More examples. 1  She rubbed sun lotion over her entire body. 2  With the back of his hand, he rubbed the stubble on his chin. 3  He rubbed his hand despairingly over his face.  The strap had rubbed against his skin and caused 1  irritation. The shoe had rubbed a raw place on her heel.
We argue that cross-country differences in accounting quality are likely to remain following IFRS adoption because accounting quality is a function of the firm's overall institutional setting, including the legal and political system of the country in which the firm resides.
The Accounting Standards for Private Enterprises provide standards for the timing of recognition of revenue in the financial statements, but do not deal with the measurement of revenue, which is usually determined by agreement between the parties involved.