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Volume :15 Issue : 59 1989      Add To Cart                                                                    Download

ACCOUNTING FOR INVESTMENT IN SECURITIES ACCORDING TO ACCOUNTING STANDARD NO. 2 IN KUWAIT: AN ANALYTICAL AND COMPARATIVE STUDY

Auther : By: Mohammed Ahmed El-Azma and Hessa Mohammad Al-Bahar

 
            The objective of this research is to present an analysis of the rules set-forth by the accounting standard No. 2 in Kuwait (Accounting Standards Technical Committee, Kuwait, 1987) for accounting and disclosure requirements with respect to investments in securities.

           This paper evaluates the position taken in the accounting standard No. 2 in Kuwait in favoring certain alternative measurement and disclosure rules in the light of available evidence from accounting theory and practice.  The paper presents an analysis of these rules, using flow charts and numerical examples and comparing these rules with those stated by the Financial Accounting Standards Board in the U.S.A. (Fasb, SFAS No. 12) and the International Accounting Standard No. 25 issued by the International Accounting Standards Committee.

           The paper is concluded by summarizing the similarities and differences in treatments, among the three accounting standards and by stressing the major points of strength and weakness in the Kuwaiti accounting standard in terms of relevance to Kuwait.

 

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