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.

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.

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.

Brazil, as a country, is teetering on the brink of prosperity while still firmly anchored in its turbulent past. Economically, Brazil poses to become a powerful force in the global marketplace. However, the cultural impacts of their society are evident in their accounting system and business practices. When compared with the United States, Brazil ranks much higher in power distance, uncertainty avoidance, and long-term orientation. This leads business people in Brazil to maintain a higher level of secrecy, though not as high as countries like Japan. Additionally, Conservatism remains strong in Brazil, as well as uniformity; it is no surprise that the Brazilian accounting system closely resembles the rules prescribed by IFRS.

The company’s annual report is important because it gives the shareholders a clear picture and understanding about how the company is doing financially. The annual reports provide thorough information on very significant section of the accounts, such as the balance sheet, the income statement, and the cash flow statement. The information presented in the annual report would also be essential to potential investor, employee, and any other people that may have interest in financial aspect of the business.

Abstract: The significance of cultural influence on business has been widely recognized in both academic and business circles. A number of authors suggest that an anthropological approach is the most appropriate way to study cultural factors and assess their impact on an organizational environment. This investigation draws attention to several important cultural issues in business utilizing an anthropological perspective. It probes the relationship between culture and human behavior,

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.

The purpose of this report is analysing and comparing financial data of five companies in one industry sector, which are listed in the U.K London Stock Exchange (LSE). By doing these, the business models employed are identified and evaluated, which consequently implies that the report is reinforcing our current knowledge in accounting and in the current market. Moreover this report is assessing how could a potential investor invest 50 million pounds among these five companies.

From the large, multi-national corporation down to the corner beauty salon, every business transaction will have an effect on a company's financial position. The financial position of a company is measured by the following items:

In today’s society, the international trading constitutes an increasingly significant portion of the world economy than ever before. Having opened more subsidiaries in different countries and invested in foreign markets, companies and investors are more exposed to problems reading accounting records and auditing reports composed under different accounting principles. To better understand the reason behind the accounting diversity, we need to dig into countries’ different cultural background which imposes great influence on formation of accounting and auditing principles and ways people practice. This paper will analyze how culture affects financial reporting and auditing with the support of classic culture theories and facts.

This paper will scrutinizes the actual impact of culture on financial management. Before I proceed to what I believe to be not only a factually inept argument of cultural influence on economics but also a grossly delusional and rather prejudiced view as well, I must first set some sort of context to what I am alluding to. The assignment stipulates for me to, address if the framework of financial management can apply to any country or culture. The simple and short answer to this is “no”, financial management is different depending on the country and or culture. For example Germans don’t buy into the same type of capital structure that North Americans do, nor do Muslims have the same type of financial system to that of the west. Simply put

Unlike here in the United States., financial statements of foreign companies are not always readily accessible. Most importantly, it is often not in English. However, an analyst or any interested party can always obtain a convenience translation of financial statements either through pay-database-services or by requesting it directly from the companies. Of course, different currency is also a concern. Yet, it can easily overcome by converting and translating previous years’ balances as well as current year’s balances (and line items) at current year currency exchange rate; this helps eliminating distortion and translation adjustments. Nevertheless, some other serious concerns such as terminologies discrepancies, general accepted accounting principles (GAAP) differences, and financial ratio analysis may still arise when analyzing “translated” foreign financial statements (Doupnik & Perera, 2012) .

The purpose of this work is to explain the essence of financial analysis and reporting as well as their importance in the decision making process affecting the company. Today I will be concentrating on Steiner’s Leisure Limited annual review. My work consists of two parts. In the first chapter I discuss the nature of financial decisions based on a company’s financial information. In the next chapter i will evaluate the financial performance of the business.

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: