Harmonization of Accounting in Accounting Context - amazonia.fiocruz.br

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In depth and Practical guides. Accounting implications of the effects of coronavirus - PwC In depth. For UK users, we also consider the impact on dividends and other distributions. Refer here for frequently asked questions related to the accounting implications of the effects of COVID Measures taken to contain the virus have affected economic activity, which in turn have implications for financial reporting. Measures to prevent transmission of the virus include limiting the movement of people, restricting flights and other travel, temporarily closing businesses and schools, and cancelling events. This will have an immediate impact on businesses such as tourism, transport, retail and entertainment. It will also begin to affect supply chains and the production of goods throughout the world, and lower economic activity is likely to result in reduced demand for many goods and services. Financial services entities such as banks that lend to affected entities, insurers that provide protection to affected individuals and businesses, and funds or other investors that invest in affected entities are also likely to be affected.

Harmonization of Accounting in Accounting Context - speaking

Accounting or accountancy is the measurement , processing, and communication of financial and non financial information about economic entities [1] [2] such as businesses and corporations. Accounting, which has been called the "language of business", [3] measures the results of an organization's economic activities and conveys this information to a variety of users, including investors , creditors , management , and regulators. The terms "accounting" and " financial reporting " are often used as synonyms. Accounting can be divided into several fields including financial accounting , management accounting , external auditing , tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements , to the external users of the information, such as investors , regulators and suppliers ; [7] and management accounting focuses on the measurement, analysis and reporting of information for internal use by management. Even though accounting has existed in various forms and levels of sophistication throughout many human societies, and the double-entry accounting system in use today was developed in medieval Europe, particularly in Venice , and is usually attributed to the Italian mathematician and Franciscan friar Luca Pacioli. Financial statements are usually audited by accounting firms , [10] and are prepared in accordance with generally accepted accounting principles GAAP. Accounting is thousands of years old and can be traced to ancient civilizations. Double-entry bookkeeping was pioneered in the Jewish community of the early-medieval Middle East [18] [19] and was further refined in medieval Europe. The first published work on a double-entry bookkeeping system was the Summa de arithmetica , published in Italy in by Luca Pacioli the "Father of Accounting". Harmonization of Accounting in Accounting Context

We also find that, absent beauty-contest features, mandatory adoption of more harmonized accounting standards can be unnecessary; however, such mandate is warranted when beauty-contest features are strong as firms, when left on their own, would adopt even less harmonized standards. Taken together, our results both provide a justification for and identify an unintended consequence of the recent mandates towards more harmonized accounting standards. Events Home Events.

Chao Tang Wednesday, 25 November a. Xiaojie Mao 20 Nov ]