Pro-regulation perspective

Reference no: EM13201098

"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: EM13201098

Questions Cloud

Record the journal entries to record the adjustments : Prepare the Bank Reconciliation Statement as at 31 January 2010 and prepare a schedule of the necessary adjustments to give the correct balance of the Cash at Bank account as at 31 January 2010.

How much will massey corp. produce nd what price will charge : Now Massey Corp. invents a new technology that allows her firm to produce gilders at a constant marginal cost of $9. There are large fixed costs amounting to $20,000 to adopt and maintain (each year) this new technology, but she is able to monopol..

Evaluate nelsons gross profit for march : How much are the sales revenue for March? Calculate Nelsons gross profit for March under each method and which method will result in the lowest income taxes for Nelson?

Explain being dropped from an initial height : The height, in feet, of a free-falling object t seconds after being dropped from an initial height s can be found using the function h = -16t2 + s. An object is dropped from a helicopter

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

State what is the null hypothesis : What is the null hypothesis? What is the alternative hypothesis? What is the type of test statistic? What is the degree of freedom?

State the compounding continuously formula : A woman deposits $50,000 in a savings account with 4% continuously compounded interest. How many years must she wait until the balance has doubled? Use the Compounding continuously formula and show the steps involved in getting the solution.

Calculate the cost of long-term debt : Find the break points associated with each source of capital and use them to specify each of the ranges of total new financing over which the firm's WACC remains constant and calculate the WACC over each of the ranges of total new financing specifi..

State truck drivers waiting in the queue : Truck drivers working for G.White and Sons earn $10 per hour on the average. Fruit loaders receive about $6 per hour. Truck drivers waiting in the queue or at the loading gate are drawing a salary but are productively idle

User Account

All Pages