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Accounting Police: Do
They Exist? by: John Day Who created accounting principles? Who sets and revises accounting standards? What if you don’t follow all the rules, do you go to jail? Is there an accounting police force that investigates and arrests violators? It would seem that there must be some regulatory force to make sure that providers of financial statements conform to the rules. There is, up to a point, and here is how it works: Mainly, it’s all voluntary and it works pretty well. First, double-entry accounting originated in Italy in the 1400’s, so its been around awhile. Accounting principles have evolved over the years just as have accounting standards. The reason why the system works is that the business community could not function if there was not commonality and consistency in financial statement reporting. It would be chaos, much like if there were no driving rules of the road. Therefore, in the United States, a body of experts known as the Financial Accounting Standards Board (FASB pronounced Fasbee) was established in 1973, which superseded another board called the Accounting Principles Board (APB). The FASB members go through a lengthy process of analyzing and reviewing problems in the accounting field that are brought to them. After much thought, they will make a pronouncement as to what they think the new or revised way of approaching the treatment of an accounting issue should be. They are a non-governmental organization that has private financing. A big supporter of FASB is the American Institute of Certified Public Accountants (AICPA). Many Certified Public Accountants (CPAs) belong to this prestigious organization and are obligated to abide by its guidelines and principles of behavior. Other countries no doubt have similar organizations that require high levels of accounting professional conduct. FASB established an accounting code called “Generally Accepted Accounting Principles” or (GAAP). The assumption is that if a business financial statement is prepared according to GAAP, then the user of that financial statement could rely on or trust the information more readily than if not prepared according to GAAP. Those businesses that deviate from GAAP, and many smaller businesses do, cannot say that their statements are prepared under GAAP; in fact, they should inform the reader that they are not. However, let the buyer beware. One governmental body that has a policing function is the Securities Exchange Commission (SEC). It is primarily concerned with public companies because their job is to protect investors from unscrupulous acts. Recently, the SEC has gotten into the act of establishing accounting standards. It has its hands full today. Since most businesses use their financial statements to prepare their required income tax returns, the Internal Revenue Service (IRS) may audit those tax returns and review the financial statements upon which the tax returns are based. Not following the rules can get you in trouble with this governmental body. You can see that in many ways compliance to the principles and standards is a mixture of voluntary and regulatory behavior. Currently, there is an effort underway to set international accounting standards due to the inexorable globalization process. This is a massive undertaking that will take years, but it is obviously necessary and inevitable. |
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YouTube :: Tag // accounting
Videos tagged with accounting
Access Fun Day
by rss@youtube.com (witwill)
7 Sep 2008 at 9:28pm
Family support team in action
Author: witwill
Keywords: Access Accounting; animoto; Redmon:Beech
Added: September 7, 2008
Outsource Weekly-How To Outsource The Right Way and ...
by rss@youtube.com (WasabBean)
7 Sep 2008 at 5:06pm
http://tinyurl.com/nocost The fastest way of growing any business is to outsource the systems and processes. And it's not just what you do, it's how you do it ... With Outsource Weekly, you'll do very well and expand your business fast! :) http://tinyurl.com/nocost accounting outsourcing affiliate program affiliate program earn money affiliate program money application development outsourcing article marketing benefits of outsourcing benefits outsourcing bpo business earn money online opportunity business income internet business investment business making money online business money business outsourcing business process outsourcing business sales business writing call center outsourcing call center outsourcing services contract programming corey rudl internet marketing center data entry data entry jobs data entry outsource data entry outsourcing data entry services development outsourcing earn extra income earn extra money earn income earn making money online earn money easily earn money from internet earn money now earn money online earn money quick earn money quickly earning money easy ways to earn money freelancer jobs freelancer programmers freelancers freelancers programmers ghostwriter jobs graphic design outsource help desk outsourcing how to earn extra income how to make money online hr outsourcing human resource outsourcing human resources outsourcing income opportunity india outsourcing internet business internet jobs internet marketing internet marketing job internet marketing jobs internet marketing outsourcing internet marketing tips internet money it outsourcing it services outsourcing jobs money knowledge process outsourcing make money make money online make money online poker making money making money easy making money online making money online business opportunity making money online easy making money program making money with affiliate programs marketing outsourcing medical transcription ...
Author: WasabBean
Keywords: affiliate business course grow growing guide how make money online outsource outsourcing part program time video weekly
Added: September 7, 2008
The Family Profit Centre
by rss@youtube.com (myhairstands)
7 Sep 2008 at 3:39pm
for my AA202 presentation
Author: myhairstands
Keywords: profit centre ntu nbs accounting
Added: September 7, 2008
Wrapping It Up
by rss@youtube.com (lseexternal)
7 Sep 2008 at 2:25pm
Putting all the documents together
Author: lseexternal
Keywords: university of london external lse school ecnomics accounting
Added: September 7, 2008
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by rss@youtube.com (cafedududu)
7 Sep 2008 at 9:43am
08?9?1?
