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Essay / Research Paper Abstract
This 10 page paper looks at the benefits and difficulties for the adoption of international accounting standards where there is already a strong accounting regime in place. The paper discusses the way general changes may be needed and considers the reasons for international accounting standards. The bibliography cites 10 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEAUIAFS.rtf
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Unformatted sample text from the term paper:
behind the harmonization of accounting standards in an international arena may be argued as essential in an environment of international investment and trade, where different standards exist, but it may
also be argued there are negative impacts, not only the cost but the uncertainty that may surround the development of more regulations that are adopted into the standards of the
national boards, even though they do not set them and the potential for firms to suffer adverse impacts on the way that their accounts are presented.
The support given towards international accounting standards has been argued as a common sense approach; good for business and investors, and has even been criticized in
terms if the way the International Accounting Standards Board (IASB) is not accountable due to the lack of political control (Hargreaves and Tricks, 2004). However, this separation between politics and
accounting may not be as clear as this criticism indicates and the development of international accounting standard may be seen as politically as well as commercial driven.
There are many bodies that agree with the need for a single standard to be adopted internationally. AASB along with many other national accounting boards
all see it as necessary for international co-operation and understanding that financial reports can be seen as based on the same set of criteria, no matter what country the company
is in. These may be independent, but will all have links with their national government at some level. The common sense issue
may be argued as helping create a degree of uniformity for business decisions. It may be argued that the movement towards international standards became inevitable with the convergence of investors
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