4 Whilst acknowledging the importance of high quality corporate reporting, the recommendations to improve it are

sometimes questioned on the basis that the marketplace for capital can determine the nature and quality of corporate

reporting. It could be argued that additional accounting and disclosure standards would only distort a market

mechanism that already works well and would add costs to the reporting mechanism, with no apparent benefit. It

could be said that accounting standards create costly, inefficient, and unnecessary regulation. It could be argued that

increased disclosure reduces risks and offers a degree of protection to users. However, increased disclosure has several

costs to the preparer of financial statements.

Required:(a) Explain why accounting standards are needed to help the market mechanism work effectively for the benefit

of preparers and users of corporate reports. (9 marks)

[单选题]Whilst the engine is turning, check to see that no water is leaking into the crankcase, scavenge air belt, or from （）.A . exhaust valvesB . starting valvesC . fuel valvesD . the indicator cock

[单选题]G．overnments attach importance to the Internet because it _______ .A． offers economic potentialsB． can bring foreign fundsC． can soon wipe out world povertyD． connects people all over the world

[试题]Staff Management: the importance of encouraging staff to make suggestions for improvements

[试题](iii) A statement on the importance of confidentiality in the financing of the early stage working capital needsand an explanation of how this conflicts with the duty of transparency in matters of corporategovernance. (6 marks)Professional marks for l

[单选题]In our previous letter，the importance of shipment（）end of November is stressed.A . atB . by theC . byD . near

[单选题]Parents ___much importance to education. They will do their best to give their children that priceless gift.A．attachB．payC．linkD．apply

[单选题]The old companieslose importance and some of them [vanish] altogether.A.dev

[单选题]Not until that day_____ the importance of good manners in a job interview.A

[单选题]Not until that day_____the importance of good manners in a job interview.A.

[单选题]President Xi Jinping highlighted the importance of improvement of ecology a