International Accounting: Comaprison

In 1853, first association of professional accountants, it also can be regarded as the beginning of the modern accounting profession. The UK accounting system is conducive to a principles-based approach rather than a rules-based approach to standard setting. Furthermore, the UK 's politic system is common law, which shows that accounting system in the UK has relatively fewer statutes, more interpretation and tends to be more flexible, adaptive and innovative, etc. Also, taxation does not have influence on accounting system, but Germany and Japan are in opposite Therefore, these all can have a significant influence on accounting system in the UK.

Even if uniformity were to be reached, the IOSCO disclosure standards do not encircle all of the information required of an easy access to cross-border capital markets.

The researcher would like to thank the following people who help and give guidance to make this project

An aging of a company's accounts receivable indicates that $4,500 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1,200 credit balance, the adjustment to record bad debts for the period will require a

General comments (1) Both the analysis questions were taken from the lecture examples, additional exercise, workbook exercises and practice test. Students who had worked through these materials were competent in handling the mid-term test. Students who believe that they did not perform as well as they had expected should going through the lecture materials and workbook more thoroughly before the final exam. You may also want to work through the mid-term 2 to identify the gaps in your understanding. It is important to focus on the topics that you have not achieved an adequate mark. Please see the

Topics 1. 2. 3. 4. 5. 6. 7. 8. *9. The disclosure principle; type of disclosure. Questions 2, 3, 4, 24 1, 2 3 4, 5, 6, 7 1, 2 3 1 2 Brief Exercises Exercises Problems Cases 1, 2, 3, 4 1, 2, 3, 4, 5 5, 13 6, 7, 8

(b) The reasons why applying the new accounting policy provides reliable and more relevant information;

This intense focus on reducing debt produced consistently strong financial results with a minor decrease during difficult economic years of 2007 and 2008. Return on asset and return on equity numbers had similarly increased with the return on assets reaching 10% and return on equity exceeding 12% in 2011. In each of the past five years, the dividend payout ratio had just been below 30% of the net income. However, the interest rate earned on invested cash was barely over 0% contributing almost nothing to net income. Return on equity was similarly reduced by the avoidance of debt and complete reliance on equity capital. The pro forma results presented in Exhibits 4 and 5 show

Global interdependence and the existence of large multinational enterprises create a need for global accounting. Multinational corporations are companies that carry out business in more than one country other than their home. Companies go global for many reasons: to increase sales, improve profits and innovation. Decentralization is essential for the creation of large firms, because CEOs are otherwise constrained in the number of decisions they can make directly -- it is therefore critical for enabling productive firms to grow large and to take market share from unproductive ones. Because trust is strongly linked with more decentralization, it in turn affects productivity. The absence of trust, in developing countries like Brazil, China, and India, explains why productive firms do not grow large and drive out unproductive firms from the market place. Decentralization presents problems within itself. With this, Management accounting is a system of measuring and providing operational and financial information that drives management’s actions in areas of actions and behavior. Unlike financial, managements accounting generates reports for personnel inside the organization, not stakeholders. It’s purpose is to an organization reach its strategic objectives. Internationally the primary strategic goals of managerial accounting are global efficiency, multinational flexibility and worldwide learning. This initiates emphasis on planning and control.

Office hours: Thursday 4:30-5:30: as announced in class; and by appointment. (NOTE: I am typically in most weekdays, and appointments—face-to-face or telephone—are typically easy to arrange. I am also available by e-mail.)

During Transnet’s 2015 financial year they recognised revenue under IAS 18: Revenue. During the same financial year a new standard to account for revenue was issued namely IFRS 15: Revenue from contracts with customers. The reasons for issuing a new standard was because IAS 18 was broad and therefore lead to confusion and inconsistencies in the treatment of similar transactions. The new standard results in different accounting implications in the annual financial statements of Transnet. To evaluate the accounting implications of IFRS15 it must be compared with IAS 18. One major implication is the change from recognising revenue from services rendered by using the percentage of completion method that is stated in IAS 18. IFRS 15 recognises revenue either over-time or at a point in time.

influences its market value. The debt-equity mix has an overall implication for the shareholders’ earnings and risk

I am using this opportunity to express my deepest gratitude and special thanks to my mentor Rohit Sharma (CTO), who took out his valuable time to help me out and guide me, allowing me to carry out my project, and for giving me necessary guidance

Accounting is one of the oldest social sciences disciplines whose development has been affected by a variety of historical, economic, social-cultural and institutional factors. In essence, although the discipline is currently harmonized across different nations, accounting systems have been influenced by different national traits, a factor that also influenced the differences in accounting systems at the international level. In general, the accounting systems in use in different countries have developed as a result of different influential factors in each jurisdiction. Regardless of the jurisdiction, however, a number of key factors are generally agreed to have influenced the development of the accounting discipline. The most common

First of all, I would like to thanks all those people who helped me directly or indirectly to complete my project whenever I found my self in problems. Our all faculties encourages me and due to their kindness and helpful nature and help I got very much confidence to complete this project.