by University of Glasgow, School of Financial Studies in Glasgow .
Written in English
|Series||Research working papers / University of Glasgow, School of Financial Studies -- 85-8, Research working papers (University of Glasgow. School of Financial Studies) -- 85-8.|
|Contributions||University of Glasgow. School of Financial Studies.|
The theme of transitional and developing economies struggling with the introduction and implementation of international accounting standards is evident throughout the papers. While current events often seem to outstrip our ability to keep up, these papers provide insights into current events in the adoption and application of the international accounting Edition: 1. The aim of this paper is to identify what role accounting information systems (AIS) play in developing countries at present. This paper continues this argument by reviewing studies of accounting systems in developing countries, with an emphasis on the importance of accounting education and the accounting profession. ACCOUNTING IN DEVELOPING COUNTRIES | Most of my current efforts are, with colleagues, writing up papers on researches on accounting reforms in developing countries. Increasing harmonization and complexity in accounting standards tends to facilitate expansion of large international accounting firms at the expense of local firms in both developing (Choi and Mueller, , Radebaugh et al., , Salter and .
As an added value, the book include several chapters that should be viewed as educational tools for countries that do not have financial and technical resources to establish their own accounting and reporting standards. So, it is of critical importance for such countries to have a model to use for their financial reporting standards, and as such, the book includes research papers that explain how to adopt international financial reporting standards in such countries. As a source of globally comparable information, IFRS Standards are also of vital importance to regulators around the world. And IFRS Standards contribute to economic efficiency by helping investors to identify opportunities and risks across the world, thus improving capital allocation. For businesses, the use of a single, trusted accounting language lowers the cost of capital and reduces international reporting costs. The International Accounting Standards Board sets accounting standards across the globe. Unlike country-specific standards such as the Unites States' GAAP (generally accepted accounting principles), international standards have no governing authority to enforce them, making them purely voluntary. Existing international standards carry a number of distinct benefits to participants, and they serve as an early template for future globally regulated and enforced standards. ABSTRACT GAAP or Generally Accepted Accounting Principles are the standard framework of guidelines for financial accounting used in financial management. The purpose of GAAP is to ensure that financial reporting is transparent and consistent from one.
It is also submitted here that the relevance of the IASC standards to developing countries is most likely to be boosted by (1) the growing commonality of worldwide economic conditions, in particular, the steps being taken by (former) communistic developing countries and (former) communist countries to move away from communistic to capitalistic economies; (2) the growing interdependence of countries. An additional importance is that the international accounting standards lend protection to companies against malpractice. Therefore, investors along with the various stakeholders will be able to interpret and compare financial statements of other companies. This helps companies to . International Accounting Standards by developed and industrialized countries around the world, less attention has been given to developing countries. Virtually, no articles and books about the adoption of accounting standards by developing countries and in particular Ghana exist (Zeghal and Mhedhbi, ). Moreover, the few that are in. Thus, adherence to international standards, such as those developed by the International Accounting Stand- ards Board (IASB) and the International Auditing and Assurance Standards Board (IAASB), can ultimately lead to greater economic expansion. Support for International Convergence.