BBIA 4103 INTERNATIONAL ACTG
< OUM BUSINESS SCHOOL >
< JANUARI / 2015 >
<BBIA 4103 >
< INTERNATIONAL ACCOUNTING >
MATRICULATION NO : <850702075308-001>
IDENTITY CARD NO. : <850702075308>
TELEPHONE NO. : <0172185308>
E-MAIL : <dacutegal85@gmail.com>
LEARNING CENTRE : <PETALING JAYA>
TABLE OF CONTENTS
INTRODUCTION
THE NEEDS, ADVANTAGES, DISADVANTAGES AND BARRIERS OF INTERNATIONAL HARMONISATION
PROGRESS OF HARMONISATION OF ACCOUNTING STANDARDS IN ASEAN COUNTRIES
SUMMARY
REFERENCES
1. INTRODUCTION
International accounting harmonisation is defined as “the attempt to bring together different systems. It is the process of blending and combining various practices into an orderly structure which produces a synergistic result” (Samuels & Piper, 1985, pp 56-7). This harmonisation is seen as a means of facilitating the globalization of capital markets by enhancing investor’s ability to make informed decisions regarding investment alternatives. Any subsequent reduction in information asymmetry between preparers and users should be reflected in a lower cost of capital (Baiman & Verrecchia 1996). Based on research, accounting harmonisation may be characterised as either qualitative or empirical. Qualitative research has typically focussed on the perceived merits of harmonisation and its implications for standard setters. For example, the role to increase transparency in promoting financial stability and provide specific recommendations on policy making and enforcement for effective operation of financial markets. On the other hand, empirical research are studies on the accounting standards and other regulation, that is, de jure harmonisation, and studies in analysing the accounting practices of corporations within a given regulatory framework, namely, de facto harmonisation.
In the business globalization, it is a trend that harmonization in International Accounting has increasingly become important for the economic success.
< JANUARI / 2015 >
<BBIA 4103 >
< INTERNATIONAL ACCOUNTING >
MATRICULATION NO : <850702075308-001>
IDENTITY CARD NO. : <850702075308>
TELEPHONE NO. : <0172185308>
E-MAIL : <dacutegal85@gmail.com>
LEARNING CENTRE : <PETALING JAYA>
TABLE OF CONTENTS
INTRODUCTION
THE NEEDS, ADVANTAGES, DISADVANTAGES AND BARRIERS OF INTERNATIONAL HARMONISATION
PROGRESS OF HARMONISATION OF ACCOUNTING STANDARDS IN ASEAN COUNTRIES
SUMMARY
REFERENCES
1. INTRODUCTION
International accounting harmonisation is defined as “the attempt to bring together different systems. It is the process of blending and combining various practices into an orderly structure which produces a synergistic result” (Samuels & Piper, 1985, pp 56-7). This harmonisation is seen as a means of facilitating the globalization of capital markets by enhancing investor’s ability to make informed decisions regarding investment alternatives. Any subsequent reduction in information asymmetry between preparers and users should be reflected in a lower cost of capital (Baiman & Verrecchia 1996). Based on research, accounting harmonisation may be characterised as either qualitative or empirical. Qualitative research has typically focussed on the perceived merits of harmonisation and its implications for standard setters. For example, the role to increase transparency in promoting financial stability and provide specific recommendations on policy making and enforcement for effective operation of financial markets. On the other hand, empirical research are studies on the accounting standards and other regulation, that is, de jure harmonisation, and studies in analysing the accounting practices of corporations within a given regulatory framework, namely, de facto harmonisation.
In the business globalization, it is a trend that harmonization in International Accounting has increasingly become important for the economic success.
References: Author’s name (year). Book, Title, Publication