Author name: accountancy

Accountancy

Accounting, Auditing, Business and Technology, Economics, News

Proposed iPhone Update Tax by German Foreign Minister: Implications for Accountancy, Auditing, and the Economy

/
Germany’s Foreign Minister Annalena Baerbock has proposed a tax or tariff on iPhone software updates in response to the United States’ protectionist measures on European goods. If implemented, this digital levy could set a new precedent in cross-border taxation and trade retaliation. This article explores the comprehensive implications of this proposal from the perspectives of accountancy, auditing, and macroeconomics. 1. Accounting Implications of the iPhone Update Tax The introduction of a tax on iPhone software updates would require Apple and other digital service providers to reevaluate various accounting treatments and disclosures.…
Economics

The Economics of Attention: How Digital Platforms Monetize Your Time

/
In the digital age, attention—not oil or data—has become the most valuable commodity. Social media networks, streaming platforms, mobile apps, and search engines all compete for a finite resource: human focus. This article explores the emerging field of attention economics, explaining how digital platforms monetize user attention, the business models that drive this economy, and the societal consequences of commodifying cognitive engagement. Understanding Attention as an Economic Resource First coined by economist Herbert Simon, the concept of attention economics is based on a simple premise: in a world rich in information, attention becomes the limiting factor.…
Business and Technology

The Truth About Social Credit Scores in America: How They Work and Why They Matter

/
Imagine walking into a bank, eager to secure a loan for your dream home, only to be denied because of a three-digit number. Or picture yourself applying for an apartment, only to be turned away for the same reason. That number? Your credit score. In the United States, credit scores wield an enormous influence over financial freedom, dictating everything from mortgage approvals to job opportunities. But how are these scores calculated, and what happens if yours is too low?…
Economics, Management Accounting

Why Is a Chinese Cancer Drug 30 Times More Expensive in the U.S.?

/
A cancer drug developed in China offers hope to patients at a fraction of the cost—unless you’re in the United States. Despite being chemically identical, the medication is priced up to 30 times higher for American consumers. This stark disparity raises urgent questions about drug pricing, healthcare policy, and the influence of pharmaceutical middlemen. In this article, we explore why the same life-saving treatment comes with such a vastly different price tag depending on where you live.…
Accounting

Accounting Entries for Revaluation of Fixed Assets

/
Revaluation of fixed assets involves adjusting the book value of an asset to reflect its current fair market value. This process ensures that the asset’s value on the balance sheet is not materially different from its recoverable amount. The revaluation can result in either an upward (gain) or downward (loss) adjustment and must be recorded in accordance with applicable accounting standards such as IAS 16 – Property, Plant and Equipment. 1.…
Accounting, Auditing

ACCA Code of Ethics and Conduct

/
The ACCA (Association of Chartered Certified Accountants) Code of Ethics and Conduct provides a framework of ethical principles and guidance for professional accountants. Based on the International Code of Ethics issued by the International Ethics Standards Board for Accountants (IESBA), the ACCA Code promotes integrity, transparency, and professionalism within the accounting profession. Compliance with this Code is mandatory for all ACCA members, affiliates, and students. 1. Objectives of the ACCA Code Promote Ethical Behavior: Encourage high standards of integrity and honesty.…
Accounting

Arguments Against Privatisation

/
Rethinking the Logic of Selling Public Assets Privatisation—the transfer of ownership and control of enterprises from the public to the private sector—has been a defining feature of global economic policy since the 1980s. Promoted for its promises of efficiency, innovation, and fiscal prudence, privatisation has reshaped economies from the UK to India, from Argentina to South Africa. Yet, while advocates have often touted its successes, an increasing body of economic literature, political analysis, and lived experience presents a robust critique.…
Accounting

Privatisation and Nationalised Industries: A Historical and Economic Analysis

/
Ownership and the State The debate between privatisation and nationalisation is central to the design of modern economies. Both concepts pertain to the ownership and control of key industries and services. While privatisation involves transferring ownership from the public sector to private hands, nationalisation denotes the state’s assumption of control over private enterprises. This article delves deep into the theoretical foundations, historical trajectories, and economic impacts of both approaches, using global and UK-specific examples to illustrate how shifts in ownership structure have influenced economic performance, public welfare, and market dynamics.…
Accounting

Public Policy in Favor of Monopolies and Mergers

/
Rethinking Concentration Public discourse often associates monopolies and mergers with economic harm—higher prices, reduced innovation, and restricted competition. However, certain public policies have supported or tolerated monopolistic structures and large-scale mergers due to their perceived benefits. Contrary to popular belief, the state’s engagement with corporate concentration is not always adversarial. In fact, in some circumstances, governments promote or allow monopolies and mergers for reasons of national interest, efficiency, innovation, and economic stability.…
Accounting

Breaking Up Existing Monopolies: Economic Rationale, Policy Mechanisms, and Global Debates

/
The Power and Peril of Monopolies Monopolies, where a single firm dominates an entire market, have long been a central concern in economic policy. While monopolies can arise through innovation, economies of scale, or government protection, their unchecked power often leads to reduced competition, higher prices, lower innovation, and weakened consumer welfare. One proposed remedy is the structural breakup of monopolies—an aggressive antitrust measure aimed at restoring market competitiveness. This article examines the logic, implementation, consequences, and controversies surrounding the breakup of monopolies, drawing on theoretical frameworks, historical examples, and contemporary debates.…
Scroll to Top