Global Accounting Standards

How changing world environment is leading to an increased focus on international accounting Saudagaran (2009) says, â€Å"The purpose of accounting is to provide information that is useful for making business and other economical decisions.†Advertising We will write a custom research paper sample on Global Accounting Standards specifically for you for only $16.05 $11/page Learn More The growth for businesses from small companies to multinationals has raised the need for international accounting since the accounting information is needed by the stakeholders for making business and economical decisions. (Saudagaran). In the capital markets where capital is graded, listed companies need to apply international accounting standards especially if the market is experiencing a steady growth. This will make it easy for foreign investors to make timely and well informed decisions on investing in the market without undergoing the consultation cost or learnin g the new accounting standards. (Saudagaran, 2009). In 2008, during the sub-prime loan crisis in America, financial institutions and investors worldwide experienced massive losses from the meltdown. The crisis provided evidence that in a global financial system, national borders are porous. (Saudagaran) Difference in accounting method as they are applied internationally There are two types of accounting methods the cash and the accrual method. According to Rich et al 2009, cash method mainly deals with incomes. Under cash basis accounting, revenue has to be recorded when the cash is received regardless of when it is actually earned. Similarly, an expense is recorded when cash is paid.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In addition, by recording only the cash effects of transactions, cash-basis financial statements may not reflect all the assets and liabilities of the c ompany at a particular date. For this reason, most companies do not use cash method. (Rich et al, 2009). Accrual method is an alternative of cash method and transactions are recorded when they occur. (Rich et al 2009) He further says that â€Å"the reason why accrual accounting is superior to cash method is because it ties income measurements to selling which is the principle activity of the company.† So this means that all revenues are recognized as they are earned and all expenses are recognized when incurred. Accrual method also has a more complex system that records both cash and non cash transactions. (Rich et al). Time period assumption Most stakeholders usually demand timely information from companies so companies have to frequently produce financial report like the quarter year report, half year report and end year report to satisfy information users (Rich et al, 2009). Since companies are involved in different activities every time, there is great need to record ever y transaction on time for proper accountability. Revenue recognition period This principle is used to determine when revenue is recorded and reported. Under this principle, revenue is to be recognized or reported in the period in which these two conditions are met; the revenue is earned and collection of cash is reasonably assured. According to Rich et al (2009), the requirements are met when goods or services have been delivered or performed to the customer since at this point the risk of ownership has been transferred from the seller to the buyer regardless of when the cash is received. Matching principle In matching principle expenses are incurred regardless of when the cash is paid. (Riahi, 1985) Expenses of an accounting period should include only those costs used to earn revenue that was recognized in an accounting period and exclude cost used to earn revenue in early or later periods thus the key to expense recognition is matching the expense with revenues. (Rich et al, 2009) .Advertising We will write a custom research paper sample on Global Accounting Standards specifically for you for only $16.05 $11/page Learn More Classification of accounting models used in different geographical regions Bhattacharyya 2005 states that, â€Å"accounting model is a key that unlocks the mystery of double entry accounting†. Accounting models are based on two major parts; the T model, the five ledger accounts model which are also the accounting models. Accounting models include asset account, revenue account, liability account, equity account and the expense account. The accounting model used in a particular geographical region basically falls under either of the above mentioned depending on the preferred model and business. Role of International Accounting Standards Committee and International Accounting Standards Board The role of International Accounting Standards Committee through committees and consultations with the Internationa l Accounting Standards Board in establishing International Accounting Standards is issuing interpretation of standards since was replaced by the International Accounting Standards Board. (Mattessich, 2007). The International Accounting Standards Board’s role is to regulate and amend International Accounting Standards and International Financial Reporting Standards and also to create new standards if possible. They essentially oversee the application of the standards to ensure uniformity. Examination of different accounting standards and determinants of national accounting standards Political and economical ties Countries which are geographically close usually create trade unions for free movement of goods, services and capital between them. Political and economical ties play a major role in the formation of these trade unions which relatively affect the accounting standards used by the union nations. (Riahi, 1985). Nations like Germany have adopted the cash method since itâ⠂¬â„¢s a communist government and its main focus is the welfare of every individual. Britain, a capitalist government has adopted accrual method since in a capitalist government the main focus is about competition which will in turn influence growth. Therefore, all the nations allied to the two countries tend to have similar accounting practices. (Riahi, 1985).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Level of inflation During inflation firms tend to choose a different accounting policy for stock keeping, either LIFO or FIFO, to ensure maximum profitability. (Mattessich, 2007). The governments usually try to cub the level of inflation by employing both scholars and professionals to try and regulate inflation. In Zimbabwe, a country that has the highest level of inflation, very minimal growth can be achieved so the government tries so much to fight inflation. In developed countries like America, inflation has very minimal effect so the two countries are forced to adopt different accounting standard for the welfare of the people. Level of economic development Germany is a major producer of goods and low producer of services since most of its population comprises of the elderly. This means the government receives more taxes from exports. The government has adopted the cash accounting model since this model ensures that the welfare of the people is well catered for. In Britain, the g overnment has adopted both the accrual and the cash model. This is because Britain is a major producer of goods and services. They have adopted a capitalist kind of government which encourages people to work hard. National culture The national culture is usually carried down from one generation to another. Germany colonized most of the African and European countries. Germany has adopted a communist kind of government. Such countries adopted a similar kind of government and accounting practices that were carried down to the subsequent generations. Relationships between business and capital providers This is especially important if the capital providers are foreigners. This is because the capital providers will need accounting standards that they best understand. This is mostly experienced in the capital market especially when a steady growth is noted and most investors are foreigners (Bhattacharyya, 2005). Both Brazil and India have been forced to change their accounting standards to influence capital inflow from foreign investors which is healthy for growth. This is because the two countries have had a steady growth. Therefore, in conclusion, these various determinants impact significantly in the determination of a country’s accounting standards. Thus such factors should be put into consideration in understanding the reasons of adopting one accounting model over another. References Bhattacharyya, U. (2005). Municipal accounting: concepts and practical issues. Mittal Publications: India. Mattessich, R. (2007). Two Hundred Years of Accounting Research. Routledge: Britain. Riahi, B. (1985). International Accounting: issues and solutions. Quorum Books: California. Rich, J., Mowen, M., Hansen, D. Jones, J. (2009). Cornerstone of Financial Accounting. Cengage Learning: Florence. Saudagaran, S. (2009). International accounting: A User Perspective. (3rd ed.) CCH: Chicago. This research paper on Global Accounting Standards was written and submitted by user Jonah A. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Richard and Saladin essays

