Company financial accounting and reporting is regulated by a variety Essay

Company financial accounting and reporting is regulated by a variety of sources - Essay Example All the listed companies were asked to follow these accounting standards for maintaining their accounting transaction and developing financial reports. These accounting standards were introduced to enhance credibility and reliability of the financial statement developed by the listed companies of a nation. These accounting standards assisted the accountants and auditors to resolve different controversies related to different accounting practices. Even the managers consider these accounting policies while developing various strategies and policies to be followed by the company. Like other developed nation, the accounting standards were formulated in UK in early 1980s. People identified the necessity of a well structured accounting standard that assures â€Å"relevance, reliability, comparability and understand-ability† in the financial report that is developed by the listed companies (Kirk, 2005, p.9). In UK, the accounting standards are popularly known as Financial Reporting Standards (FRS). These FRS were developed by Accounting Standards Boards (ASB) and all the listed companies are required to adhere to these standards so that a true and fair picture of the companies’ financial condition can be represented. Prior to 1990, the accounting standards were developed by Accounting Standards Committee (ASC) which was later replaced with Accounting Standards Boards (ASB). In the first meeting of ASB, it formally accepted all the accounting standards prevailing in UK GAAP. With time, this board introduced few new standards and modified many existing standards. In UK, the four main constituents responsible for development and maintenance of accounting standards are Financial Reporting council (FRC), The Accounting Standards Board (ASB), Urgent Issues Task Force (UITF) and The Financial Reporting Review Panel (FRRP). FRC is

Analysis of the book Funny in Farsi by Firoozeh Dumas Essay

Analysis of the book Funny in Farsi by Firoozeh Dumas - Essay Example Dumas, through the book, has shown that the way people perceive things and act and react to incidents regarding different cultures and values, holds the key to adjustment in a foreign land. The book is a collection of author’s experiences from her childhood to her adulthood in Southern California and is written in a language which is able to handle serious issues with simplicity and in a highly funny manner. The book is a collection of anecdotes of the author’s growing years in Southern California in the 70s. She had come here in 1972 with her family, initially comprising of her parents and brothers and who were later joined by other family members like uncle, aunt and cousins. Despite his education in America, her father was not much familiar with his host country and neither he nor other members of his family were well versed in English. But the language was not an insurmountable barrier for Dumas family because they tackled such issues with humor and really enjoyed the learning process which taught them how to overcome cross cultural issues and live in a multicultural society with harmony and peace. The book has been divided into 12 chapters where the author has given account of her different experiences and the titles of her experiences are succinct and give a hint of the experience in that area. Leffingwell Elementary School, Hot Dogs and Wild Geese, Save Me Mickey, Swoosh Swoosh, etc. prepare the readers for her unique experiences which are recounted with funny bylines and wit that leaves a smile on their faces. Indeed Dumas has shown that laughing at oneself is not only healthy but can turn out to be the best tool to conquer the manmade barriers like language, race, religion and other cross cultural issues. ‘It was the Promised Land. For me, it was where I could buy more outfits for Barbie’, indeed, such expressions are designed to send the message that one needs to take the serious issues with a little blasà ©