Empirical Evidence - the Evolution of Consolidated Financial Reportin Essay

Empirical Evidence - the Evolution of Consolidated Financial Reporting Can Be Explained By Contracting Cost Variables - Essay Example At the extreme, some researchers have titled their studies as examining the 'determinants' of economic choices (Hagerman and Zmrjewski, 1979; Lekme and Page, 1992; Aitken and Loftus 1994; Whittred and Zimmer, 1994)" Studies carried out by Whittred n 1987 have in fact mistook to analyze the set of amended rules of the Sydney Stock Exchange which was evidently an optional norm. However regulatory requirements regulatory requirements since 1921 have progressively encouraged the presentation of the consolidated statements. A meagre number of companies have voluntarily presented consolidated statements of their own under the regulatory influence. Statutory requirements were found influential than listing rules of the stock exchange leading a vital role in disseminating knowledge about the techniques of consolidated statements through a seminar, professional literature and public examinations. Whitted's study further highlights the speculative assumptions of data where high levels of debt were assumed to mean there had been incidents of contractual arrangements between lenders and beneficiaries as minimum agency cost. The study albeit failed to explain the use of consolidated statements based on cost variations. Many of the practitioners were not familiar with the techniques of consolidations even when the Institute of Chartered Accounts and the Australian Society of Accountants made their first pronouncements on the subject of consolidation in 1946 and 1956 respectively. The accounting literature hereafter included more discussions about the virtues of consolidated statements as a means of reporting to a range of stakeholders. Nevertheless, changes in regulations were associated with the changes in practices in accounting education. This hypothesis yields an evidence of a mere causal relationship between accounting writers and its regulatory practices. Doubtlessly consolidation evolved in the demand of necessity for monitoring performance in compliance with the contracts between the firms and their suppliers of debt and equity capital aimed at reducing agency cost. The characteristic difference of early consolidators with more subsidiaries than non-consolidators disappeared in 1950 following the introduction of taxation incentives. Institutional requirements were ruled out by the sample selection criteria promoting the growth of holding company form and thus it gradually established the necessities towards the descending towards the extent of political cost. G. Whittred gives us a solid ground of its existence as follow According to Clifford W Smith as described in the Incentives for Unconsolidated Financial Reporting says â€Å" We provide a positive analysis of Firms decision to report the operations of a financial subsidiary on a consolidated versus unconsolidated basis.†Ã‚     

Personal essay for pharm cas Example | Topics and Well Written Essays - 500 words

Personal for pharm cas - Essay Example that my parents are not omniscient healers: the ability of their diagnostic and therapeutic skills to defeat disease is almost totally dependent on the tools at their disposal, and these tools are predominantly drugs. The miracle of medical science itself is undoubtedly founded on the preparation and accurate dispensation of drugs. It is pharmacy which is medical science’s fighting arm. My fascination with pharmacy dates back to this realization and has slowly, but surely, led me to a point in my life at which I am absolutely confident that pharmacy is the career path I want to follow. My choice of pharmacy as a career has been reinforced by my deep admiration for my aunt, who is a renowned pharmacist in Jordan, where I spent the major part of my childhood. Pharmacies in Jordan are run along the lines of traditional community pharmacies, in which the pharmacist plays a major role as counselor and friend to her customers. The pharmacist is urged to independently prescribe drugs for sundry aches and ailments, dispenses advice as well as drugs and strongly influences the customer’s choices. I spent some time assisting my aunt and was deeply impressed by the warmth of her personality, combined with her disciplined approach to the use of drugs. She has become my role model. My personal background has made me aware that impeccable educational qualifications are a prerequisite to any career. My family has also impressed on me the relevance of a work ethic which combines hard work with the efficient organization of time, but still retains some space for compassion. This has made me a dedicated student with a good academic record. At the same time, my love of interpersonal interaction has involved me in the community and student life of my school. I am particularly involved in the student government and tremendously enjoy my role as student instructor. I think that academic success is the result of hard work and also a passionate belief that the subject one has chosen