Richard and Saladin essays Richard 1 and Saladin were both major leaders in the Third Crusade. They were both very intelligent at an early age, and possessed precocious political and military ability, which made them very successful. Richard was hot-tempered, cruel, and irresponsible, which made it easy for him to be despised by many. In contrast to Richard, Saladin studied poetry and was known as a saintly hero by the Muslims. He was even admired by the Christians for his honesty and bravery. Saladin and Richard had mutual respect for one another after the Battle of Arsuf, when they had made a truce. Both Richard and Saladin had great military and political abilities at an early age. Richard 1 was given the duchy of Aquitaine, his mothers inheritance, at the age of 11 and was enthroned as duke at Poitiers. Richards eldest brother, Henry the Young King, was simultaneously crowned as his father's successor. Richard and his other brother, Geoffrey, then learned how to defend their property while still teenagers. Richard was also six feet four inches tall, which gave him a great advantage militarily. Saladin, as a child, was a scholar who studied the Koran as well as poetry, and his scholarly ways would continue through his life. At the young age of fourteen, he entered into the service of his uncle who was a great and respected Arab warrior. Another mentor of Saladin was the Saracen chief Zenghi. Saladin learned his military lessons well and soon began to stand out among Nur ed-Din's forces. Richard had no filial piety, foresight, or sense of responsibility. He joined his brothers in rebellion against his father, who invaded Aquistaine twice before Richard proposed and received pardon. Afterwards, Richard was occupied with holding back people revolting in his own duchy. His harshness made the Gascons angry, and they later revolted. After Richard became heir to England, and to Normandy and Anjou, his father wished him to yield Aquitaine to his you...

ANswer the questions Assignment Example | Topics and Well Written Essays - 250 words

ANswer the questions - Assignment Example In the piece, the followers are fond of Jones due to his thoughts and ideas. Jones is also of good character. He is admired for his conduct, nature, and constructive ideas. There are several explanations that help illustrate the relationship Jones had with his followers. It is evident, however, at some point; Jones was not a charismatic leader. Charismatic leaders are supposed to integrate the opinions and ideas of his followers and not just issue commands. Jones used threatening symbols and threats to ensure loyalty from the people. Unlike Jones, charismatic leaders should give their followers to come up with a platform that they can create solutions to problems. Charismatic leaders give their followers the freedom to express themselves and allow social interaction. For the better part of his life, jones was a transformational and charismatic leader. He was charming and even the high political leaders in San Francisco wanted to be associated with him. He was able to develop ideas that integrated racial equity. Jim Jones was not concerned with race and did not practice any racial bias. He was devoted to helping the oppressed especially the African-Americans (Caulla 154). His approach of an ideal and better world made devotion to his cause possible. Most people that would have found out about Jones addiction to drug use would stop following and believing in him. Furthermore, he let his personal attributes get the best of him. His close associates did not want the public and his followers to know about the massacre. He played with the public’s emotion to ensure his relevance. At one point, jones argued that the people that committed suicide did a justified cause to a revolutionary action that disproves a brutal

