ACC 300 Week 5 Team Assignment - Accounting Reporting Criteria Paper_

May 1st, 2015
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ACC 300 Week 5 Team Assignment - Accounting Reporting Criteria Paper_

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Running head: ACCOUNTING REPORTING CRITERIA PAPERAccounting Reporting Criteria PaperYOUR NAME(S)ACC/300 DATENAME OF PROFESSORAccounting Reporting CriteriaAll publicly traded companies have to correspond to the accounting reporting principles of their respective countries. In the United States, companies have to comply with the standards set forth by the Financial Accounting Standards Board (FASB). Outside of the U.S., business organizations either follow the International Accounting Standards Board (IASB) recommendations or applicable regulations set forth by their governments. The different accounting regulatory bodies may incorporate similar financial codes but they also have several differences. Many companies conducting business globally are in a quandary when converting the criteria set forth by host nations. This piece will concentrate on some of these differences particularly in regulatory environment, issues with foreign currency, and differences in Generally Accepted Accounting Principles (GAAP). To better understand the differences, will compare and contrast two aircraft manufacturing giants, the Boeing Company and Airbus Industrie.Boeing and AirbusBoeing is the worlds largest manufacturer of commercial and military aircraft with customers in more than 90 countries and the largest U.S. exporter in terms of sales (Boeing, 2009). It is headquartered in Chicago, employs more than 158,000 people all over the United States and in 70 countr

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