Nobody downloaded yet

Global Financial Recession - Literature review Example

Comments (0) Cite this document
 This review attempts to answer whether or not financial reporting really caused the financial crisis, in part or in whole. The review considers that critics have pointed out that accounting rules have brought about the financial recession or have made it worse. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.3% of users find it useful
Global Financial Recession
Read TextPreview

Extract of sample "Global Financial Recession"

Download file to see previous pages Defenders of financial reporting, on the other hand, said that the accounting standards did not cause the crisis; instead, bad credit management and illiquidity were the primary suspects for the financial crisis.
Ignoring everything else, did financial reporting really cause the crisis? Or was it just a convenient scapegoat for those who really caused the crisis? 
Defined by as a “period of general economic decline”, the world has seen higher unemployment rates, sluggish wages and the decline in sales in the retail industry because of this financial recession. It also started a widespread blame game as to what or who caused the crisis. In a poll conducted by Time Magazine, there are said to be 25 people to blame for the crisis, including former US presidents, government officials, regulators, heads of financial institutions and even, the American consumers. In a March 31, 2009 article by, 80% of those who responded on the survey conducted by MarketWatch said the blame should be “on banks and other financial institutions”. Other people say that “economists must bear the blame for recession” (Skidelsky, April 25, 2009) because of their push for deregulation and a free market. Still, others blame accounting rules; particularly the “mark-to-market accounting” (Kestenbaum, Oct. 29, 2008) rule, which when applied to the financial statements caused the financial position of the company to go down.
Is financial reporting the reason behind the current financial crisis or the global financial recession? The straight answer from this writer is NO, financial reporting did not cause the crisis.  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Global Financial Recession Literature review Example | Topics and Well Written Essays - 1750 words”, n.d.)
Global Financial Recession Literature review Example | Topics and Well Written Essays - 1750 words. Retrieved from
(Global Financial Recession Literature Review Example | Topics and Well Written Essays - 1750 Words)
Global Financial Recession Literature Review Example | Topics and Well Written Essays - 1750 Words.
“Global Financial Recession Literature Review Example | Topics and Well Written Essays - 1750 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Global Financial Recession

Recession & tourism industry in London during 2007-2010

...Recession & tourism industry in London during 2007 Business All industries are dependent upon one another, to make up a complete economic unit in a country. This means that negative development in a given industry impacts negatively on other industries and eventually undermines the entire economy. The 2007-2010 global financial recession was a culmination that emanated from inchoate financial policies that were being used to regulate banking, housing and monetary policies but ended up affecting the rest of the economy in the developed world. Eventually, the consequences of these policies would trickle down to the developing economies and the rest of the...
12 Pages(3000 words)Dissertation

Impact of Global Recession

...Impact of Global Recession Introduction The Global Financial Crisis initially started in the United States of America in 2008 and gradually spread all across the world. Initially, there was a failure of financial markets, which led to the recession. Such a recession was experienced for the first time after the Second World War. Various institutions in the financial market had started to fail, which had spiraled a series of event, which led to this whole crisis. On September 2008, Lehman Brothers, one of the largest investment bank in the US failed. This eventually led to lose of confidence and a domino...
11 Pages(2750 words)Essay

Developing leadership and Global Recession

.... According to AusAID(2010)“Those with stronger economies and more financial resources were able to implement effective policy responses to support the economy and weathered the global recession relatively well”. In combating a worldwide threat like global recession, an organization needs to make visible changes in their leadership styles and business strategies. The issue of global recession demands a leader to change his attitude in conducting business in order to be flexible and realistic. Global recession is a serious issue and threatens the financial structure of a company and its profitability. As per Sawan(2008) “A recession normally takes place when consumers lose confidence in the growth of the economy and spend less... leadership,...
5 Pages(1250 words)Essay

Financial Recession

...Census Data Introduction Reflecting the global trend, financial slowdown affects the residents of Kingston upon Thames and London severely. The recession affected those in work, with fewer hours and pay cuts leading to lower pay and potentially to increased poverty. According to the office for national statistics, Kingston upon Thames has healthy enterprise culture, and qualifications and skills levels are high, by both London and national standards. But, both the residents of Kingston upon Thames and London suffered a lot due to financial recession. Recession affects more on household types who are primarily reliant on savings for their...
4 Pages(1000 words)Research Paper

The Global Recession

...again after almost 10 years, causing businesses to shut down in particular those that were unable to generate enough cash flow to supplement their operations in difficult times. This analysis paper examines the factors leading to the present global recession and its impact on the global economy. The financial crisis has overwhelmed the global economy and is being addressed not only on country level but also on a global forum. The capital markets are falling, industrial growth is at decline and economy trends are against the market. However, this situation did not happen all at once and many factors could be identified over the last...
11 Pages(2750 words)Essay

What are some of the gender implications of the current global financial crisis How would a gendered perspective influence responses to the current recession at a global level

.... This led to credit freeze thus limiting investments and consumption leading to insufficient aggregate demand and economic crisis (Seguino, 2009). Governments resorted to bail outs thus cutting expenditure on social services such as; education, health and child care. There were massive job cuts leading to human rights crisis due to mass unrests as a result of economic hardships. This paper is a critique of the gender implications of the crisis and influence of gender perspective on responses to current recession. The Gender Implications of Current Global Financial Crisis The current global financial crisis which has transformed into...
4 Pages(1000 words)Essay

Training during global recession

...TRAINING DURING GLOBAL RECESSION A report on the advisability of reducing training programs during recession Introduction There is currently an unfolding global economic recession that has eroded the confidence of business to pursue its long-term visions and strategies. There is an immediate resort to caution, consolidation, and cost-cutting, the last often pursued as a knee-jerk reaction to the prospects of reduced revenues and unrecouped expenses. Cost centres in companies come under immediate scrutiny, and foremost among these cost centres is the human resources development programmes. Seen as not directly income generating, training and skills...
10 Pages(2500 words)Essay

Global economic and lobal recession

...from recent recession, the fear of operation costs seems to be aggravated by rising fuel and related cost elements. In further developments in the political arena, particularly in the Arab world and North Africa, it is unclear on the actual outcomes of the standoff with direct economic impact being expected. In this discourse, the mixed fortunes of the performance of the industry as presented by economic recovery and political uncertainty will be discussed as Niththyananthan (1) observes. Niththyananthan, Keveri, “Higher Fuel Costs to Hurt Airline Profits,” 3 March 2011. Web. (Accessed 7 June 2011) Global...
7 Pages(1750 words)Essay

The impact of the current recession (global financial crisis) on human resource management

...with previous recessions in history. The financial crisis speeded across the world and impacted the GDP growth rates and increased inflation(Global Economics Crisis Resource Center, 2009), declining corporate productivities. For instance, major European countries faced the crisis with numerous complex challenges which impacted both private organizations and public sector governmental firms. Therefore, following the period of comparative prosperity which expanded between 2000-2007 identified by the rise in GDP rates (4-8 percent per year) (Gunnigle and Lavelle et al., 2013), the continuous decline in inflation, reasonable financial deficit, decreased foreign debt, and a...
13 Pages(3250 words)Essay

Discuss the impact of the global financial recession on our lives

...The Impact of the Global Financial Recession on our Lives By Financial crises have occurred at different times in the past. Therefore, the global financial recession that began in the year 2007 was not new in human history. However, this recession was unexpected. Hence, many governments were not prepared to handle it. Being a global financial recession, this situation affected countries in the whole world, including developing and developed countries. According to the International Monetary Fund (IMF) a global recession...
3 Pages(750 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Literature review on topic Global Financial Recession for FREE!

Contact Us