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Stigler's 'private interest theory' proposes that regulatory bodies (including accounting standard setters) are made up of individuals who are self-interested, and these individuals will introduce regulation that best serves their own self-interest. If regulators acted in accordance with the predictions provided by private interest theory of regulation, what is the likely of the introduction of regulation aimed at reducing the problems associated with climate change, particularly if business corporations opposed such regulations? Stigler, G. J. 1971, The politicisation of accounting, Journal of Accountancy, 146(5), pp. 65-72 Required
a. Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler above. b. Discuss the standards that are inherent in Global Reporting Initiative (GRI). c. Choose a company listed on the ASX and discuss how the company has disclosed Corporate Social Responsible (CSR) issues. Refer to instruction 2 below. d. Evaluate your company performance in relation to GRI standards and comment on Stigler's theory
CASE 1: Sanders cycle company job order costing, Prepare journal entries, with supporting calculations if necessary, to record the following events during December.
Has it decreased or increased over the past few years? What is its percentage to total assets for last two years? Has the percentage decreased, increased, or remained the same? If the ratio percentage has changed what accounts for change?
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Evaluate the manufacturing cost per unit for each product produced in July 2011.
one-half of the $500,000 he had paid to partnership creditors and one-half of $80,000, the reasonable value of Caesar's services during operation of the partnership. Who will prevail and why?
If a product requires 7,000 machine hours, Evaluate manufacturing overhead will be allocated to this product
Evaluate the markup of currently used and evaluate the two new rates, one for class A repairs and another for class B repairs, using the similar markup of x that you determined in part a.
Evaluate the cash balance at the end of the first year for Alpaca Corporation
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