The Growth Of A New Standard For Accounting Services

REVENUE ACCOUNTING ASSIGNMENT 2 – BUSINESS REPORT Name : Jea Sun Lee Student Number : N9558195 Word Count : 1000 words  Table of Contents EXECUTIVE SUMMARY 5 1.0 Introduction 6 2.0. Research and Evaluation 7-8 3.0 Future Implications of adopting AASB 15 for Australian companies 9 4.0 Conclusion 10 Reference List 11-12  EXECUTIVE SUMMARY The International Financial Reporting Standards (IFRS) Foundation and the International Accounting Standards Board (IASB) are a global language

Introduction Accounting standards are authoritative statements intended to narrow the areas of differences and varieties in accounting practice. It is important regulatory devices of accounting. It serves as a contract template among management, creditors and investors. As companies have become more globalized, comparing financial statements has become more difficult because of different accounting rules (maxwellsci). Over 100 countries have adopted International Financial Reporting Standards (IFRS) in

Labor Market for Accountancy Accounting, often called “the language of business”, is an industry that provides valuable services not only for businesses, but also for individuals. Accountants and auditors look over and analyze financial statements, prepare assessments, and ensure the numbers they work with are accurate and in accordance with governmental regulations. Although not the most exciting profession, current demand for accountants is high. According to Forbes, 61.2 percent of recent college

uses management accounting to ensure their high standard operating decisions will also provide the company with enough profit to remain competitive and continue to grow. Customer Value Proposition Differentiating

International standards on auditing were set to provide guidance for audits conducted all over the world. As globalization becomes more prevalent, it is essential that these standards are set to provide guidance in the conductions of audits internationally. Even though there are international standards, each country can develop their own set of standards and adopt some of the aspects of the international standards on auditing. However, there is no requirement that the standards set in a particular

Accountants play an important role in the world of business. The article, “The Future of the Accounting Profession and the Value of the CPA.”, illustrates the importance of the accounting profession and the challenges that accountants face. With over ten years of experience working in the areas of finance and office management, I have personal experience with various influences in the accounting world that were discussed in the article. This includes topics such as technological advancements, the

Financial Statement Analysis NAME ACC/561 Accounting DATE University of Phoenix PROFESSOR Introduction Samsung – International Manufacturing Company Samsung served as the manufacturing industry and international company analyzed. Samsung has been in business for over 70 years and manufactures products for diverse markets, including: digital media, high -tech electronics, home appliances, information technology and telecommunication. Samsung's motto is to "inspire the world and create

the two type standards; on one side we have the United States General Accepted Accounting Principle (GAAP) which has always been used until now with International Financial Reporting Standards (IFRS). A committee of accountants from the American Institute of Accountants (AIA) created the first set of US GAAP standards in the 1930s. US GAAP is a set of guidelines made to help publicly traded companies create their financial statements. The International Financial Reporting Standards (IFRS) serves

Accounting structure in Ireland: An Introduction The accountancy in Ireland has realized remarkable fame and achievement. In business, the professionals in the country are active as executives and managers, and members and leaders of company board. Moreover, in professional practice, the accountants handle the audit or consultancy needs of corporations, charities, and government. The resourceful profession of accountancy in Ireland shows how the field has achieved this success. Informed by its

offer high-quality accounting services”, Arthur Andersen (AA), a Northwestern accounting professor started a business to offer services to clients promoting “integrity and sound audit opinions over higher short-run profits”. The company’s “four cornerstones” was good service, quality audits, well-managed staff, and profits for the firm. Their strategy was to focus on quality and high standards of audits rather than profits, a very successful strategy that led to consistent growth over the years.