Get the answer of: Why do Accounting Practices Differ throughout the World? Evidence of Accounting Diversity: Exhibit 11.1 presents the 2005 consolidated balance sheet for Jardine Matheson, a diversified company incorporated in Bermuda with significant holdings in Asia. A quick examination of this statement reveals several format and terminology differences compared with what is usually found in the balance sheets [...]
In this essay we will discuss about:- 1. Introduction to the Accounting Standards of India 2. Establishment of NACAS 3. Deviation from Accounting Standards. Essay # 1. Introduction to the Accounting Standards of India: Accounting standards are the policy documents issued by a recognized expert accountancy body relating to various aspects of measurement, treatment, presentation and disclosure of accounting transactions [...]
In this article we will discuss about the role of corporate management in determination of accounting standards. Corporate managements play a central role in the determination of accounting standards. Corporate management is central to any discussion of financial reporting, whether at the statutory, or regulatory level or at the level of official pronouncements of accounting bodies. Corporate managements influence the [...]