Author: cafedududu
Keywords: ???? ?? ??? account accounting ??? ??? ??? ??? ??? Hong Kong democracy Legislative Council LegCo Legco 2008 election
Added: September 7, 2008
Percentage Change
by rss@youtube.com (PixelMuffin)
7 Sep 2008 at 7:08am
"new minus old over old times 100!"
Author: PixelMuffin
Keywords: accounting percentage change mr utting middleton grange
Added: September 6, 2008
cBn 10 ComAc BinUs cOmpuTeriZed AcCouNtinG 2008
by rss@youtube.com (451234l)
7 Sep 2008 at 2:35am
Yel-Yelnya Anak2 KA CBN 10 Computerized Accounting Bina Nusantara University Tahun 2008
Author: 451234l
Keywords: cbn 10 bina nusantara university 2008
Added: September 6, 2008
Managerial Accounting 12e
by rss@youtube.com (IxIOrtaIxI)
7 Sep 2008 at 2:14am
Taking a look at the books condition
Author: IxIOrtaIxI
Keywords: Orta Ebay College Textbook Managerial Accounting
Added: September 6, 2008
No special software for the customer
by rss@youtube.com (2lakea)
7 Sep 2008 at 12:43am
. http://www.globalpreneurs.com/markluton . Email: luton.mark@gmail.com ... Your customer need not have ant special software yet he/she can see and hear you. How good is that? ... academic software accounting software activesync Add all 47 » adobe software agile software anti virus software antivirus software application application software astronomy software australian software best free software bluetooth software browser software business business software buy and download software buy download software buy software cheap software chess software clock software compression software computer software cool software cracked software create software custom software design desktop development diagram software dictionary software directory software discount software downlaod download Download all keywords: text, .csv (for excel), .csv download software downloadable software downloading downloading software downloads ebook software educational software encryption software essential software forum software free free backup software free cad software free data recovery software free download free downloads free essential software free fax software free firewall software free ftp software free games free ocr software free photo editing software free photo software free pocket pc software free project management software free software free software download free software downloads free softwares free spyware software free video editing software free web design software freeware freeware software freewareppc games games software gps gps software graph software handheld imate software keyboard software Keywords related to term(s) entered - sorted by relevance Help landscape software latest software lifecycle macintosh software make software management media player software media software methodologies methodology metrics microsoft software mobile mobile software mp4 software music software nero burning software newsletter software Not enough data oem software online software overclocking software palm software payroll software pc software pda pda software pocket pocket dictate pocket pc pocket pc software pocketpc podcast software ppc ppc software presentation software printing software programs project management software project software publisher software rar software remote control software remote desktop software resell risk management software sdlc shareware software small business software smartphone smartphone software social software software software applications software architecture software definition software design software design and development software developer software developers software development software development life cycle software development lifecycle software downloads software engineering software evaluation software for pocket pc software license software management software packages software prices software programs software quality software requirements software solutions software store software testing softwares sofware spb software spss software spyware spyware software student software symbian software sync software system software systems software tools top software toshiba software trial software tucows typing software uninstall software unzip software utilities utility software v3 software vista compatible software voip software web authoring software website software wifi software win ce wince windows ce windows mobile windows mobile 2003 windows mobile 5 software windows mobile software windows software winphone xp software zip software
Author: 2lakea
Keywords: software freeware free download no vista xp web internet customer traffic
Added: September 6, 2008
Accounting Lecture 1.1
by rss@youtube.com (AccountingTutor)
6 Sep 2008 at 11:52pm
Introductory Accounting/Bookkeeping Lecture. First in a series.
Author: AccountingTutor
Keywords: accounting lesson tutor bookkeeping debit credit balance sheet income statement asset liability owner's equity capital
Added: September 6, 2008
Dr Rick Strassman DMT The Spirit Molecule 11
by rss@youtube.com (darraghf)
6 Sep 2008 at 6:13pm
Rick Strassman was permitted to embark on the first human research with psychedelic, hallucinogenic, or entheogenic substances in the 1990s in the United States after 20 years' intermission in the field. In the intermission period it has only been legally possible to research on animals. Strassman's studies investigated the effects of N,N-dimethyltryptamine (DMT), a powerful entheogen, or psychedelic, that he theorizes is a substance produced by the human brain in the pineal gland (without any conclusive proof), and an active ingredient in ayahuasca. Ayahuasca is any of the various psychoactive infusions or decoctions prepared from the Banisteriopsis spp. vine, native to the Amazon Rainforest (which is also called ayahuasca). The resulting drinks are pharmacologically complex and used for shamanic, folk-medicinal, and religious purposes. Occidental ethno-biologists have noted a variety of 200-300 plants used in the different brews made by the Ayahuasceras. It is an open question whether Ayahuasca should be noted as one particular shamanic medicinal brew, or that it should be noted as an entire medicinal tradition alongside, for instance, Ayurveda or Tibetan Medicine. During the project's five years, he administered approximately 400 doses of DMT to 60 human volunteers. This research took place at the University of New Mexico's School of Medicine in Albuquerque, New Mexico where he was tenured Associate Professor of Psychiatry. Strassman has conjectured that when a person is approaching death, the pineal gland releases DMT, accounting for much of the imagery reported by survivors of near-death experiences. Strassan wrote about the research program in his book DMT: The Sprit Molecule. A documentary movie based on this book is currently in production.
