinion.

Practice, Accountants

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Improving on GAAP

Article Abstract:

Generally accepted accounting principles for insurance companies have not kept pace with such developments such as replacement value coverage. Replacement value coverage gives a business the option to protect its assets against inflation, innovations in technology and repair costs from legal changes required after a loss. However, proceeds of replacement value coverages are conditional.

Insurance, Insurance Carriers and Related Activities, INSURANCE CARRIERS, Insurance industry, Accounting and auditing, Replacement cost insurance

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The world according to US GAAP

Article Abstract:

Issues are presented concerning the growing importance of US accounting standards in the compilation of international accounting standards. The strength of US capital markets in the global economy are discussed.

Economic aspects, Capital market, Capital markets, International economic relations

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