International Accounting International Accounting A User Perspective by Shahrokh M. Saudagaran
Chapter 1 FINANCIAL REPORTING IN THE GLOBAL ARENA
Learning Objectives 1. Identify the main environmental variables that shape accounting 2. Recognize the differing role of accounting in countries
Learning Objectives 3. Demonstrate the economic effects of accounting diversity 4. Appreciate the benefits of classifying countries into accounting cluster
Chapter Outline I. Introduction II. Interaction between Accounting and its Environment (1) Nature of Capital Markets
II. Interaction between Accounting and its Environment (2) Type of Reporting Regime (3) Type of Business Entities (4) Type of Legal System
II. Interaction between Accounting and its Environment (5) Level of Enforcement of Regulation (6) Level of Inflation (7) Political and Economic Ties
II. Interaction between Accounting and its Environment (8) Status of the Accounting Profession (9) Existence of a Conceptual Framework
II. Interaction between Accounting and its Environment (10) Quality of Accounting Education
III. Diverse Roles of Accounting in Countries (1) Policy Choices in Accounting IV. Effects of Diversity on Capital Markets
V. Classifications of Financial Accounting and Reporting Systems (1) Review of Selected Classification Studies
VI. Major Challenges Facing Accounting Globally (1) Global Harmonization (2) Financial Reporting in Emerging Economies
VI. Major Challenges Facing Accounting Globally (3)Social and Environmental Reporting (4) Financial Reporting in the High Technology Era