Globalization and Healthcare Essay Example | Topics and Well Written Essays - 750 words

Globalization and Healthcare - Essay Example Thesis: Profession in Construction and Engineering play a critical role in globalization of healthcare provision. II. Engineering technologists design and construct hospital equipment for efficient healthcare. Such equipment have enhance globalization of healthcare III. Professionals in construction and engineering design health care facilities. They collaborate with health professions to ensure the facilities for different healthcare departments are conducive. IV. Developments in the field of construction and engineering have enhanced transport and communication. This has enabled traveling across the globe in search of better healthcare. Additionally, improved communication has enhanced sharing of knowledge between health professions. Introduction As healthcare provision becomes more individualized and global, the need for technological advancement has become inevitable. This has resulted in partnerships between professional in engineering and those from the healthcare profession. T his has proved helpful by enabling efficiency in overall healthcare provision. The field of construction and engineering play a role in several other fields including healthcare. Engineering technologists are involved in applying scientific principles as well as theories to manufacture appliances that help solve technical problems in fields such as medicine and healthcare. Professions in the field of construction and engineering have greatly contributed in enhancing healthcare research. Engineers ensure that devices used in healthcare are of quality through their role of quality control and inspections. Additionally, medical devices and machineries require frequent maintenances, which are done by engineering technologist. This paper focuses on the role of construction and engineering in globalization of healthcare. Additionally, the paper will analyze how construction and engineering projects affect global healthcare. There are several roles played by construction and engineering pr ofessions in enhancing healthcare. Health care professions do not have skills required to design and manufacture healthcare devices and machineries. The healthcare facilities require be designing and constructing appropriately, which is only possible through the intervention of engineers. Additionally, health care providers cannot maintain the machineries as well as the healthcare facilities. The role of engineers is thus crucial for effective operations in the hospitals. For sustainable health care provision, the healthcare providers must collaborate with professions from construction and engineering. For globalization of healthcare, there is need for changes in medical technologies, which are designed, developed, and maintained by engineers (National Academy of Sciences Web). Engineering technologists working in the field of research are involved in developing and manufacture of hospital equipment. The equipment could be for conducting experiments, data collection, record keeping, as well as for diagnosis and treatment purposes. Research conducted by engineering technologist aids in designing of new equipment such as computer aided machineries improving healthcare provision (National Academy of Sciences Web). Professions in construction and engineering play the role of designing and construction health care facilities. They ensures that the healthcare facilities are conducive for efficient healthcare provision. Additionally, the engineers must work in collaboration with healthcare professions to construct healthcare

