It is often stressed that the process of IASC standard setting and its output are very much influenced by the Anglo-American accounting approach. This is considered to be one of the major reasons for the obvious reluctance of countries to adopt the international accounting standards. The...

The most basic concept to measure the income and performance of an economic entity or even a whole economy is the value added created by its economic activities. To create value is the central focus of any economic action and transaction. Therefore the concept of value added has been discussed...