Accounting Theory: Standard Setting Process Analysis and Implications

This report provides an executive summary and analysis of accounting theory, emphasizing the standard-setting process and its impact on business performance. The report explores the importance of accounting standards for achieving effective results, assessing business performance, and setting targets. It examines the standard-setting process, including the roles of IASB and different legislative traditions. The analysis includes strengths and weaknesses, such as the impact of code law and common law traditions, the influence of financial statements, and the challenges of new perspectives. The report also discusses findings related to the importance of contribution and intensity for developing results. The conclusion highlights key elements for developing outcomes in a systematic manner. The report references various books and journals to support its findings and arguments. This report is a valuable resource for students and professionals seeking a deeper understanding of accounting theory and its practical applications.

ACCOUNTING THEORY
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Executive summary
From the above report, it has been assess that there are different element which create
effective results and performances to dealing with different outcomes. With the help of proper
working and effective results, every business of Australia can ascertain their results and
performances in systematic manner (Petruk, Legenchuk and Koroliuk, 2013). With the help of
proper functioning every article determines strength and weakness of the company. Furthermore,
it assess the business performances to shows impact of the results for develops results in
systematic manner. In respect to dealing with new elements, it has been shown that targets can be
ascertain for achieve common goals and objectives. With the help of proper and effective
functioning, it has been determines, there are different element which covers for cover the
business performances in effective aspect. There are various aspect which ascertain for
developing ideas and operations at workplace. With the help of proper function, every company
can develop their performances and results for assess their results and outcomes. It is also ensure
that business need to concentrate on their strength which assist to enhance results and
performances in effective way (Wenqing, Fengguo and Genqiang, 2015). In addition to this, it is
also create effective working environment that implication of different resources that are require
for developing results. It is creating effective results and performances for ascertain the targets
and roles. With proper working environment, it is also shows that targets can be ascertain for
developing results and performances in successful manner so that business will develops their
results and outcomes. Accounting theory is determines effective performances which need to be
know clearly for assessment of the business targets and goals. As results, article determines their
performances which need to know for assessment of the targets and it is also shows that
performances will be develops as per the goals and objectives which require perform targets and
results at workplace (Petruk, Legenchuk and Koroliuk, 2013). Hence, business need to
concentrate on their results and performances in effective manner. It is also describes that there
are different which considering for assessment of the results.
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Table of Contents
INTRODUCTION...........................................................................................................................4
Main body........................................................................................................................................4
2........................................................................................................................................................4
Standard setting process analysis and implication.................................................................4
3........................................................................................................................................................6
Finding....................................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
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INTRODUCTION
In respect to make effective results and performances, accounting standards are develops
within the market (Wenqing, Fengguo and Genqiang, 2015). It assists to make several
opportunity for foreseen different stakeholders. Accounting standard board develops their
standard for different stakeholders to influence them towards the organisation. Furthermore, it
includes several factors which creates lease standard for setting the process. It is also presented
in accounting standard which assist to grow operations and outcomes in systematic way.
Main body
2.
Standard setting process analysis and implication
In respect to make effective outcomes and performances accounting standard develops
their results that assist to meet with targets and goals. In this aspect, development ascertain for
analysis the results in systematic way. It assist to develops high quality standards which allow to
all people to take participation in this aspect. Hence, the can maintains performance with assess
business needs for establish effective outcomes. IASB (International accounting standard board)
has similar process with national accounting which would be develops for assess the company
operations and performances.
Strength and weaknesses
In the Europe there are two different types of legislation take place which assist to create
effective results in the market. It includes a code law tradition and common law tradition. The
code law tradition is stands for Continent Europe which working for the public sector of the
areas. However, it can be also create negative results which show profitability within the
company (Wenqing, Fengguo and Genqiang, 2015). In this way, it is essential to know about the
IASB demand for enhance their outcomes and performances. Hence, purposes can be set in this
standard for intended into the account (Petruk, Legenchuk and Koroliuk, 2013).
In addition to this, another article describes factors which predict behaviour of corporate
groups in respect to the lease standard process. Hence, it can be assess that how non financial
companies can respond towards the business article. It can be depend on participation of
different discussion period which need to be ascertain for assign effective results and
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performances. This article determines strength to build relationship with different other
businesses who take part in targets and achievement (Wenqing, Fengguo and Genqiang, 2015).
