Abstract
How, by their nature, the humans cannot have perfect knowledge, the only absolute thing is relativity, this being present in all their actions. In accounting, given its subject matter, it can talk of the relativity of the values that characterize the events in the life of an organization, this being caused by a wide variety of factors. In a previous article (Enachi, 2012) was identified a particular paradigm with visible effects in accounting practice, more precisely, it was talked about the transition from instrumentalism to realism in accounting. This paper supports the previous assertions and after explaining the accounting implications of the two fundamentally different approaches tries to provide solutions for bringing accounting closer to reality. A literature review is conducted to identify the limits that accounting presents in its attempt to capture the truth and the factors responsible for these limits. The main conclusion is that the quality of the professional judgments exercised in creating and implementing a system for accounting representation of reality, although partially controlled, is essential in increasing the reliability of the information provided by accounting.
Highlights
Previous research acceded that there are myriad of definitions and usage of the term innovation (Jain, 2010)
Of appendix below and according to constant returns to scale (CRS) results, manufacture of laminboard, particle board and other panels and board indicated the highest percentage of firms (47.27%) that are fully efficient followed by veneer sheets and plywood (29.41%), wooden and cane containers (26.39%), builders' carpentry and joinery (9.47%), sawmilling and planing of wood (6.27%), and wooden and cane furniture (6.12%), respectively
According to VRS results, the analysis shows that manufacture of laminboard, particle board and other panels and board indicated the highest percentage of firms (60%) that are fully efficient which is the firms have efficient operation of the firm itself followed by veneer sheets and plywood (49.58%), wooden and cane containers (43.06%), builders' carpentry and joinery (30.04%), sawmilling and planing of wood (10.98%), and wooden and cane furniture (17.93%), respectively
Summary
Previous research acceded that there are myriad of definitions and usage of the term innovation (Jain, 2010). During the period of 1996 to 2005, the trade and economic policy undertook progressive liberalization to achieve the long-term objectives of freer and open trade as well as strengthening the domestic capacity to participate in an increasingly open trading environment This export-led growth is vital in the present transition for Malaysia’s economy to transform into the high-tech and capital-intensive industries as well as manufacturing related services (Third Industrial Master Plan, 2006 - 2020). In a small and open economy like Malaysia, productivity enhancement of the manufacturing sector is especially crucial in the growth and continuous development of the economy In this analysis will evaluate the efficiency of Malaysian manufacturing industry and attempts to identify its influencing factors. The final section summarizes all the findings and concludes the study
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