Author: darraghf
Keywords: Rick Strassman DMT The Spirit Molecule psychedelic ayahuasca hallucinogenic entheogenic Consciousness
Added: September 6, 2008
Dr Rick Strassman DMT The Spirit Molecule 9
by rss@youtube.com (darraghf)
6 Sep 2008 at 5:59pm
Rick Strassman was permitted to embark on the first human research with psychedelic, hallucinogenic, or entheogenic substances in the 1990s in the United States after 20 years' intermission in the field. In the intermission period it has only been legally possible to research on animals. Strassman's studies investigated the effects of N,N-dimethyltryptamine (DMT), a powerful entheogen, or psychedelic, that he theorizes is a substance produced by the human brain in the pineal gland (without any conclusive proof), and an active ingredient in ayahuasca. Ayahuasca is any of the various psychoactive infusions or decoctions prepared from the Banisteriopsis spp. vine, native to the Amazon Rainforest (which is also called ayahuasca). The resulting drinks are pharmacologically complex and used for shamanic, folk-medicinal, and religious purposes. Occidental ethno-biologists have noted a variety of 200-300 plants used in the different brews made by the Ayahuasceras. It is an open question whether Ayahuasca should be noted as one particular shamanic medicinal brew, or that it should be noted as an entire medicinal tradition alongside, for instance, Ayurveda or Tibetan Medicine. During the project's five years, he administered approximately 400 doses of DMT to 60 human volunteers. This research took place at the University of New Mexico's School of Medicine in Albuquerque, New Mexico where he was tenured Associate Professor of Psychiatry. Strassman has conjectured that when a person is approaching death, the pineal gland releases DMT, accounting for much of the imagery reported by survivors of near-death experiences. Strassan wrote about the research program in his book DMT: The Sprit Molecule. A documentary movie based on this book is currently in production.
Author: darraghf
Keywords: Rick Strassman DMT The Spirit Molecule psychedelic ayahuasca hallucinogenic entheogenic Consciousness
Added: September 6, 2008
Lahkesis oddity
by rss@youtube.com (addaminsain)
6 Sep 2008 at 5:08pm
WTF? Even accounting for misses I landed well over 100 bow shots. If I recall correctly Lahkesis has 400HP. Why didn't she die? Note the use of ground attacks in mid air.LOL
Author: addaminsain
Keywords: Glitch God War Kratos addaminsain
Added: September 6, 2008
DDr Rick Strassman DMT The Spirit Molecule 3
by rss@youtube.com (darraghf)
6 Sep 2008 at 4:19pm
Rick Strassman was permitted to embark on the first human research with psychedelic, hallucinogenic, or entheogenic substances in the 1990s in the United States after 20 years' intermission in the field. In the intermission period it has only been legally possible to research on animals. Strassman's studies investigated the effects of N,N-dimethyltryptamine (DMT), a powerful entheogen, or psychedelic, that he theorizes is a substance produced by the human brain in the pineal gland (without any conclusive proof), and an active ingredient in ayahuasca. Ayahuasca is any of the various psychoactive infusions or decoctions prepared from the Banisteriopsis spp. vine, native to the Amazon Rainforest (which is also called ayahuasca). The resulting drinks are pharmacologically complex and used for shamanic, folk-medicinal, and religious purposes. Occidental ethno-biologists have noted a variety of 200-300 plants used in the different brews made by the Ayahuasceras. It is an open question whether Ayahuasca should be noted as one particular shamanic medicinal brew, or that it should be noted as an entire medicinal tradition alongside, for instance, Ayurveda or Tibetan Medicine. During the project's five years, he administered approximately 400 doses of DMT to 60 human volunteers. This research took place at the University of New Mexico's School of Medicine in Albuquerque, New Mexico where he was tenured Associate Professor of Psychiatry. Strassman has conjectured that when a person is approaching death, the pineal gland releases DMT, accounting for much of the imagery reported by survivors of near-death experiences. Strassan wrote about the research program in his book DMT: The Sprit Molecule. A documentary movie based on this book is currently in production.
Author: darraghf
Keywords: Rick Strassman DMT The Spirit Molecule psychedelic ayahuasca hallucinogenic entheogenic Consciousness
Added: September 6, 2008
Accounting Transactions
by rss@youtube.com (dantesj46)
5 Sep 2008 at 7:20am
Working with debits and credits by analyzing some accounting transactions.
Author: dantesj46
Keywords: accounting equation debits and credits transactions
Added: September 4, 2008
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