Financial accounting is fairly heavily regulated in

Assignment Help Financial Accounting

Reference no: EM13378474

Financial accounting is fairly heavily regulated in Australia. There are numerous Corporations Act requirements, and there are many accounting standards, with additional standards being issued fairly frequently. The ASX provides extensive regulation for listed companies. But is all this regulation really necessary? What if we had no standards, and reporting entities could report what information they wanted in whatever format they considered appropriate?

Opinions on the need for regulation vary, and range from the 'free-market' perspective to the 'pro-regulation' perspective." (Deegan, 2010, p.38)

Required:

Discuss the above quotation. Explain and evaluate the arguments for and against regulation. What is your opinion of the current level of accounting regulation?

Reference no: EM13378474

Questions Cloud

The company is considering the acquisition of equipment : the company is considering the acquisition of equipment that would radically change its manufacturing process. the

Part a of this assignment requires an analysis of certain : part a of this assignment requires an analysis of certain aspects of brown ltdafter studying brown ltd answer the

Explain what the flowing statement by handel 1982 p 36 : explain what the flowing statement by handel 1982 p. 36 means and provide an argument to either support or oppose the

Polycorp is considering an investment in new plant of 3 : polycorp is considering an investment in new plant of 3 million. the project will be financed with a loan of 2000000

Financial accounting is fairly heavily regulated in : financial accounting is fairly heavily regulated in australia. there are numerous corporations act requirements and

Cash flows from operating activities indirect methodfor the : cash flows from operating activities indirect methodfor the year ended june 30 2010 net income for soak company was

Long term investments - adjusted to market and equity : long term investments - adjusted to market and equity methods.on january 1 2010 cavalier corporation purchased 8

Recording a bond issue and interestnora corporation issued : recording a bond issue and interestnora corporation issued 8.5 five year bonds with a face value of 8000000 on march 1

The following data are available for sellco for the fiscal : the following data are available for sellco for the fiscal year ended on january 31 2011sales . . . . . . . . . . . . .

User Account

All Pages