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FACTORS INFLUENCING THE DEVELOPMENT OF ACCOUNTING AROUND THE WORLD

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FACTORS INFLUENCING THE DEVELOPMENT OF ACCOUNTING AROUND THE WORLD

FACTORS INFLUENCING THE DEVELOPMENT OF ACCOUNTING AROUND THE WORLD - раздел Образование, МЕТОДИЧЕСКИЕ РЕКОМЕНДАЦИИ Сборник текстов и заданий для самостоятельной работы Курганский филиал ...

One of the problems that Daimler-Benz faces is that accounting systems vary around the world. This means that financial statements in France, for example, do not look the same as financial statements in the United States. Some observers argue that this is a minor matter, based in form rather than substance. In fact, however, the substance is also different, such as in Peru, where consolidation of related companies is not allowed; in Sweden, where significant inventory write-downs are allowed; and in France and Germany, where tax accounting and book accounting are essentially the same. These variations put the MNE in a difficult position because it needs to prepare and understand reports generated according to the local accounting standards as well as prepare financial statements consistent with generally accepted accounting principles (GAAP)in the home country in order to generate consolidated financial statements.

Accounting Objectives

Accounting is basically a process of identifying, recording, and interpreting economic events, and its goals and purposes should be clearly stated in the objectives of any accounting system. The Financial Accounting Standards Board (FASB)in the United States stated that financial reporting should provide information useful in: (1) investment and credit decisions; (2) assessments of cash-flow prospects; and (3) evaluating enterprise resources, claims to those resources, and changes in them.² The users identified by the board are primarily investors and creditors, although other users might be considered important. The International Accounting Standards Committee (IASC),a multinational standard-setting organization comprised of professional accounting organizations from over 40 countries, includes employees as well as investors and creditors as the critical users. Also named are suppliers, customers, regulatory and taxing authorities, and many others.

Although the question has been discussed widely, there has been no consensus on whether a uniform set of accounting standards and practices exists for all classes of users worldwide or even for one class of users. To understand the different accounting principles and how they affect the MNEs' operations, we must examine some of the forces leading to the development of accounting principles internationally. Figure 19.4 shows these major factors. The top four factors deal with the nature of the enterprise and the direct users of information. The bottom four represent other major factors that affect accounting objectives, standards, and practices.

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Курган – 2009
МЕТОДИЧЕСКИЕ РЕКОМЕНДАЦИИ «Сборник текстов и заданий для самостоятельной работы» (для студентов всех специальностей заочной формы обучения) /Академия труда и социальных отношений. – Курган,

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