The dynamics shaping an organisations Financial reporting and Essay

The dynamics shaping an organisations Financial reporting and accounting procedures - Essay Example Previous research asserts that IAS, in contrast to domestic accounting standards, restricts and confines managerial discretion as far as the choice of accounting methods is concerned and necessitates a higher level of disclosure (Ashbaugh & Pincus 2001). In harmony with the idea that higher quality accounting standards pave the way for enhanced firm transparency, it was further affirmed that the adoption of IAS leads to lower analyst forecast error. In like manner, the act of having third parties to audit a firm's financial reports can improve the quality of the financial information reported by management (Dopuch & Simunic 1982; Watts & Zimmerman 1986). The significance and merit of an audit derives from users' expectations that auditors will spot, distinguish, correct and reveal relevant lapses or misstatements in the financial reports (DeAngelo 1981; Watts and Zimmerman 1986). To the extent that external auditors probe information in the financial statements to autonomous and impa rtial analysis, such external audit increases and enhances the consistency and integrity of financial statements. Company Overview Under the old Corporation Law of the Philippines, Act 1459, the Philippine Long Distance Telephone Company (PLDT) was incorporated on November 28, 1928, subsequent to the agreement of partnership of four telephone companies under common ownership by American entities. In 1967, effective control of PLDT was sold by General Telephone and Electronics Corporation (a major shareholder since PLDT's incorporation) to a group of Filipino businessmen. On March 24, 2000, NTT Communications Corporation, through NTTC-UK, became PLDT's strategic partner with roughly 15% economic and voting interest in the issued common capital stock of PLDT. Concurrent with NTT Communications Corporation's investment in PLDT, it acquired 100% of Smart Communications, Inc. PLDT's charter, like those of all other Philippine corporations, was initially limited to a period of 50 years but has since been extended twice for 25 years each, the last extension being for an additional 25-year period to 2028. Under its amen ded charter (Republic Act No. 7082), which became effective on August 24, 1991, PLDT is authorized to provide virtually every type of telecommunications service, both within the Philippines and between the Philippines and other countries. The Philippines' biggest and an extremely expanded telecommunications company, its business is categorized under three principal domains: Wireless, Fixed Line, and Information and Communications Technology. Philippine Accounting Practices - Brief Historical Background The Accountancy Act 1967, which substituted the Accountancy Act 1923, directed the standardisation of accounting education, set and specified the examination process for CPA registration, and synchronised the practice of accountancy. The Act permitted

Student evaluation form Essay Example | Topics and Well Written Essays - 250 words

Student evaluation form - Essay Example Specific examples of such acts of professional behavior can be given in regards to how the student keep data and information confidential and monitors patients to ensure that patients stick precisely to prescription even if patients begin to record substantial degrees of recovery. The student shows positive inter-personal relationship with patients in terms of attending to their needs in the consulting room and in the office. Such inter-personal relationship is exhibited through the patience with which the trainee has in listening to the problems of patients and the patience taken to give out reasons and explanations as to why patients experience certain conditions. There however exists some little amount of limitation when it comes to rapport with staff. Specifically, the trainee often wants to work independently and is therefore not very comfortable with team work. As far as motivation is concerned, it can be said that the student has a very high level of intrinsic motivation that urges him to give off his best at work even when not asked to attend to certain tasks. This motivation is translated into regularity and punctuality to work (Ameyaw,