Warning: Use of undefined constant referer - assumed 'referer' (this will throw an Error in a future version of PHP) in /usr/home/essaywo/public_html/essays on line 102

Warning: Use of undefined constant host - assumed 'host' (this will throw an Error in a future version of PHP) in /usr/home/essaywo/public_html/essays on line 105

Warning: Cannot modify header information - headers already sent by (output started at /usr/home/essaywo/public_html/essays:102) in /usr/home/essaywo/public_html/essays on line 106

Warning: Cannot modify header information - headers already sent by (output started at /usr/home/essaywo/public_html/essays:102) in /usr/home/essaywo/public_html/essays on line 109
Internationalization Of Accounting Standards For Consolidation - Japan: A Case Study - Online Essay

Internationalization Of Accounting Standards For Consolidation - Japan: A Case Study


Internationalization of Accounting Standards for Consolidation - Japan: A Case
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 ...

Want to read the rest of this paper?
Join Essayworld today to view this entire essay
and over 50,000 other term papers

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 ...

Get instant access to over 50,000 essays.
Write better papers. Get better grades.


Already a member? Login

is important because
capital market pressures are then brought to bear most strongly to improve the
quality of information available. The absence of detailed codes leaves
flexibility to respond to pressures. The United States, the United Kingdom,
Australia and the Netherlands are examples of countries in this category (AAA,
1995).

US consolidation policy begins with a definition of control. It is based on the
simple legal concept that the majority shareholder controls a company and that
even without a majority, a stockholder can exert significant influence. Thus,
consolidated financial statements reflect the financial position and results of
the firm as well as all subsidiaries ...

Succeed in your coursework without stepping into a library.
Get access to a growing library of notes, book reports,
and research papers in 2 minutes or less.


CITE THIS PAGE:

Internationalization Of Accounting Standards For Consolidation - Japan: A Case Study. (2008, October 17). Retrieved March 28, 2024, from http://www.essayworld.com/essays/Internationalization-Accounting-Standards-Consolidation-Japan-Case/91569
"Internationalization Of Accounting Standards For Consolidation - Japan: A Case Study." Essayworld.com. Essayworld.com, 17 Oct. 2008. Web. 28 Mar. 2024. <http://www.essayworld.com/essays/Internationalization-Accounting-Standards-Consolidation-Japan-Case/91569>
"Internationalization Of Accounting Standards For Consolidation - Japan: A Case Study." Essayworld.com. October 17, 2008. Accessed March 28, 2024. http://www.essayworld.com/essays/Internationalization-Accounting-Standards-Consolidation-Japan-Case/91569.
"Internationalization Of Accounting Standards For Consolidation - Japan: A Case Study." Essayworld.com. October 17, 2008. Accessed March 28, 2024. http://www.essayworld.com/essays/Internationalization-Accounting-Standards-Consolidation-Japan-Case/91569.
JOIN NOW
Join today and get instant access to this and 50,000+ other essays


PAPER DETAILS
Added: 10/17/2008 07:41:55 AM
Category: Economics
Type: Free Paper
Words: 2165
Pages: 8

Save | Report

SHARE THIS PAPER

SAVED ESSAYS
Save and find your favorite essays easier

SIMILAR ESSAYS
» A Review Of The "Ballet Gran Fo...
» Brave New World
» Curfews Should Be Established A...
» Atwoods Theory Of Canadian Sho
» Visual Analysis of Warhol Andy,...
» Respect And Responsibility
» Successful Global Marketing by ...
» John Steinbeck
» Frankenstein
» Character Study: Local Resident...
Copyright | Cancel | Contact Us

Copyright © 2024 Essayworld. All rights reserved