The future of accounting standards
Article Abstract:
UK accounting standards are under increasing pressure to adopt a stricter definition in theory, policy, and practice. The questions raised by this are: what are the standards, who will set them, and who will enforce them? Recent financial scandals in the UK have brought these questions to the fore, as have the demands of users of financial statements for clearer, more consistent, and more meaningful reports. These questions and demands have not been answered yet, but they have been heard. The US Financial Standards Accounting Board and the UK Accounting Standards Committee are examining them now, particularly in view of the internationalization of financial markets and the wave of national and transnational mergers and acquisitions.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1987
User Contributions:
Comment about this article or add new information about this topic:
The future of the accountant in industry
Article Abstract:
The role of the accountant in commerce and industry is discussed, as perceived by the Institute of Chartered Accountants in England and Wales' Understanding a Changing Environment Group. The role of finance directors who are not accountants in financial decision-making in organizations is also discussed. If commerce and industry stop demanding newly qualified accountants, then the number of accountants leaving the profession will decrease and professional firms will become crowded with qualified accountants.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1986
User Contributions:
Comment about this article or add new information about this topic:
Changing roles on the City stage
Article Abstract:
The impact of financial deregulation on the British accounting profession is discussed. The main legislative Act of deregulation is the Financial Services Act of 1986. One effect of the act has been to increase the importance of self-regulatory bodies relative to government regulatory bodies. Other forces affecting the City of London include technological advances and the globalization of trade.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1988
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Sailing towards troubled waters. Changing Signals on the Kursk Lift. The Zumwalt-class destroyers
- Abstracts: A new thrust for international standards. Can the IASC cope with goodwill. Degrees of compliance
- Abstracts: The future of the ASC. A softly softly task force? No way! ED 40 - what about the balancing figure?
- Abstracts: The integration of microcomputers in marketing research and decision making. Some observations on the state of the art in marketing research
- Abstracts: Merger accounting - the red herring. The deference due to ED 39? Just one small step for the ASC...