Brahman Is The Highest And Most Supreme Religion Essay

Brahman Is The Highest And Most Supreme Religion Essay Brahman is the highest and most supreme of all Hindu gods. It is the transcendent, immanent, infinite, unchanging, eternal reality. The Divine Ground that sums up all the being, space, time energy, matter and all within and beyond this universe. Brahams nature is described as impersonal, personal and transpersonal. Brahman, conceived from the Hindu verb brh, means infinity and greatness. Brahman was born from Brahma who is the creator, the source and the seed of all that is in this world. Brahman, due to his functions as the creator of all, is not allowed to have a lot of devotees and is thus unpopular among the Hindu pantheon since his wok demands attention, concentration and introversion. As there is no more creation, he lost his importance to other gods; Vishnu and Siva, of the Hindu trinity. He is said to be father of Manu, from whom all Hindus descended from. Brahman is the universal substrate or the absolute reality and should not be confused with Brahma, god and the creator. T hey say that Brahman cannot be known through material means, and we cannot be made to be conscious of it as he is our very own being and consciousness. Atman on the other hand refers to the true self of a person. Philosophically it is the soul either individually or globally. It could also b defined as the source o all the individual souls. It is the indistinguishable, unchanging and eternal essence. According to Hinduism, any mortal existence has an immortal aspect and this is always hidden within every created object and this includes man. Atman provides experience of the pleasures and pain of earthly life thus giving us reason to live and imparts divine possibilities and qualities. Atman being the silent partner and dweller within us and all our experiences and deeds, can only be felt when no other sensory activities impact the mind. This is attained through yoga. In Buddhism however, the cause of misery is ignorance which is a prime consequence of the belief that there exists an atman that is unchanging. Our soul or atman is identifiable readily with Brahmans greater soul. Buddhism In Buddhism, Anatta is the selfless idea of non-self. It means that everything perceived is not in the I or mine sense and thus one should not cling on to. It encourages people o develop a sense of willingness to let go at any time as these perceived objects become unnecessary to ones self. The rebirth doctrine should be well differentiated from the reincarnation theory which refers to the soul transmigration and its material rebirth invariable. Buddhism does not recognize the existence of an eternal or unchanging soul that emanates from divine essence. It is in sharp contrast to Hinduisms self awareness ideology of atman. According to Buddhism there is nothing that is fixed or permanent in our existence. Everything is subject to destruction and decay. No man should identify himself with any form or name but rather be aware of the continuous change process of becoming. In Japanese Buddhism, Satori means enlightenment. It is a surge o sudden individual enlightenment and/or awareness. It is coined from the Zen Buddhist culture and considered as the embarkation or earlier step towards nirvana. Satori can and is often juxtaposed to the term kensho meaning viewing ones nature and character. Satori however, is a deeper spiritual state than kensho. Being an intuitive experience, It has been described as a situation like waking up one day to find yourself with an extra pair of arms to later learn how to use them. Satori is commonly attained from personal experiences by the traditional use of koans like the collection found in the Gateless Gate. They are theoretical puzzles students use in assistance of Satori realization. It does not occur to individuals but rather all concept realization individuals included therein. The Zen Buddhist student need to prepare their minds first with rigorous study with koans and then meditation which clears their minds from all attachments to the physical existence. In many Japanese folktales, Satori was referred to as a mountain dwelling creature with the rare ability to read the human mind and thoughts. Thus the only way to defeat a Satori was to empty ones mind completely. This way it will run in fear, leave due to boredom or die. Confucianism Confucianism put much emphasis on filial piety. I is on of the most important virtues and should be held highly. It is defined as the respect for ones parents and ancestors. The Classic of Xiao, a Confucian book written during the 400 B.C. period in a conversation between Zeng Shen, a student and Confucius. Filial piety, in Chinese culture, is the fist and foremost virtue. These religious traditions were until recent years, been enforced by law at times. It is a form of ancestral worship and its avoidance was punishable by law. This virtue should be shown to both the dead and the living alike and is a respect that has over the years bee extended to cover other five forms; friend to friend, elder brother to younger brother, husband to wife, father to son and ruler to ruled. The respect for elders was held in high reverence in all these forms of relationships and the living stood as sons of the dead. This filial piety idea adversely influenced the legal system in china. The book of fil ial piety written in the third century is the major source of filial piety importance and it was attributed to Confucius as well as hi son. Li is a Chinese word that is extensively used in Confucianism. It meaning is rather vague but in most cases it is attached to the word ritual. I is just an abstract idea and not and object of definitive nature. It has also been described and translated s the morals, etiquette or customs. It is generally a collection of rules of proper and good behavior. It broadly deals with the entirely whole spectrum of the contacts and interaction with nature, material objects and other human beings. Confucius, in his discussions, encompasses diverse topics like governance, mourning, titles, drinking tea, and learning among other things. Li entails the norms of proper behavior socially taught to us by government officials, village elders or parents. The teachings encourage loyalty, god faith, righteousness, brotherliness and filial submission. The Li influence has guided public expectations and has enhanced the loyalty to the community superiors and elders. Religious impulse. Religion has always been there perhaps even longer than human beings. There was an understanding of a supernatural force showed by Neanderthals millions of years ago. The most common and weird thread among the various religions in the world is the impulse to worship a supernatural being or just generally something at that matter. Therefore, religious impulse can be defined universally as the urge to put faith in a form that is always beyond our perception and understanding. Even in our era, a time of technological and scientific advancements, a lot of people believe in the unknown. Religion therefore is the belief in supernatural powers that control our fate that is entitled to our obedience, respect and worship. In every great religion, three aspects are paramount; charity, faith and hope. These are the ethics, ritual and theology respectively. It should entail conservation of values and be a system that involves a world view, a philosophy and a code of ethics. Different religions have different characteristics however most features are similar in different religions and these are; specific rules of conduct, sense of community and family, ethics system, institutions that are well organized, supernatural belief and life after death, soul existence and sacred scriptures and writings. The factors and root causes that may lead people towards religious impulses are the fear of death and whatever is lying in wait beyond that. Also humans are a curious bunch and the mystery of their existence pushes them towards a spiritual angle. Since we are incapable of answering most of lifes questions, like the purpose of our lives and the immaterial or the spiritual part of us, it creates a belief towards religion as the best form of explanation. Finally one just feels the need of a spiritual conscience to the materialism of modern life. The nature of the divine varies in different religious settings. Hindus for example, often think of themselves as monothei sts worshiping various divine aspects and no various divinities. However, outsiders always see Hinduism as similar to faiths inclined to traditional polytheistic. Idealistic Religion Among the above religions, Confucianism is the most appealing while I find Hinduism the least appealing. Hinduism consists of so many beliefs with a lot of intertwined gods and goddesses. The caste system of classes is also unrealistic as all human bins should be equal and receive equal opportunities. For a very long time his has bee the factor that has served most disservice to he Hindu religion. The idea of recognizing inequalities based on the lineage, family and birth and stating it as the will of god is alarming. Though Confucianism has shortcomings as well, its ethics and morals have positive influence on the society as a whole. The teachings of Li and filial piety are greatly important especially to children growing up. It is common sense to respect and obey ones elders and putting that into law is a great way of ensuring a society with good and polite morals. It involved action internalization allowing one to be open to the sensations panoply of the experience. It maintains a healthy selflessness practices to oneself and as an example set to others. Personal approaches as well as the approaches of the at large demonstrates how these values are utilized in everything, the good and the bad, the detailed and the broad, the formlessness and the form. The rituals and practices in Confucianism are dynamic. These practices have been modified and revised in accordance to emerging societal beliefs. Though the practices are bound to change, the fundamental ideology remains the core of the religious beliefs.

