International Accounting Standards Essay Example | Topics and Well Written Essays - 4000 words - 1

International Accounting Standards - Essay Example When comparing its financial position and results of operations for the last year or years, competitors located in the same country like the United Kingdom can be easily compared and contrasted. A little difficulty arises when the financial statements of competing companies are compared and one company is located in the United Kingdom and the other stiff competitors are located in other countries like the United States, Japan, Canada, Brazil, China, India etc. They say that accounting is the language of business. Just as misinterpretation could be eliminated if people from Germany and Spain understand each other, misunderstandings and variances in the interpretation of the balance sheet and income statement are due to the different financial statement standards and methods of reporting which includes costing, billing and cost distributions. One major problem is that each country has researched and approved own generally accepted accounting principles individually. Generally Accepted Accounting Principles (GAAP) are the widely accepted set of rules, conventions, standards, and procedures that are used for reporting financial information which are researched and established by the Financial Accounting Standards Board of each country. (Sanella, 1991) One example of a generally accepted accounting principle is the United Kingdom's generally accepted accounting principle as to when to record a transaction as cash or receivable or another accounting data.Another problem is that the individual financial data ( Belkaoui, 1999) reported in the financial statements are cash inflows and cash outflows that are inherent and unique to each country. For example, average daily salary paid for the factory worker in competing companies will have a big disparity because salaries of production personnel in third world countries like India are estimated to be ten times lower than the average daily wage of a production worker in the Great Britain or Germany.Another problem is that the modes of transporting the goods in India or Brazil is not as advanced or fast as the mode of transportation in the United Kingdom or the United States.As of this time, there is no one size fit all when it comes to global accounting standards. In relation to this topi c, The European Union which is a conglomeration of individual independent states in Europe, including the United Kingdom, has come up with the European Court of Justice that gives decisions on cases within the European Union community even though each country has its own courts of law.The Tax consultants, accountants and financial statement analysts are at odds when comparing electricity, salary, rent, asset amortization and depreciation, assignment of values to assets between countries. We know that the standard of living in London is very much higher than the standard of living in China.Each accountant, financial stateme

What Problems do UEL Student Expect to have in their Future Essay

What Problems do UEL Student Expect to have in their Future Professional Careers and what are their plan to over come it - Essay Example It will gather data from UEL student and analyse it in more depth. The above question analyses two parts of the research. The first part analyses the data generated from the small scale. The second part includes a personal development plan showing how and to what extent studying for the degree has been beneficial to me as a student. The reason for this is because by being in the corporate market students will be capable to link their responsibilities at work with what they will be learn during their degree course. Today’s technology is significantly changing the way Universities teach and how students learn. There are great possibilities for the academic institutions with change in equipping graduates in competing in knowledge economy. Witte &Steijn (245–264.) describes that; students who want to do Master studies should have work experience before doing so. Dale et al.(1998) shows the other reason is that working before taking on degree builds student’s self con fidence and determination for them to take up the studies in order to improve their working skills. In certain areas of work, using a more practical approach and having acquired work experience enables one to have a competitive edge in the job market. Andrea (2010) shows having a working experience is necessary because it is true that some skills may never be taught in a classroom but are acquired though working experience. Methodology In my research I have decided to choose interview and questionnaire. Questionnaires method is one of the most popular concepts of conducting research because it’s easily filled and straightforward. However interview is more complex to analysis as it’s challenging to code and produce graph and chart to display the results. This type of method focuses on conversation between both the interviewee and the interviewer. (Rosemary 2009) quantitative questionnaire and qualitative interview research are the selected data collection methods. The d ifference between both methods is information to be collected in-depth and the other generated statistics. The questionnaire was simple and it started with few closed questions. The questionnaire was designed in a simplistic fashion. It consists of multiple questions in order to reflect the main aspects, which are; retrieving the demographics and the prospect of student aspect, the problems student would encounter in the future and finally plans and measures student would undertake to improve the chance of employability and reduce risks. The questionnaire was given out to student in my seminar and also in the library of UEL. To analyse the data gathered from the questionnaire will be coded and inputted into Microsoft Excel (Kothari 2001). Consequently the data will be integrated into graphs, tables and charts in order to assess and compare against each other. Interview was conducted after the quantitative data collection in order to gain more qualitative insight the issue. The inter view process was subjected to trial to prevent any issue up rising. In order to exclude this, a passive interview method was executed. One to one method of research will be conducted where both interview and the interviewee exclusively focus on the topic being researched (Kahn and Cannel, 1957). The interview was conducted at the same manner as the questionnaire. The reason for using this method is because it’s informal, it also takes less time to process data and it is flexible to use. Holliday (2007) puts it that this method is also effective as there is no moderation or control of data collection environment. Interview is also effective as it provided interactive features if the interviewer had appropriate technology. Personal interaction with the respondent is also beneficial as they feel more relaxed and candid to

