Internationalization of Accounting Standards for Consolidation - Japan: A Case
Study
The purpose of this paper will be to examine problems with internationalization of accounting standards for consolidations on methods from an international perspective - specifically, in the US and Japan. This is an especially timely topic as standardization of financial markets is a prerequisite to international free trade. Given the trends toward greater globalization, the motivations of companies for seeking a uniform accounting system are strong. If companies have to prepare their accounts according to several different sets of rules, in order to communicate with investors in the various capital markets in which they operate or for other national purposes, they incur a considerable cost penalty and feel that money is wasted. This significantly limits global opportunities for multinational businesses. Thus, it is important to understand what the differences are between accounting standards, why they exist, and what problems they pose.
It is worth noting that no one nation has a set of accounting rules which appears to have such clear merits that they deserve adoption by the whole world.
No one country can claim to have a uniquely correct set of rules. The United
States has the longest history of standard setting. It has the largest standard setting organization which is characterized by high standards of professionalism.
But, even the rules of the United States exhibit compromises between different interests of a kind which could have reasonably been decided otherwise.
Furthermore, no unanimity exists among U.S. accountants about the merits of the precise details of the compromises that have been struck. For example, the recent discussion memorandum on consolidation outlines three different methods which are GAAP in the US (Beckman, 1995). No one nation has a clear right, on the basis of existing achievements, to be regarded as predominant in accounting.
A great deal more work is needed by accountants from different countries before we can reach the point of having a well founded basis for uniformity.
People who study differences among systems of accounting rules are inclined to group countries into two categories. On the one hand, there are countries where business finance is provided more by loans than by equity capital, where accounting rules are dominated by taxation considerations and where legal systems customarily incorporate codes with detailed rules for matters such as accounting. The effect of taxation systems can be particularly pervasive. Often, the taxation system effectively offers tax breaks for businesses by allowing generous measurement of expenses and modest measurement of revenues on condition that these measurements are used for general reporting purposes. Companies have strong incentives to take advantage of these taxation concessions as real cash
Include as discussion of the topic, subtopics, sections and subsections in your answer. The new Codification does not change GAAP, but all existing ...
In the late 1800's, as well as the early 1900's, women felt discriminated against by men and by society in general. Men generally held discriminatory and stereotypical views of women. Women had no control over themselves and were perceived to be nothing more than property to men. They were expected to live up to a perfect image that society had created, while trying to comply with their husbands' desires. While many women felt dissatisfied with their lives, they would not come out and say it. However, in 1899, Kate Chopin wrote The Awakening, which showed women that they were not alone. This novel showed the discriminatory views and treatment towards women. It also distinctly indicates the dissatisfaction that women felt in their lives. Because of the roles that society has given them, women are not able to seek and fulfill their own psychological and sexual drives. In The Awakening, Chopin uses Edna Pontellier to show that women do not want to be restricted by the roles that society has placed on them.
The symbols of the Confederacy are not just about supremacy, but also, inextricably, about class. Confederate monuments and flag signify terrorism. They were raised deliberately to send a solid message to all who strolled in their shadows about who was still in control. The majority of African Americans whose descendants were enslaved. There have been many attempts to relocate monuments, remove flags, rename schools, and change the name of various holidays (“Confederate Remembrance 3”). Confederate monuments should be taken down immediately and placed in museums where citizens who support the monuments and the heritage of what happened a long time ago can view them
I agree because people travel or move to another country, they need to abide by its rules. When I first came to American, my aunt told me that it is illegal to eat dogs in here. Her friend went to jail and get the punishments. I was surprised because it was legal to eat dogs in China. Her friend cannot argue or conflict with the officer of the Court to remove penalties because her friends disobey the rules.
The Confederate flag has been a prominent representation of Southern culture and heritage. Particularly, the significance of the Confederate flag in my home state of South Carolina is the symbolic representation of Southern states succeeding from the Union because of ideas by Abraham Lincoln that were not ideal to Southerners. The origin of the Confederate flag was during the Civil War when Confederate regiments could not distinguish the Union battle flag of stars and stripes apart from their own. Throughout the progression of the Civil War as southerners became known as Confederates, they began to distance themselves from symbols of the Union and sought a new symbol that represented their “confirmed independence”. The symbol later became the Confederate battle flag. As stated in the Confederate Battle Flag by John Coski, General John Bell Hood states, “To avoid dangerous confusion in action, each regiment will be required to bear the Confederate battle flag” (Coski 13). Confederate regiments were seeking for uniformity by adopting one battle flag to represent the Confederacy not only on the battlefield, but as a separate nation as well. Following the significant amount of blood shed from the Civil War, the Confederate flag did not shy away during Reconstruction. The flag ties in with southern culture because many southerners believe its representation is of their fallen ancestors who fought during the American Civil
Accounting Theory: Conceptual Issues in a Political and Economic Environment (6th edition ed.). South Western College Pub.
