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explain accounting policy involves politics?
Method used for inventory pricing.
In accounting the consistency concept means that when a method of accounting is adopted it must be used consistently in the future. If the policy for accounting is changed in any way the nature of the change, the effects the change has on items in the financial statement and the reason for making the change must be fully disclosed by the business. If the consistency concept is not applied then disclosure of changes are made at the discretion of the business.
A layman's answer. Policies provides guidance on how something is handled, judged, rated, ranked, executed, etc. Policy provides all concerned with direction on how to proceed. Example: my policy is to answer all questions in a layman's term. Basis amounts to "what is", or "to be", developed in order to comply with policy. For instance; the basis for our nation's policy on ransom is that to allow payment for acts involving hijacking/terrorism has been shown to encourage further activity of this nature. Our policy is to not pay ransom since it might contribute to further hijacking/terrorism acts. In accounting, such an example would be written as such: accounting policy allows for us of a two-year verses five-year depreciation schedule on the purchase of capital equipment. The accounting basis for this policy is that it would 1) decrease tax burden in the short term 2) retaining more company funds for use in capital improvements while 3) encouraging expenditure to expand the economy 4) providing job growth to 5) stimulate the economy.
Accounting policy manual makes sure that all business transactions are recorded in same way and all related transactions are provided in same code of account and accuracy of transactions is also assured.
checks and balances
the iron triangle
the iron triangle
Public opinion is views represented by the general public and policy making is adopted by the government. SO - public opinion can impact policy making in a positive or negative way, whether it is in your favor or not in your favor.
$$$ = implementation
diffrent btw decition making and policy making
explain in details the relationships between economics facts, theory and policy.
explain accounting policy involves politics?
The will has no relationship to the insurance policy. The Policy is a contract between the insurance company and the insured and does not become a part of the estate.
A policy is more general. It is a guide line that you go by all the time. A decision would apply to a specific case.
The relationship between NCS and CAPS is that they are both part of the National Curriculum and Assessment Policy Statements. They are both official policies for learning in South African schools.
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