This paper explores the social and economic factors that affect GDP per capita as a gauge of economic development for a sample of forty countries. The whole sample is subjected to regression analysis as GDP per capita being the dependent variable and the rest of the factors being the independent...

In this paper, the author initially determines the reasons of the lack of long term foreign capital investments in Turkey and then touches the application of International Accounting Standards in Turkish Capital Market as Turkey's being a candidate for European Union. Then he shows the...

Interest has been forbidden in Quran-the holy book of Islam whereas Murabaha is a particular kind of sale in Islamic Finance where the seller expressly mentions the cost he has incurred of a commodity to be sold and sells it to another person by adding some profit or mark-up thereon which is...

Purpose: The paper aims to explore the present cheque clearance system in the USA and its possible misuses in the practical sense. Cheque kiting has been a way of creating fictitious cash balances on the balance sheet, which is a fraud. This practice can be prevented by a different accounting...

The article explores the effects of inflation on financial statements. Inflation, even at lower rates affects financial statements. International Accounting Standard 29 “Financial Reporting in Hyperinflationary Economies-IAS 29” imposes some percentage criteria as to the restatement of...

Purpose – The objective of this paper is to show to the public in general and auditors in particular that in the absence of control there is always a risk of fraud. Fraud can be in various forms. Larceny may be the most obvious case of fraud, but fraud may be done in many other ways too....

This paper, explores devaluation as a reason for the lack of long term foreign capital investments in countries such as Turkey. It touches the application of International Accounting Standards in Turkish Capital Market as Turkey's being a candidate for European Union. The detrimental...

Three conditions of fraud arising from fraudulent financial reporting and misappropriations of assets are described in Section 5135.012 of the Canadian Institute of Chartered Accountants Assurance Handbook titled “The Auditor's Responsibility to Consider Fraud and Error.” These three...