Futility of International Environmental Governance The increased frequency of irregular climatic events, among which are violent hurricanes, whirling tornados and record-breaking temperatures has resulted in an amplified concern in the changing climate. “Certainly, this is no coincidence; extreme circumstances often serve to galvanize public attention.” These rising trends of environmental awareness have superseded individual societies. Resultantly, there have been countless efforts of working
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China and the Kyoto Protocols China did indeed sign the Kyoto Protocols on May 29th in 1998. It then ratified the protocol in its government on August 30th in 2002. On February 16th of 2005, China entered into the force. In 2005, China was the world’s number one emitter of Greenhouse Gases, clocking in at seventeen percent of all the world’s emissions, although, per capita, out of the top ten positions, they are second to last. (China) During their five years as a member, China has only reported
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1. Introduction: The 2015 United Nations Climate Change Conference, COP 21 or CMP 11 was held in Paris, France, from 30 November to 12 December 2015. It was the 21st yearly session of the Conference of the Parties to the 1992 United Nations Framework Convention on Climate Change (UNFCCC) and the 11th session of the Meeting of the Parties to the 1997 Kyoto Protocol. The conference reached its objective, to for the first time achieve a global agreement on reduction of greenhouse emission in the
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Warren McGregor has coauthored a paper on the conceptual framework arguing that the conceptual framework is the cornerstone of high quality financial reporting and claiming that the new framework should be 'aspirational'. The paper offers an overview of the history of frameworks from standard-setting before the advent of frameworks to the present state of play in the IASB's project on the conceptual framework, lists the areas where the current framework is incomplete or needs revisions and contains
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In a broad sense a conceptual framework can be seen as an attempt to define the nature and purpose of accounting. A conceptual framework must consider the theoretical and conceptual issues surrounding financial reporting and form a coherent and consistent foundation that will underpin the development of accounting standards. Conceptual frameworks can apply to many disciplines, but when specifically related to financial reporting, a conceptual framework can be seen as a statement of generally
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Accounting regulation The Learning Objectives for this lecture: Regulatory framework Role of a conceptual framework Current state of play of conceptual framework for international standards Different approaches to accounting regulation •Free-market approach EMH Agency theory •Regulatory approach market mechanisms will not be able to achieve a socially optimal equilibrium price for accounting information Theory of efficient markets • The forces of supply and demand influence market
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Developing Conceptual Framework Is An Impossible Possibility Accounting Essay Accounting is playing an important role in nowadays society. It provides financial information to the user to make business decision. However, accountants have to follow accounting standards when they are providing the information. We may question what the principle of those standards is. Financial accounting theory was created as the principle in making standards, and conceptual framework for accounting built up. This
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users. The development of Conceptual Framework is a basic requirement for the changes of accounting standards. With the international convergence of financial framework, a more developed common framework is required to provide a basis for the IASB and the FASB to develop high quality common standards, to eliminate differences between the two sets of standards and to seek to replace weaker standards with stronger standards; Therefore the development of conceptual framework project is a basic need for
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FRAMEWORK FRAMEWORK Conceptual framework: coherent set of hypothetical, conceptual and pragmatic principles forming the general framework of reference for field of inquiry. (Hendriksen, 1970). Conceptual framework: * Consider as normative theories because it provide prescription. * Can be descriptive, prescriptive or mixture of both: * Descriptive: Attempt to develop a set of interrelated concept which server as codify and explain financial reporting practices * Rationale
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ACC307 – Accounting Theory Assignment Name: Chun Ho Hui Student ID: na20150418 Case Study 1 Questions 1. Explain why principles-based standards require a conceptual framework. A: Conceptual framework can be defined as “an attempt to define the nature and purpose of accounting” (Team, 2015). Conceptual framework is essential for principle-based standards because it lays out a fundamental structure for principles-based standards. Setting the standard on and relate to an established body
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