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Financial Reporting in the Global Arena

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Financial Reporting in the Global Arena Powered By Docstoc
					International Accounting
A User Perspective
2nd Edition


by
Shahrokh M. Saudagaran
Chapter 1

FINANCIAL REPORTING
IN THE GLOBAL ARENA
Learning Objectives:

    1. Identify the main environmental
       variables that shape accounting.

    2. Recognize the differing role of
       accounting throughout the world.
Learning Objectives:
    3. Demonstrate the economic effects of
       accounting diversity.

    4. Appreciate the benefits of classifying
       countries into accounting clusters.
Chapter Outline:
I.        Introduction

II. Interaction between Accounting and
    its environment
     1)    Nature of Capital Market
II. Interaction between Accounting
    and its Environment

  2)   Type of Reporting Regime

  3)   Type of Business Entities

  4)   Type of Legal System
II. Interaction between Accounting
    and its Environment

  5)   Level of Enforcement of
       Regulations

  6)   Level of Inflation

  7)   Political and Economic Ties
II. Interaction between Accounting and
    its Environment

  8)    Status of the Accounting Profession

  9)    Existence of a Conceptual
        Framework

  10)   Quality of Accounting Education
III. Diverse Roles of Accounting in
     Countries

      Policy Choices in Accounting

IV. Effects of Diversity on Capital
    Markets
V. Classifications of Financial
   Accounting and Reporting Systems

     Review of Selected Classification
     Studies
VI. Major Challenges Facing
    Accounting Globally

  1)   Global Harmonization

  2)   Quality of Financial Reporting in
       Developed and Emerging
       Economies
VI. Major Challenges Facing
    Accounting Globally

  3)   Social and Environmental
       Reporting

  4)   Financial Reporting in the High
       Technology Era

				
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posted:9/20/2011
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