The Global Perspectives on International Accounting - Article Example

The text has occupied the number one selling slot for a long time on the topic. Now in its 10th edition, the text contains a wealth of conceptual analysis of the International Financial Reporting Standards foundations. Finally the 6th edition of Gray’s and Black’s text-primarily treats international corporate strategies along with an emphatic analysis of decision making in an ever-increasingly complex international environment of corporate culture. They delineate international accounting standards and practices in a vivid manner so that cultural factors affecting international standards are lucidly explained with IFRS framework as the basis of reference.

This edition with Black as co-author has set a new standard in the international financial accounting sphere. The book International Accounting: A Global Perspective by Iqbal, Melcher, & Elmallah provides the reader with a detailed analysis of international accounting principles and then extensively discusses international issues relevant to accounting and finance. Its global perspective analysis cuts across international barriers to achieving a well-balanced overreach in international accounting.

The book contains very incisive perspectives on the global market place free from prejudice and bias. While its strength concerning elucidation and enlightenment lie in the global culture approach, there is also an additional advantage associated with its treatment of international accounting as a more diverse professional study. (b). Managerial accounting consists of budgeting, costing, foreign investment analysis, transfer pricing, performance evaluation and control, operational auditing, information systems and foreign exchange risk management.

Though international finance also receives a fairly enough percentage of analysis in the book, the subject is confined to multinational organizations’ operational bases and not to the overarching domain of international finance proper.