TAILIEUCHUNG - Accounting Theory By Scott_9

Tham khảo tài liệu 'accounting theory by scott_9', tài chính - ngân hàng, kế toán - kiểm toán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 270 Chapter 8 arkets to raise the nhey believed that d. The validity of Most ofthem knew they would have to go to the financial mt funds needed for the exploration contemplated by the NEP. 7 the underwriters would want toprice their securities at a less favourable rate if they reported a lower net income because of the CĨCẨ slant this view is controversial but there is no question that it was widely believed. Certainly something was bothering the oil company executives to the point where they brought pressure to bear on the federal government to remedy the situation. It seems that efficient securities market theory is not able to explain these reactions. The federal government shared the oil companies concerns fearing that lower oil company reported profits would hamper attainment of the goals of the NEP. It brought pressure to bear on the CICA to amend or waive the requirements of Section 3800 even to the point of threatening legi failed to act. Apparently the federal government did not subscribe to efficient securities market theory either. In the face of these pressures the CICA held its ground. Ultimately the government decided not to legislate. The CICA had the support of other powerful constituencies such as the Ontario Securities Commission. Also it may have felt that direct intervention would compromise the integrity of the standard setting process in Canada. In this particular instance the CICA won. Regardless of the outcome however the PIP grant controversy has enlightened US about eco It certainly demonstrates that accounting standards cannot bl that their economic consequences can extend well into the p islation if the CICA momic consequences. C set in a vacuum and olitical system. SUMMARY Two aspects of the accounting for government assistance First we have another example of our by-now-familiar argument that the matching of costs and revenues concept usually allows different ways to account for the same thing. Uniform policies to account for .

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