company and government standards that go unseen by the consumer. These issues often change geographically on an enormous scale due to globalization. Sometimes rights and standards can vary and sometimes the issues are much far more complicated than how we perceive them in The United States. In this essay‚ I will be evaluating the standards of labor regarding Nike shoes and sweatshop accusations towards them. I will also compare labor standards of the United States to labor standards of countries overseas
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Globalisation had brought new and common standard for worldwide. The norm‚ consumption attitude‚ believes and personal preference had been made into common. The global process shows fast growing speed make business communication becomes more multicultural. It also leads to complex condition in business. The growing need for cross culture ethic that require more regulations such as equal treatment‚ work safety guarantee and environment friendly policy. Under the globalisation trend‚ economic links
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RESEARCH: Accounting Standard Codification (ASC) 1. FASB had four primary goals in developing the codification. List these four goals: 1. Simplify user access to all authoritative U.S. GAAP by putting them all in one place with codification 2. Assist FASB with the research and international convergence efforts required during the standard-setting process 3. Become the authoritative source of literature for the completed extensible business reporting language (XBRL) taxonomy 4. Clarify that
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Group 3 In your opinion are accounting standards necessary and to what extent? Do you agree with the view that mandatory regulations stifle innovation ? why? Give reasons? * Accounting standards are necessary to promote high quality financial reporting. The fundamental role of accounting is to communicate economic information about businesses and other organization to various stakeholders (government‚ investors‚ shareholders‚ suppliers‚ lenders‚ customers and the general public). * These
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IMPACT OF GLOBALIZATION ON INTERNATIONAL ACCOUTING HARMONIZATION: A CASE OF VIETNAM BY NGUYEN THI PHUONG THAO Graduation Project Submitted to the Department of Business Studies Help University College‚ in Partial Fulfillment of Requirements for The Degree of Bachelor of Business (Accounting) Hons JUNE 2010 ACKNOWLEDGEMENT First and foremost‚ my sincere gratitude is dedicated to my supervisor – Dr. Le Van Lien. Thanks for your strong support‚ guidance‚ intuitive comments‚ and
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IFRS – One World One Accounting Introduction to IFRS Currently‚ more than 100 countries requires or adopt IFRS and it is expected that by 2012‚ more than 150 countries will adopt IFRS. India has also taken the step towards convergence of Indian Accounting Standards with IFRS. This article details the need for harmonization of local GAAP with IFRS‚ challenges for Corporate India etc. 1. Importance of Accounting Standards 2. Accounting Standards Across the world 3. Need of Harmonization
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“After decades of steady growth‚ the number of international adoptions has dropped nearly fifty percent since 2004.”Out of all of the adoptions‚ international adoptions are the most complicated and the most expensive of all (Interlandi web). Over the years‚ international adoption has reduced significantly because of the rising regulations. China and Russia as well as others are extremely strict when it comes down to this‚ the reason being that child trafficking is very high in these countries (Voight
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309 Accounting Standard (AS) 17 (issued 2000) Segment Reporting Contents OBJECTIVE SCOPE DEFINITIONS IDENTIFYING REPORTABLE SEGMENTS Primary and Secondary Segment Reporting Formats Business and Geographical Segments Reportable Segments SEGMENT ACCOUNTING POLICIES DISCLOSURE Primary Reporting Format Secondary Segment Information Illustrative Segment Disclosures Other Disclosures APPENDICES The following Accounting Standards Interpretations (ASIs) relate to AS 17: Revised ASI 20 - Disclosure
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• Case 1-3 Politicalization of Accounting Standards Some accountants have said that politicalization in the development and acceptance of generally accepted accounting principles (i.e.‚ standard setting) is taking place. Some use the term politicalization in a narrow sense to mean the infl uence by governmental agencies‚ particularly the SEC‚ on the development of generally accepted accounting principles. Others use it more broadly to mean the compromising that takes place in bodies responsible
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regime of International Accounting Standards Committee (IASC) in standard setting. The IASC was issuing International Accounting Standards (IAS). So far there were forty one IAS which had been issue before IASB replaced IASC in 2001. As one of the major weaknesses of IASC was that the standards it was issuing contained many objectives thereby defeating the purpose of consistency in recognition‚ measurement and presentation of transactions. IASB intends to limit such choice of accounting treatments
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