The Awakening is the probably best-known novel by Kate Chopin. It addresses various issues like the differences between Creole and American upper class culture, the role of art, and prominently the role of women. In pre-Civil War North America amongst black antebellum slaves and white payed industrial slaves, all over the country women were limited to certain roles, rituals and realms and could therefore be seen as a third kind of enslaved group by society. Women were seen as “angels of the household” and depended mostly on their husbands in financial matters and as heads of the family. The patriarchal order was predominant. In Kate Chopin’s novel the development of Edna Pontellier is used to depict the emancipation of the woman from an object,
The Confederate Flag is symbolic and represents not only the Southern heritage and pride the people in the South have, but it also represents a part of history in the United States of America. It is not affiliated with slavery and segregation as many believe it to be. The Confederate Flag was a battle flag that was used to distinguish the troops that were carrying the American flag (the Union) and the rebellious Southern states (the confederacy). Recently, due to the shooting in the South Carolina at the church, the debate whether the Confederate Flag should be removed from establishment, particularly in the South, has become a huge issue. Many argue that the Confederate flag brings back horrible memories regarding racism, slavery and white supremacy. While others remember the flag as being a sign of their Southern pride an identity on a cultural stand point that distinct the South from the North, dating as far back as the Civil War where the separation began. The Confederate Flag as we know from readings; is the Battle Flag. It is a flag that
For quite a long time, women have been oppressed and not given fair roles in society. Women, similar to African Americans, used to be thought of as the property of men, such as their fathers and husbands. Women's role in society has only recently been upgraded to a working, intelligent, and respected level with equal rights to men. Even now, in the twentieth century, women battle stereotypes of inferiority to men. The effects of this role women are expected to play were often unseen and brushed over, but occasionally tragically devastating. Within the novel of The Awakening, the audience is let in on the personal life of a woman living in the 1800-1900s, Edna Pontellier, as she makes discoveries about herself and the world as a whole through
My five greatest strengths are: includer, restorative, belief, positivity, and empathy according to the Strengths Finder Survey. I have basically just been myself. I really enjoy making everyone feel that they are special, all God 's children are special. We are all God 's children and we all need to love and support each other. No one is any better than the other, but we can make good choices in life. But we are all the same, with the same choices. If we see someone going through something , as Christians we are suppose to through it with them. Learn to listen, pray and try to give them the best advice that we have to offer. When we are going through something, we must say and believe,but God. He is our strength and refuge. We must always try to look for the good in people. Avoid the negative thoughts. We can change and so can others. When i see people, I can sometimes, see the pain in their faces.I feel the sadness and just want to help. In any way possible. Life is short. We need help anyone around us.to see their
According articles by Ballenger, it is easy for people who are depressed to often take out their anger on others, especially on social media, also known as cyber bullying. A research expert in health scientist studied data of teen victimization rates through cyberbulling. With this he collected data “between 2004 and 2010 via survey studies indicated that lifetime cyberbullying victimization rates ranged from 20.8% to 40.6% and offending rates ranged from 11.5% to 20.1%” (Luxton). The shocking factor behind these rates is this data collection ended in 2010, which means these rates have a strong possibility of growing in time. Another key negative effect social media contributes to teenager is depression. In general “Facebook depression”, or just depression, can occur from spending an abundant amount of time analyzing and wishing for someone else’s life/life style. Most people who suffer depression from social media “are at risk for social isolation and sometimes turn to risky Internet sites and blogs for “help” that may promote substance abuse, unsafe sexual practices, or aggressive or self-destructive behaviors” (Ballenger, 399). Altogether it really is simple for people to get depressed while using a social media platform. The majority of Facebook, or any social media site, users use it as a way to express excitement or life changing events, which
Laurel has to write a letter to a dead person. She chooses Kurt Cobain because of her sister May, who is also dead, loved him. What once was a simple assignment turned into an entire notebook. Laurel informs Kurt and other famous people like Janis Joplin about her daily occurrences. Things like making new friendships that she never thought would exist, finding her first love and heartbreak and experiencing the transition from middle school to high school without the help of her big sister. She also talked about her family 's smaller tragedies within the larger one. Her parents got divorced, and her mother moved all the way across the country. When she first wrote about it, I believed that she shouldn’t forgive her mother for leaving her and her father, but throughout the book, I realized that death affects people in so many different
The International Accounting Standards Board, (IASB), began life as the International Accounting Standards Committee (IASC) in the 1973. The IASC was created in June 1973 as a result of an agreement by the accountancy bodies of Australia, Canada, France, Germany, Japan, Mexico, the Netherlands, the United Kingdom and Ireland and the United States. These countries constituted the Board of IASC at that time.
There simply is no alternate system of laws that can maintain the calm and peaceful environment for people of the world besides “law”. One can easily see the need for each and every nation to enforce its own set of rules. While all of the countries of the world have their own individuality – they all have one considerable feature which is a system of law. It has no significance what type of government is the command, the rules are all appropriate to the people in their community.
Obviously, the influential accounting policy makers like Accounting Standard Board (ASB) find it more beneficial to provide qualitative financial accounting information in guiding economic decisions and thus enhancing social welfare. This in turn prompts them to formulate regulation in the best interest of social welfare encouraging “pro-regulation” perspective. At the same time, some mainstream economists find these regulations stringent and are of opine that it would be in better interest of the business if financial accounting regulations reduced. These economists either represent the “free-market” perspective to argue against financial accounting regulations.