US decided that convergence with IFRS would be a positive for the US economy, and began the project.
Fundamental Differences
Yet, there were fundamental differences that made convergence more difficult than was perhaps originally anticipated. Fundamentally, the two systems are different in their cultural foundations. Ding, Jeanjean & Stolowy (2005) note that GAAP is a set of principles, while IFRS is a set of standards. An example would be a situation where in one there was a prescribed rule for handling, but in the other there was merely guidance, the latter being much more open-ended. Cultural differences are theorized to account for… Continue Reading...
should have been left in place. Prior to Glass-Steagall, the US economy was subject to a multitude of economic shocks. Under conditions of laissez-faire management, the economy went through a number of boom-bust cycles. Dating as far back as the Dutch tulip boom in the 17th century, to booms associated with the opening of new markets (i.e. South Seas), finding new deposits of gold, to railroads, economic activity followed boom-bust cycles (Bordo, 2003). Marx predicted that these cycles would continue if capitalism were to be left unfettered.
Following the latest bust, the stock market crash of 1929, the Glass-Steagall Act… Continue Reading...
is a much higher growth rate than the retail business or US economy as a whole, both of which are more in the maturity phase. This expansion stage is why Target is aiming to enhance its digital business, because this is one of the areas where there is much stronger growth potential than exists in the rest of its business.
The expansion stage is characterized as a situation where the business is firmly established, which is the case for e-commerce in general, but firms in the industry seek to capitalize on its stability by broadening their horizons. For Target, that is… Continue Reading...
forces, and the US economy. His job plan aims at growth-friendly tax reforms, including reduced corporate taxes. Hence, overall, his first day at office showed the 45th President getting to work immediately.
Illegal immigration was the main theme of Trump's campaign and, unsurprisingly, several initial promises he made after… Continue Reading...
a currency crisis, but was far from being able to have a stable and prosperous economy.
2.
Brazil has a problem with its economy. This is clear. Even with different strategies current account and trade deficits persists. The main goal for Brazil’s government is to overcome two sets of issues while also increasing exports (major priority). The first main problem was insufficient infrastructure and high tax burden known as ‘Brazilian cost’. The second problem related to the major priority of exportation. An assortment of barriers exist that keep world markets from purchasing Brazilian products. To remove these barriers there was an attempt to reinforce… Continue Reading...
business owners supplied their customers with the items they needed, it was a closed and prosperous economy. All the money spent in that area was reinvested.
GDP refers to Gross Domestic Product and is a measure of citizens' well-being. Although this applies to the national population, it can be placed in a local population. The GDP of the people in Greenwood Avenue in Tulsa was high. Many of the people in the town were at least middle class, with a decent segment reaching upper class level. Doctors and business owners were well-off and lived comfortably amidst economic turmoil in other areas of Tulsa and in… Continue Reading...
