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Essay / Research Paper Abstract
This 36-page paper focuses on the differeing accounting standards between the United Kingdom and Nigeria. The paper discusses many aspects of these two countries, and includes a discussion of management accounting and its meaning as well. Bibliography lists 14 sources.
Page Count:
36 pages (~225 words per page)
File: D0_MTnigeuk.rtf
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Unformatted sample text from the term paper:
- most companies did business within their own countries. Those few multinational corporations in existence were able to integrate into the accounting standards of their host countries.
However, as international business began to grow and capital began flowing across borders, more and more countries found that there was difficulty in trying to
adapt their accounting standards to one another. This presented a problem for multinational corporations that were trying to do business in various countries with different accounting standards. What were seeing
these days, therefore, are many countries attempting to conform their own GAAP with those put forward by International Accounting Standards (IAS). Two
such countries that are attempting to integrate the standards with their own particular in-country standards are Nigeria and the United Kingdom. In this paper, the UK refers to England, Scotland,
Wales and parts of Ireland. Nigeria, in the meantime, is a state in West Africa. There is little doubt that there are
vast differences between these two countries in terms of economic development. For one thing, the UK is a fully developed, industrialized, westernized country. The accounting standards and procedures followed in
the UK are similar to those followed in the United States, with a few exceptions. The UKs management accounting also takes into account the idea of globalization, technology and resources.
If there are any difficulties facing UKs accounting standards, its integration between the local standards and those set forward by the international accounting groups.
Comparing the UK to Nigerian accounting standards is similar to comparing night and day. Nigeria is not a western country, rather, it is a third world developing nation
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