Strength and weaknesses
In this way, new approach creates significance consequence which affects to the financial
statement across the sector (Petruk, Legenchuk and Koroliuk, 2013). There are different types of
industries also take place which demonstrate intensive exposure to operating leases would
naturally considers great consequence. In addition to this, companies also examined their results
with asses capitalized operating leases. It has been shown that financial ratios are substantially
affected due to interest rates and off balance sheet. Beside this, there are some weaknesses of this
article such as reducing in choice of theory to conduct examination in particular results (Dobija
and Kurek, 2013). Reducing concern about the recognition of assets and liabilities from the
contract can be affect to the results and financial performances of the company. Thus, it is
beneficial to make sure that targets and results need to be achieve for demonstrate results and
performances. New experience and exposure is not good always so that it is essential to make
sure that targets and results have been uncertain at workplace which assess the business
requirement (Smith, 2014). New perspective can hamper to the business position to determine
effective position and performances of the results. Hence, it creates results in systematic way.
Another accounting standard perceive to make sure that standard of accounting process are
demonstrating towards the social and economic exposure (Wenqing, Fengguo and Genqiang,
2015). Due to the exposure of the process, balancing mechanism which can be providing in
different element to dealing with certain outcomes. In this article shown that established
elements by the development process of the company. It includes different element which take
place for ascertain the results and performances (Englund and Gerdin, 2014).
Strength and weaknesses
Process of submitting the comments on published exposure draft attempting the results and
performances. Draft is the most important element which shown that standard are settle which
observes in previous lobbying research. Research is also address that standard letter of the
business outcomes determines effective results which shows purposes of the respondents
position and it can be creates impact on decisions that are made by standard settlement (Petruk,
Legenchuk and Koroliuk, 2013). However, due to the article process, it has been shown that
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there are financial element are very poor which need to be ascertain for the development of the
business and other element. In respect to make sure all elements need to be shown in positive
aspects. Company need to assess their outcomes and performances as per the business
requirement. It will develops positive comments which need to be know about the standard and
performances that require for developing performances (Edwards, 2014). Setting accounting
standard includes restriction of the behaviour which need to know very careful. Restriction is
also take place when accounting standard are determines as per the choice of the business
outcomes. It is also create disadvantages towards the economy perspective which shows business
results. Existence of the due process is also included for analysis the performances and results as
per the requirement of economically perspective (Velayutham, 2014).
3.
Finding
In respect to considered effective results and performances, it is very important to
determines results and performances in effective way. With the help of proper working and
recommendation, the company can develops their performances which need to be know about
the business results and outcomes. As per the requirement of outcomes and performances, it is
essential to collects contribution of different people performances (Caskey and Corona, 2016). In
addition to this, in order to compare the results, it has been shown that targets and results are
develops for ascertain the effective results and performances which need to be know in effective
way. It determines new way for enhance results and performances which need to be undertake in
effective results and performances of the business results. In addition to this, sample of the
papers also creating results which shown for assess the results in effective way (Mohammadi,
2015). Hence, the targets and outcomes can be reviewed that need to be taken for assessment of
the all article. In addition to this, findings also shows that intensity is not effectively working. It
is requiring create profitable firm which dominant their position at workplace. For development
of the targets and results, it has been determine that position can be expanded in effective manner
(Bebbington, Unerman and O'Dwyer, 2014).
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CONCLUSION
From the above report, it has been concluded that there are various elements which ascertain
for developing outcomes and results in systematic manner. With the help of proper functioning
and results, it is clearly determines that different article possess effective results and
performances to make sure that business can get proper functioning through concentrate on
results and performances for assessment of the business environment results.
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REFERENCES
Books and Journals
Bebbington, J., Unerman, J. and O'Dwyer, B., 2014. Sustainability accounting and
accountability. Routledge.
Caskey, J. and Corona, C., 2016. Commentary on: Thoughts on the Divide between Theoretical
and Empirical Research in Accounting. Journal of Financial Reporting. 1(2). pp.59-64.
Dobija, M. and Kurek, B., 2013. Scientific provenance of accounting. International Journal of
Accounting and Economics Studies. 1(2). pp.16-24.
Edwards, J. R., 2014. Twentieth Century Accounting Thinkers (RLE Accounting). Routledge.
Englund, H. and Gerdin, J., 2014. Structuration theory in accounting research: Applications and
applicability. Critical Perspectives on Accounting. 25(2). pp.162-180.
Mohammadi, S., 2015. Full development of the theory of accounting and auditing. International
Journal of Accounting and Economics Studies. 3(1). pp.7-9.
Petruk, O. M., Legenchuk, S. F. and Koroliuk, N. M., 2013. Development of Accounting Theory
in English-Speaking Countries: On the Way to Multi-Paradigmatic Discipline. Облік і
фінанси. (3). pp.48-56.
Smith, M., 2014. Research methods in accounting. Sage.
Velayutham, S., 2014. “Conventional” accounting vs “Islamic” accounting: the debate revisited.
Journal of Islamic Accounting and Business Research. 5(2). pp.126-141.
Wenqing, P., Fengguo, W. and Genqiang, L., 2015. A Review of Accounting Theories for Trade
in Value Added in the Context of Global Value Chains. Statistical Research. 3. p.011.
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