1125 words essay

Anonymous
timer Asked: Dec 17th, 2018
account_balance_wallet $40

Question Description

😀 Write an essay discussing critically the developments and challenges of financial

reporting in any one of the following countries listed below:

• Switzerland

• Egypt

• Vietnam

• India








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Note: 1. 2. 3. 4. Your “essay” must show a coherent discussion in a good order. You may therefore aim to follow a good structure which should guide your reader. Your discussion should be informative, critical and is evidenced by a good use of literature Please make sure you adhere to these expectations whilst you work on your essay. Your task requires you to discuss the following “themes” (refer the assignment brief): A. Identification of accounting system i.e., nature of accounting system in the country B. Reason(s) for your choice of country to study C. Differences with IFRS i.e., any differences between the accounting standards/system used in the country under review and International Financial Reporting Standards (IFRS) D. Major issues for stakeholders, i.e., whether you believe these differences cause any major issues or concerns from the viewpoint of global investors or stakeholders E. Evaluation of convergence, i.e., whether the current position and any near future changes are likely to lead to issues regarding the country in achieving full convergence with IFRS. The following could be taken as guidance which forms the evaluation scheme: A. Identification of accounting system i.e., nature of accounting system in the country • What type of accounting system prevails in the country? • Why is the accounting system like this? i.e., some history? B. Reason(s) for your choice of country to study • Some example (e.g., traditional, rudimental, modern, and one that may have been influenced by some events/agreements- political, trade, taxation, economic, etc.) that shows a stark or clear difference in the trend with the existing international regime of accounting; • Some economic indicators (GDP, size of market, etc.) could also form part of the above; C. Differences with IFRS i.e., any differences between the accounting standards/system used in the country under review and International Financial Reporting Standards (IFRS) • Identification of some important differences by the way in which some specific but important accounting is undertaken which is clearly different than the IFRS mandate in that respect. For example, accounting for (1) Goodwill; (2) Financial Instruments accounting such as hedge accounting, derivative accounting, (3) long-term biological assets, (4) pensions, (5) revenue recognition, (6) dividend payment, etc; • The identified difference(s) must be able to explain in a clear manner the reason(s); as to why it is the case; D. Major issues for stakeholders, i.e., whether you believe these differences cause any major issues or concerns from the viewpoint of global investors or stakeholders • Who are these stakeholders? Clear identification • Which differences concerns them? Some reasons. E. Evaluation of convergence, i.e., whether the current position and any near future changes are likely to lead to issues regarding the country in achieving full convergence with IFRS. • Based on the discussions, e.g., regulators and other important agencies in the country, how is convergence process taking shape. • Any relevant and or latest news would be helpful here to demonstrate the politics or strategy initiated by the country; how and why? Please note that all the above points i.e., the discussion, must evidence a good use of research literature- i.e., journal articles, regulator discussions, policy discussions, strategic documents, stock market discussions, tax, media etc. Overall, it should show a good synthesis demonstrating a clear course of study. REQUIREMENTS: Write an essay discussing critically the developments and challenges of financial reporting in any one of the following countries listed below: • Switzerland • Egypt • Vietnam • India Your essay must be able to discuss and cover the following important points: 1. The nature of the accounting system used in the country and stating the reasons for your choice in selecting the country for this essay in clear words. 2. Any differences between the accounting standards/system used in the country under review and International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). 3. Whether you believe these differences cause any major issues or concerns from the viewpoint of global investors or stakeholders. 4. Whether the current position, and any near future changes are likely to lead to issues regarding the country in achieving full convergence with IFRS. Marks will be awarded for clarity of language, depth of discussion and research, and quality of content. The essay should not exceed 1,125 words(excluding references/bibliography) ...
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DoctorChristine
School: Boston College

Hello, attached is t...

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Anonymous
awesome work thanks

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