Socially Constructed Childhood Essay -- Papers

Socially Constructed Childhood Sociologists believe that children are not natural in society, that they do not behave naturally but that society has made children act as they do, and that there parents teach them how to act and make their personality for them at an early age. However childhood 'differs enormously according to time and place' so Philippe Aries believes. Children are treated differently to each other in different parts of the world, for example in India when a girl is 16-17 years old she is forced into an arranged marriage by which her parents arrange. That type of responsibility on a girl of that age is a lot, and most Indian girls refuse and end up running away from home or worse still killing themselves, but in their culture at that age they are seen as adults. Also in China girls are made to bind there feet up at an early age so that there feet do not grow any bigger. Some people may see this as a form of child abuse, but in China, that is what is expected of them. So there are quite a lot of differences in the upbringing of children. Not every child will turn out the same, all children will vary and that is to the way that they are bought up by there parents. It is not just the different cultures, which varies, but also the different social classes have a different way of bringing up children. The upper social class tend to spoil their children to a certain extent because they can with all the money that they have. This socially constructs the child to grow up with a spoilt nature, and would maybe affect the rest of his life because he will believe that he can get whatever he wants. This goes for 'designer babies... ...operly. All this is bringing out paedophilia and it teaches girls to be precautious because of the way they are being made to dress sexily at such an early age. Also it encourages stripping at an early age. In one of the routines that the young children have to do is they have to take of layers of their clothes in a sexy and perfectly timed manor to show off what they are wearing underneath. This shouldn't be forced upon young children because they will grow up with attitude problems all because the parents expecting too much from them. This idea of 'painted babies' is an obsessive way in which parents put pressure and abuse on their children. The way that they get the children to dress and look isn't natural for them at all, and this is a final example of how childhood is gradually disappearing in society today.

Working for a Manager or a Leader

If I had to make a choice between working for a Manager and working for a Leader, I would, first of all, consider working environment. If business is stable and the company needs mostly organizational administration, then a Manager can be preferable type of the superior. Managers are perfect in organizing people to achieve the goals. They are directing the work of their subordinates according to the plans, which are already established by someone else. Managers are great in performing routine activities, as well as supervising and controlling. Managers are usually the bosses, who appreciate strict order and discipline at work, and I suppose, this is very important for successful performance. But frequently business is dynamic and rapidly developing environment, which requires making a lot of risky decisions and looking for new directions all the time. In such situation, I think, it would be preferable to work for a Leader. Unlike the Managers, the Leaders know how to set up goals, motivate the employees for achieving these goals and initiate changes. Leaders can inspire their subordinates for personal improvement, support them, help them to find own place in the sun and to break a deadlock. Finally, the subordinates became the followers, who trust and understand their Leader and are ready to do the right thing. Therefore, working for a Leader brings more job satisfaction, favors personal development and can be a good challenge for ambitious employees. Bibliography:  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Vikesland, G. (n.d.). Are You a Manager or a Leader? Employer-Employee. Online Information Portal. Retrieved March 9, 2007, from .