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The Journal of Accounting and Economics is a peer-reviewed academic journal focusing on the fields of accounting and economics.The editors-in-chief are J. Core (Massachusetts Institute of Technology), E. deHaan (Stanford University), and W. R. Guay (University of Pennsylvania).
IFRS 9 began as a joint project between IASB and the Financial Accounting Standards Board (FASB), which promulgates accounting standards in the United States. The boards published a joint discussion paper in March 2008 proposing an eventual goal of reporting all financial instruments at fair value, with all changes in fair value reported in net income (FASB) or profit and loss (IASB). [1]
Capital maintenance is a competing objective of financial reporting. [4] Financial accounting is the preparation of financial statements that can be consumed by the public and the relevant stakeholders. Financial information would be useful to users if such qualitative characteristics are present.
International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). [1] They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and ...
Consolidated financial statements are defined as "Financial statements of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent (company) and its subsidiaries are presented as those of a single economic entity", according to International Accounting Standard 27 "Consolidated and separate financial ...
Journal of Business Finance & Accounting: 0306-686X: 0.91 John Wiley & Sons [45] Peter F. Pope, London School of Economics Andrew Stark, Manchester Business School Martin Walker, Manchester Business School [45] Journal of International Financial Management and Accounting: 0954-1314: 0.466 John Wiley & Sons [46] Sidney Gray, University of Sydney
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]
A company can maintain one journal for all transactions, or keep several journals based on similar activity (e.g., sales, cash receipts, revenue, etc.), making transactions easier to summarize and reference later. For every debit journal entry recorded, there must be an equivalent credit journal entry to maintain a balanced accounting equation ...