Analysis of the application of biblical ethics to international accounting
ACC 418 Accounting Ethics
Yue Dai
Abstract
This paper discusses various cultural aspects that have influenced accounting in different countries. Accounting purposes have also changed over time. Religion is more than a belief, it involves unique practices and perspectives in accounting. Next we will discuss how these cultural differences will impact the two accounting standards. Last, this paper will talk about the contemporaty trend of accounting standards ad how China will face the change.
Key terms: Accounting purposed, bilical ethics, international accounting, culture differences, religions.
Thesis Some people say that accounting
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Draw me up an account of your stewardship.” This suggests that the master should have insisted on periodic accounting reports to detect the problem with the steward earlier. It also indicates that accounting is a powerul tool to monitor and control performances. Accounting also serves the purpose of resolving possible conflicts between parties. Accounting ensures that debtors and creditors agree on the amounts due and that partners and other owners know their share of the earnings. The Bible indicates it in Ecclesiasticus 4:1-2, “These are things you should not be ashamed of—keeping strict accounts with a traveling companion.” The idea here is that these accounts will reduce conflicts between the travelers.
The Bible provides evidence in the way of describing how to account for transactions, that is, a particular accounting system is required. Ecclesiasticus 14:7 states that:“Whatever stores you issue do it by number and weight, spending and taking put everything in writing.”This clearly indicates a need for using a perpetual inventory system. In addition, it may be interpreted as a requirement for all revenue and expenses be accounted and maintained as debits and credits in
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In traditional eastern culture, people live in a more collectivism emphasized culture, which is a “tightly knit” community, where everyone bond closely together within their groups. They share happiness together and would suffer mutual loss when something bad happens. They are not focused on themselves but the benefit of the whole group in their daily thougts and decision making. While individualism, on the contrary, is “loosely knit”, where each member of society is mainly interested in his or her self’s interest. Individualistic cultures, often found in western culture, are focused on personal achievements and they tend to trust themselves
I never even thought about this word “individualism” before I came to America. Instead of collective, normal is the way I considered as my culture, and for American culture, I would say they are selfish and unkindly sometimes back then. However, after my 2-year study here and all the research I’ve been read for this paper, now I say that neither individualism nor collectivism is purely bad or good.
Management accounting in organisation is very important for decision-making and to make the business more efficient and therefore increasing its profits. Is the process of preparing accounts that can help managers to make day-to-day and short-term decisions, by providing them with accurate and timely key financial and statistical information...
Since these traditions have become apparent through centuries they are customary and have a tendency to lack individualism, as the group among which a person lives is seen as more important over the individual. In many parts of the world today, you can examine such cultures and see the ways that individuals offer themselves to family and community life.
A culture’s tendency to be individualistic or collectivistic can be found at the root of
Accounting is “a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information” (Accounting, n.d.). Financial information mentioned above includes any financial transactions done by the business. There are two types of accounting. The first one is accrual accounting, which realizes transactions at the time they occur and disregards whether or not cash transaction has occurred. This method is widely used in business, because it allows transactions to be completed over time and distance. Financial statements produced by accrual accounting reflect a sophisticated trade and a much more accurate snapshot of the business’ current situation. The opposite of accrual accounting is cash accounting, in which transactions are realized only when cash payment is made or received. This is the method used in personal finance.
(1994). Beyond Individualism/Collectivism: New Cultural Dimensions of Values. In U.Kim, H.C. Triandis, C. Kagitcibasi, S. Choi & G. Yoon (Eds.). Individualism and Collectivism: Theory, Method, and Applications. Thousand Oaks, CA: Sage, pp. 112-115.
“Individualistic cultures, in the western-hemisphere, [such as the United States,] emphasize… personal identity and self-determination. Conformity is far less pervasive in individualistic societies because democratic choices and laissez-faire viewpoints are somewhat considered.”
There is considerable evidence for the links between Western societies and individualism and between Eastern cultures and collectivism (Heinrich, Heine & Norenzayan, 2010). Triandis, McCusker & Hui (1990) found that members of Eastern cultures perceive their in-group as more homogenous than the out-group, compared to members of Western cultures. Furthermore, they found that members of Eastern cultures value the well being of the in-group over their personal goals, whilst members of Western cultures typically value the individuals welfare and goals over the well being of their in-group. Examples of Western cultures that have been found to have high levels of individualism are Germany (Darwish & Huber, 2003), the US (Kim & Markus, 1999), Norway (Birkelund, 2000; Syverstad, 2009), Australia, Great Britain and France (Hosfstede, 1980).
Accounting has been a living part of history since the Neolithic period and remains a prevalent and ever-evolving profession still to this day. This essay therefore proposes to look at the significance and role of history specifically related to the accountancy field. In order to substantiate this claim of the importance of accounting history, numerous benefits of accounting history will be presented. Factors such as the use of historical research and its availability thereof to constantly develop accounting policies will be discussed as well as how historical accounting practices can be used to understand current practice and assist in the training of individuals in the accounting field. Lastly, the importance of history in the development
Some cultures encourage individualism while other cultures encourage collectivism. In most collectivist cultures, people are interdependent within their group, whether it involves family, tribe, or nation (Suh ...
Accounting dates back as far as first centuries, is the language of business. As everything has gone through many changes, accounting has also changed many times through out the centuries. It went from the use of abacus to the most advanced softwares, and computers. With these drastic improvements nowadays accounting, financial accounting and management are facing big challenges. From the presentation of the reports to communication to the users, investors, and owners, the accounting field has gained totally a new shape from two decades ago. Today with the dynamic change in every aspect of life, the accounting field has to act fast and be able to adapt these new changes and challenges in order to survive.
Accounting aids the government and organisations in decision making for their financial stability. This numerical data helps solve real life problems and contributes to how the economy and businesses perform.
Accounting is so important in our modern society. It serves a variety range of place in our society. It serves a variety range of place in our soceity, from school to hospital, from business firm to government agencies. It's also the main force in regulation of taxation and industrial activity. It serves a great aspects on the development of mass-production systems, any way, it's a very important term in our modern soceity.
Culture can also shape individuals’ development of self, which also influence their behaviors. According to Smith (2014) an individual from Western cultures tend to develop independent self-construal which he or she tends to “strive for self-expression, uniqueness and self-actualization, acting autonomously based on his/her own thoughts and feelings, and pursuing his/her own goals” (p. 160). In contrast, an individual from East Asia tends to acquire interdependent self-construal where he or she tends to view “the self as closely connected to the social context” which he or she strive “to fit in and maintain harmony with relevant others, basing their actions and expectations and social norms” (Smith, 2014, p. 160). The different types of self-construal give rise
The following essay aims to analyse in depth a computerised accounting system and its aspects such as its history, what technologies is based on, and how it has developed since its beginning. Other aspects such as the current state of the system and the interactions with other systems and the future of the system will also be covered in this paper.