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Final Report/Reflective Journal - Essay Example

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From the portfolio work I have learnt that the integrated reporting plays an important role in assisting the accountants all over the world…
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Final Report/Reflective Journal
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Download file to see previous pages The accounting research is compared with cancer since the research and development of both these aspects requires cost and time. But increasing research and development in both of these areas contributes significantly towards the improvement in the respective areas.
The development of the accounting standard will help me in pursuing the course of accounting. The increasing demand signifies that there is a wide scope for accounting profession in all organization across the world. Since the job of an accounting professional is challenging. Therefore I have to focus on both accounting and technical skill in order to adapt with the changes in the accounting standards with the due course of time. There are various firms which provide internship to the future accounting professionals therefore I can pursue training from such firms for increasing my accounting expertise. I can apply these accounting standards in all fields.
The paper emphasizes on the role of accounting professionals in the application of accounting standards. The accounting standards play an important role in minimizing the limitations of the accounting practices adopted by different countries across the world. The International Financial Reporting Standard is considered as the base of accounting which is required to be implemented by the accountant across the world. It is considered as the accounting language for the business so that the company accounts are comparable and understandable across the international boundaries.
The accounting professionals play an important and crucial role in improving the social, financial and environmental performance of the organization. The accounting professional is required to discharge its duties by considering the social, economic, political, environmental and technological factors.
The Australian Securities and Investment Commission are engaged ...Download file to see next pagesRead More
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