If someone is acting in the public interest, they are making decisions and acting in a way that benefits the community as a whole whether or not it benefits them personally. In a perfect world, all elected officials would act in this manner.
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Using simple interest is easier for people to understand. Customers will be able to manage their payments if a business uses simple interest.
Public interest theory of accounting is concerned with achieving publicly desired results which, if left to the market, would not be obtained. The main galvanizer of Public Interest theory is to respond to the demands from the general public in regards to correcting market inefficiencies (i.e. accounting inconsistencies between firms). However, it is difficult to meet demands from all people because competition between demanders is not formally acknowledged by the regulator. what is private interest theory then?
I'm not trying to be difficult, but I don't understand how you HAVE mortgage interest if you rent. You carry a mortgage on your rented home?
The difference is that rates charged by banks to the public have an additional rate added to the prime rate based on creditworthiness and rating. Poor credit equals a higher interest rate and vice versa.
What do you understand by acting in the public interest
If someone is acting in the public interest, they are making decisions and acting in a way that benefits the community as a whole whether or not it benefits them personally. In a perfect world, all elected officials would act in this manner.
To act in public interest is to do that which is to the benefit of the public.
The meaning for acting on public interest for an accountant refers to the dedication to serving the public welfare. This is through objective analysis of the public policy.
cases filed by individuals on matters of public interest
Her interest included, acting, & dancing.
The Public Interest was created in 1965.
Public interest groups do advocate for what they consider to be the public good.
FEDECOR is a public interest group
Commitment to public interest is when you care about your community. Many politicians talk about being committed to public interest.
The League of Women Voters is a nonpartisan political organization that encourages informed and active participation in government. They do not support or oppose candidates or political parties, but work to educate voters on important issues and promote a participatory democracy.
The role of student or any other civic minded individuals would be to act as a check and balance on public or semi public institutions that they are maintaining adequate 'good governance'. Good Governance would best be described as acting in the interest of the entities that they are entrusted to manage/ look after. So a student would be best placed to check view and assess whether these individuals are acting in their personal self interest or in the interest of the bodies that they are purporting to supervise.