Globalization: obstacles to harmonization of accounting
Not what you're looking for?
Explain some of the more significant obstacles to harmonization of accounting systems and offer some suggestions for overcoming these obstacles.
Purchase this Solution
Solution Summary
The response addresses the queries posted in 576 words with references. Harmonization in accounting system is very important for smooth accounting and functioning. In this paper, we will discuss harmonization and will throw light upon obstacles to the harmonization of accounting systems.
Solution Preview
The response addresses the queries posted in 576 words with references.
// Harmonization in accounting system is very important for smooth accounting and functioning. In this paper, we will discuss harmonization and will throw light upon obstacles to the harmonization of accounting systems. //
Harmonization of accounting systems is essential because harmonization will flow the international financial information comparability. This comparability will then be helpful in removing misunderstandings that exist today related to the reliability of foreign financial statements. It would also save time and money, which is now spent to merge the divergent financial information, when two or more reports have to abide by different national laws.
Differences in political and economic system amongst numerous countries are the pertinent obstacle that hinders the harmonization of accounting systems. Political influences disrupt the harmonization process of accounting systems and add more of confusion and cost to the process (Lew, 2005).
In addition, it is considerable that ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
Recent Feedback
- "Thank You so much! "
- "Always provide great help, I highly recommend Mr. Sharma over others, thanks again. "
- "great job. I will need another help from you. "
- "first class!"
- "Thank you for your great notes. Will you be willing to help me with one more assignment? "
Purchase this Solution
Free BrainMass Quizzes
Organizational Behavior (OB)
The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.
Basic Social Media Concepts
The quiz will test your knowledge on basic social media concepts.
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Writing Business Plans
This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.