Obstacles to International Accounting Standards


Importance of having converging and comparable global accounting system


SKU: Repo958900

Subject: Financial Accounting IIA (ACCY200)

Details: Topic: Obstacles to International Accounting Standards

Significant progress has been made since the beginning of this century to achieve one of the objectives of the reconstituted IASB to bring about convergence of national accounting standards and International Accounting Standards.

However, there still exists differences in accounting rules and practice between countries. This made comparability and convergence of worldwide financial reporting difficult. Such differences can be attributed to culture, economic and legal factors.

Discuss whether you agree with the above statement by referring to the following articles uploaded in Moodle:

1. Stephen A Zeff (2007)Some obstacles to global financial reporting comparability and convergence at a high level of quality”,The British Accounting Review, Volume 39 (2007),

2. Noll, Brian, (2013), “Does Culture Still Influence Accounting Judgments Post-IFRS? A Discussion and Proposal for Research”, Northeast Business & Economics Association Proceedings, 2013.[See also the Key References in subject outline].

You must provide an informed (ie, researched) opinion by reading and incorporating both authors above and others (see other requirements below).

Other Requirements:

You must collect and use/cite at a minimum 10 references. They must be:

• at least 4 academic journal articles (one of these must be Stephen A Zeff,2007)

• at least 6 of any other source (one of these must be Noll, 2013)

You cannot use Wikipedia, textbooks (this includes Leo et al 2015), lecture notes, essays online, and websites of a similar nature



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