What Problems do UEL Student Expect to have in their Future Essay

What Problems do UEL Student Expect to have in their Future Professional Careers and what are their plan to over come it - Essay Example It will gather data from UEL student and analyse it in more depth. The above question analyses two parts of the research. The first part analyses the data generated from the small scale. The second part includes a personal development plan showing how and to what extent studying for the degree has been beneficial to me as a student. The reason for this is because by being in the corporate market students will be capable to link their responsibilities at work with what they will be learn during their degree course. Today’s technology is significantly changing the way Universities teach and how students learn. There are great possibilities for the academic institutions with change in equipping graduates in competing in knowledge economy. Witte &Steijn (245–264.) describes that; students who want to do Master studies should have work experience before doing so. Dale et al.(1998) shows the other reason is that working before taking on degree builds student’s self con fidence and determination for them to take up the studies in order to improve their working skills. In certain areas of work, using a more practical approach and having acquired work experience enables one to have a competitive edge in the job market. Andrea (2010) shows having a working experience is necessary because it is true that some skills may never be taught in a classroom but are acquired though working experience. Methodology In my research I have decided to choose interview and questionnaire. Questionnaires method is one of the most popular concepts of conducting research because it’s easily filled and straightforward. However interview is more complex to analysis as it’s challenging to code and produce graph and chart to display the results. This type of method focuses on conversation between both the interviewee and the interviewer. (Rosemary 2009) quantitative questionnaire and qualitative interview research are the selected data collection methods. The d ifference between both methods is information to be collected in-depth and the other generated statistics. The questionnaire was simple and it started with few closed questions. The questionnaire was designed in a simplistic fashion. It consists of multiple questions in order to reflect the main aspects, which are; retrieving the demographics and the prospect of student aspect, the problems student would encounter in the future and finally plans and measures student would undertake to improve the chance of employability and reduce risks. The questionnaire was given out to student in my seminar and also in the library of UEL. To analyse the data gathered from the questionnaire will be coded and inputted into Microsoft Excel (Kothari 2001). Consequently the data will be integrated into graphs, tables and charts in order to assess and compare against each other. Interview was conducted after the quantitative data collection in order to gain more qualitative insight the issue. The inter view process was subjected to trial to prevent any issue up rising. In order to exclude this, a passive interview method was executed. One to one method of research will be conducted where both interview and the interviewee exclusively focus on the topic being researched (Kahn and Cannel, 1957). The interview was conducted at the same manner as the questionnaire. The reason for using this method is because it’s informal, it also takes less time to process data and it is flexible to use. Holliday (2007) puts it that this method is also effective as there is no moderation or control of data collection environment. Interview is also effective as it provided interactive features if the interviewer had appropriate technology. Personal interaction with the respondent is also beneficial as they feel more relaxed and candid to

What Problems do UEL Student Expect to have in their Future Essay

What Problems do UEL Student Expect to have in their Future Professional Careers and what are their plan to over come it - Essay Example It will gather data from UEL student and analyse it in more depth. The above question analyses two parts of the research. The first part analyses the data generated from the small scale. The second part includes a personal development plan showing how and to what extent studying for the degree has been beneficial to me as a student. The reason for this is because by being in the corporate market students will be capable to link their responsibilities at work with what they will be learn during their degree course. Today’s technology is significantly changing the way Universities teach and how students learn. There are great possibilities for the academic institutions with change in equipping graduates in competing in knowledge economy. Witte &Steijn (245–264.) describes that; students who want to do Master studies should have work experience before doing so. Dale et al.(1998) shows the other reason is that working before taking on degree builds student’s self con fidence and determination for them to take up the studies in order to improve their working skills. In certain areas of work, using a more practical approach and having acquired work experience enables one to have a competitive edge in the job market. Andrea (2010) shows having a working experience is necessary because it is true that some skills may never be taught in a classroom but are acquired though working experience. Methodology In my research I have decided to choose interview and questionnaire. Questionnaires method is one of the most popular concepts of conducting research because it’s easily filled and straightforward. However interview is more complex to analysis as it’s challenging to code and produce graph and chart to display the results. This type of method focuses on conversation between both the interviewee and the interviewer. (Rosemary 2009) quantitative questionnaire and qualitative interview research are the selected data collection methods. The d ifference between both methods is information to be collected in-depth and the other generated statistics. The questionnaire was simple and it started with few closed questions. The questionnaire was designed in a simplistic fashion. It consists of multiple questions in order to reflect the main aspects, which are; retrieving the demographics and the prospect of student aspect, the problems student would encounter in the future and finally plans and measures student would undertake to improve the chance of employability and reduce risks. The questionnaire was given out to student in my seminar and also in the library of UEL. To analyse the data gathered from the questionnaire will be coded and inputted into Microsoft Excel (Kothari 2001). Consequently the data will be integrated into graphs, tables and charts in order to assess and compare against each other. Interview was conducted after the quantitative data collection in order to gain more qualitative insight the issue. The inter view process was subjected to trial to prevent any issue up rising. In order to exclude this, a passive interview method was executed. One to one method of research will be conducted where both interview and the interviewee exclusively focus on the topic being researched (Kahn and Cannel, 1957). The interview was conducted at the same manner as the questionnaire. The reason for using this method is because it’s informal, it also takes less time to process data and it is flexible to use. Holliday (2007) puts it that this method is also effective as there is no moderation or control of data collection environment. Interview is also effective as it provided interactive features if the interviewer had appropriate technology. Personal interaction with the respondent is also beneficial as they feel more relaxed and candid to