Select A Non Uk Company And Obtain Its Latest Annual Financial Reporting Documents

Every country differs in culture which has been there for centuries. The international market is growing rapidly, with more and more multinational organisations entering new markets each day. In this assignment I will evaluate how the difference in cultures affects the performance of international businesses.

Ball, R. / Kothari, S. / Robin, A. (2000): The effect of international institutional factors on properties of accounting earnings, Journal of Accounting and Economics, Vol. 29, (2000) pp. 1-51.

1- The Lufthansa Annual Report is financial accounting document as it provides information for external users like consolidated income statement, consolidated balance sheet and consolidated cash flow statement and it gives information about past performance while managerial documents must be up to date information, since it was published so it is conclusive evidence that it is a financial document because managerial documents are prepared for internal users. (1)

Understanding the influence of culture in business practices and managerial decision-making requires explaining the differences between cultures. This is why, Hofstede (appendix 1) presents a well-known model based on four dimensions of culture:

Gray identified four widely recognised accounting values that can be used to understand a nation’s accounting practices, which are professionalism, uniformity, conservatism and secrecy (Doupnik & Perera, 2015, p. 37). Professionalism verses statutory control is understood to be the difference between a nation’s preference for either individual professional judgement and self-regulation

* Cultural differences across countries and regions of the world have complicated efforts to develop a common set of international accounting and auditing standards.

The objective of this report is to link the principles of financial accounting with the actual performances of companies by using their financial statements & other published information about their activities.

An organizational leader, one with familiarity of financial statements and their impact on the business as a whole, has an opportunity to play a vital role in his or her position. The purpose of this paper is to collect, sort, and report on the financial data of publicly traded company. This is much like that which is performed by a Certified Public Accountant. In the case of this exercise, the information is presented from the perspective of a student and future business leader. A summary of both the company’s business and financial health is also included in this paper. Without further ado, let’s delve in to the company chosen for this assignment.

With the development of the stock markets and the huge grow in the volume of money traded in them, over the past 20 years a rising attention has been aimed at towards the importance of truthful and fair accounting. The real interest in how companies chase their financial reporting has developed in the wake of a multitude of large

According to the conceptual frameworks used by both the Financial Accounting Standards Board and the International Financial Standards Board, one of the main reasons why companies prepare financial reports is to allow users of financial statements make decisions regarding the provision of resources to the firm (Financial Accounting Standards Board, 2010; International Financial Standards Board, 2010). These decisions relate to the buy, sell, or hold moves that investors make based on the information received from the company. Both conceptual frameworks also include credit investors as being interested in the company’s performance as reflected in the financial reports. Apart from proving information to investors on the company’s projected cash flows, financial statements also play the important role in enhancing stewardship responsibilities that rest with managers. These requirements have connotations of financial statements being relevant to the targeted audience. In addition, financial statements are expected to be reliable from the audience’s viewpoint.

Professor G • Hofstede culture more than fifty countries around the world conducted the investigation , analysis and comparison . In the field of international academic Professor G • Hofstede study is considered the cultural differences and cultural differences affect the authority of the management strategy. In the global economy , and the world are focused on the development of the company 's strategy on how to meet the largest market , the largest customer of products and services and the study of different cultures and values is the key to the success of such a strategy .

The report starts with an introduction by articulating the purpose of the report and an overview of the company profile and a brief situation Analysis (PESTEL, SWOT and Porter’s Five Forces) and provides a brief summary of the Accounting framework and EU legal requirements on the Annual reports and the implications for Accor SA.

The focus of this assignment is to understand accounting terms, importance of accounting and reporting and how accounting and reporting take place in the business entity. It is also aimed to find out the flow of accounting information from the beginning to the end. And to understand accounting standards and principles.

The field of accounting and economics is perhaps one of the areas that has interested the interest of many researchers after education and sciences. Despite the extensive research in accounting and economics, little has been known about the “Positive Accounting Theory” and its implications or impacts on human behavior and practices in accounting settings. The reason is that majority of the previous researchers focused on identifying various ways of improving accounting systems, their security and the accounting experience among accountants. To fill this gap in accounting research, Dunmore carried out a research study in which he applied the positive accounting theory to a research program aimed at establishing the causal

Businesses all over the world use financial statements to get an idea of how their business is operating. It is important for accountants and Chief Financial Officers within the organization to come up with statements that enable business leaders and shareholder with an idea of how the business is doing for a certain time. Financial statements can be uses for auditing purposes and provide the business leader with the information needed to make decisions in reference to the company. There are different types of financial statements and there will be brief overview of how these statements benefit a company as a whole. Income statements, balance sheets, owner’ equity and statement of cash flows all reflect and provide information to business leaders that can aid with making the best decisions concerning goods and services they provide to consumers.