Four Internaional Accounting Questions Essay Example | Topics and Well Written Essays - 500 words

Four Internaional Accounting Questions - Essay Example From a creditor’s perspective, they want to be confident that the companies or debt securities their citizens (or the countries themselves) purchase are accurately represented by the published financial statements. 2a. Ever since the onset of modern business and the taxation of corporations, accounting in the US has been rules based. Any major change in the philosophy of accounting will be a challenge. The rules based accounting system dictates exactly how certain transactions should be recorded. The principle based accounting system has few rules. Instead general principles are published and companies are required to ensure their financial statements fairly and accurately represent these principles. I see the main challenge in converting from rules to principles based system will be in the consistency of financial statements. Another challenge will be in educating the investor. Under the principles based system the accountants have much more latitude in the recording of trans actions. For example, depreciation of assets will vary depending on the accountant’s view of useful life.

Personal Managerial Effectiveness - Assignments Essay

Personal Managerial Effectiveness - Assignments - Essay Example urring of boundaries between nations, immigration reforms and the likes, there is a sudden influx of socio-culturally diverse population in the UK, resulting in a highly diverse workplace (Allard, 2002). These changes in the demographic profile of the country have played a key role in the increased significance of workplace diversity and the need for reforms in workplace related laws. Globalization has opened the gates for firms to compete on a global scale. Organizations today are, hence, not only competing on a local or national level but on a much wider global platform. The markets and the demography of a typical consumer have also changed simultaneously. Hence it is imperative for organizations to ensure increased awareness about the need and significance of workplace diversity (Deborah & Smith, 2003). Positive work environment is one of the most coveted aspects of a workplace that promises to foster harmonious working relationships among the employees and greater individual dignity. Considering the benefits offered by a positive and diverse workplace, organisations today are embracing the concept and reaping the benefits offered by a skilled workforce, hired purely on the basis of talent and skills rather than socio-cultural factors. This report on workplace diversity aims to discuss, analyse and explore the concept of workplace diversity, its application, benefits and implications within workplaces in the UK, and the recommendations for improving workplace diversity. The term diversity with regard to workplace refers to differences among employees with regard to a range of factors including age, gender, race, ethnicity, sexual orientation, and /or disability. It is also used with regard to acceptance and respect for the individual differences (Hankin, 2005: p. 67). Daft (2007) defines workplace diversity as "a workforce made of people with different human qualities or who belong to various cultural groups". It is also defined as "differences among people