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COVER
STORY
XBRL:
A Revolution in Corporate Reporting?
- - William M Sinnett
This
article describes the importance and role of eXtensive Business
Reporting Language (XBRL) as a tool for business reporting.
The article also deals with examples of companies that are
implementing XBRL.
©
2006 Financial Executive Magazine (www.fei.org/mag). Reprinted
with permission.
ACCOUNTING
General
Look Upon Romanian Accountancy: History, Present and Future
- - Lucian Cernusca, and Cristina Puscas
This article describes the history, present and future
of Romanian Accountancy. The article also emphasizes the need
for harmonization of accounting standards.
©
2006 IUP . All Rights Reserved
ACCOUNTING
Lean
Accounting
- - Sunitha K Ravi, and P Thirumalvalavan
Lean
management is an applied philosophy that many manufacturing,
service and government organizations have adopted to acquire
the flexibility needed to meet new competitive challengeseliminating
waste, enhancing production speed and pushing innovation.
The objective of the approach specifically called "lean" is
to respond rapidly to changing client tastes and to offer
the most value possible at mass production costs. Lean enterprises
are continuously improving to streamline their operations.
The approach is extremely appealing to industrial companies.
In recent years a number of management approaches with these
same objectives have emerged under various names. Total Quality,
Kaizen, Kanban, and Six Sigma are all solutions that work
towards the same ultimate goal of the lean technique. This
article describes the lean accounting approach that supports
lean manufacturing.
©
2006 IUP . All Rights Reserved
ACCOUNTING
Business
Combinations
- - Stephen Spector
The
AcSB is proposing significant changes while accounting for
business combinations.
©
2005 CGA Online Services Corporation (www.cga-online.org).
Reprinted with permission.
ACCOUNTING
STANDARDS
AS
15(1995) to AS 15(2005): A Journey from Retirement Benefits
to Employee Benefits
- - Satyajit Dhar
This
article describes the revision of AS 15 with regard to the
retirement benefits of employees. The article also focuses
upon financial implications of the revised standard and important
accounting and disclosure requirements of AS 15 (2005).
©
2006 IUP . All Rights Reserved
AUDITING
Audit
of Environmental Issue
- - Mukesh Chauhan
This
article is an attempt to describe the issues of environmental
audit and types of environmental audit along with suggestions
for better development.
©
2006 IUP . All Rights Reserved
CORPORATE
GOVERNANCE
Lessons
in Corporate Governance for the Corporate and Banking Sector
- - Pawan R Agarwal
This
article deals with the evolution of corporate governance practices
in the banks. It discusses the recommendations of various
committees on corporate governance practices in the UK, and
also focuses on corporate governance practices in India.
©
2006 IUP . All Rights Reserved
CORPORATE
GOVERNANCE
Can
Sarbanes-Oxley Hold the Keys to Nonprofit Governance?
- - J Stephen McNally, and Joseph T Steuer
This
article describes the importance of the Sarbanes-Oxley Act
to strengthen the public securities market by holding the
management accountable for material information filed with
the SEC. The article also describes the best practices of
SOX in case of non profit organizations.
©
2006 Pennsylvania CPA Journal, a Publication of the Pennsylvania
Institute of Certified Public Accountants. Reprinted with
permission.
CORPORATE
GOVERNANCE
Compliance
Costs
- - Peter Morton
Canadian
companies are in an uproar over the proposed governance regulations.
They say the new rules wont do what they are expected to
do.
©
2005 CA Magazine (www.camagazine.com). Published by The Canadian
Institute of Chartered Accountants, Toronto, Canada. Reprinted
with permission
TAXATION
VAT:
Current Scenario in India
- - C Padmavathi
This
article highlights the rationale behind the implementation
of VAT, the salient features of the first phase of VAT, the
status of implementation of VAT and also the success and future
of VAT.
©
2006 IUP . All Rights Reserved
SPEECH
Speech
by SEC Staff: Remarks before the Federation of European Accountants
International Financial Reporting Standards and the US Capital
Market
- - Ethiopis Tafara
The
speech was presented by Ethiopis Tafara, Director, Office
of International Affairs, US Securities and Exchange Commission,
on accounting convergence and consistency. His speech focuses
on the "Road Map" articulated by the SEC staff that sets forth
the objectives towards eliminating the US GAAP reconciliation
requirement for foreign issuers selling shares in the US capital
market, and preparing the financial statements using International
Financial Reporting Standards (IFRS).
©
2005 US Securities and Exchange Commission (www.sec.gov).
Speech by Ethiopis Tafara, Director, Office of International
Affairs US Securities and Exchange Commission delivered on
December 1, 2005 in Brussels.
RESEARCH
SUMMARY
The
Effects of Principles-based Accounting Standards on Accounting
Quality
This paper investigates the accounting quality effects
of implementing four major balance sheet accounting standards
on accounting quality. The positive impact of balance sheet
accounting standards on forecast error, forecast dispersion
and the explanatory power of a valuation model is established
in this paper. The results are consistent with benefits to
s and investors on the latest information provided
by the accounting standards. The paper recommends assessing
the advantages of a principle-based model for future accounting
standard setting.
©
2005 Mark J Kohlbeck and Terry Warfield. All Rights Reserved.
IUP holds the copyright for the Summary. |
