StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

International Accounting: Development and Classification - Essay Example

Cite this document
Summary
These resources are also used to finance basic goods and consumption. The private sector normally lack finance to fund their investments. They rely on banks and…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93.5% of users find it useful
International Accounting: Development and Classification
Read Text Preview

Extract of sample "International Accounting: Development and Classification"

Download file to see previous pages

This legal system has contribution to the development of the current accounting regime. The French code law has especially influential as Islamic law is used on family matters related to divorce, marriage, and divorce, among others. Due to the influence of the French code law, accounting is linked to taxation. Preparation of financial records is done together with the other preparation for the tax payable to the authorities. The Algeria has close political association with fellow Arabic countries.

It is a member of the Arab league. Its main economic partner is the European Union and particularly the French, Spain, Italy, and Germany. Other important partners are United States and turkey. Main export is hydrocarbons and it imports machinery and infrastructure equipments. The level of economic development in Algeria is low. The country is a middle income economy with a per capita income of $7,600 PPP and a GDP of $325.0 billion according to 2012 estimates (Accounting, 2014). As much as 23% of the population lives below poverty line.

The economy is not diversified as it relies heavily on sales of commodities. Inflation level is low at 3.9% according to 2013 estimate accounting (Publications 2014, January 9). Education level is low especially among the indigenous Berbers who live in remote areas of the country. The education is however increasing the level of investment in the education sector using the money earned from the sale of commodities and hydrocarbons. . China is country that is developing very fast. It receives billions of dollars annually in foreign domestic investments.

The main source of finance is banks and the government. Chinese banking industry is highly developed and liquid. The government also backs some of the biggest banks with huge amount of resources. On a lesser scale, start-ups get finance from venture capitalists and the stock market. Chinese legal system is a mixture of code law and native customers and practices. It also has

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“International Accounting: Development and Classification Essay”, n.d.)
International Accounting: Development and Classification Essay. Retrieved from https://studentshare.org/finance-accounting/1635371-international-accounting-development-and-classification
(International Accounting: Development and Classification Essay)
International Accounting: Development and Classification Essay. https://studentshare.org/finance-accounting/1635371-international-accounting-development-and-classification.
“International Accounting: Development and Classification Essay”, n.d. https://studentshare.org/finance-accounting/1635371-international-accounting-development-and-classification.
  • Cited: 0 times

CHECK THESE SAMPLES OF International Accounting: Development and Classification

International Accounting Standard 38 on Intangibles

In the paper “international accounting Standard 38 on Intangibles” the author looks at the difference between the method used before and the method used now.... EU Internal Market Commissioner Frits Bolkestein said: The international accounting Standards Regulation will introduce a new era of transparency and put an end to the current Tower of Babel in financial reporting.... tm) Comment: The main purpose that all countries are “rushed” to apply these international accounting standards is to have a comment yardstick to compare one company in the European Union with another country selling the same products and services....
5 Pages (1250 words) Assignment

International Acoounting theory

Taking into account the dissimilarities that are present between the accounting goals of nations at various levels of progress and with various legal structures, possibly the astonishing thing is that any development at all has been accomplished in such short notice (McCarthy 2003).... Somehow similar to the analogy of the world as a simpler place if everyone spoke one language is the possible simplicity of the international world of business if accounting regulations are uniform all over the world....
4 Pages (1000 words) Essay

Views on Financial Statement Presentation

The need to reassess the presentation of the financial statement in its current form was ignited by the misrepresentation of data to the public and regulators by various US corporations including Enron and WorldCom and later gained momentum in the wake of the dramatic fall of… seemingly ‘stable' Lehman Brothers and other major global financial institutions when fair value accounting not reflective of existing market prices and GAAP principles were manipulated by executives to generate disingenuous financial reports (Benston, 2003)....
7 Pages (1750 words) Essay

Financial Statement Analysis Nike Inc and Adidas Group

Financial statements are tools that are used… to collate information regarding these transactions in a manner that allows for investors and other stakeholders to understand the true business dynamics of the entity, and their positioning in the market in terms of various metrics utilised by accountants and analysts as The generic accounting principles include four types of financial statements: balance sheet, income statement, cash flow statement and retained earnings statement (Nikolai et al, 2009)....
9 Pages (2250 words) Essay

The Regulatory and Conceptual Framework of International Accounting

The paper "The Regulatory and Conceptual Framework of international accounting" tells that a conceptual framework of accounting is the theoretical principle, which strengthens both the development of new reporting practices and the evaluation of the existing ones.... The IASB-international accounting Standards Board issued a system for the arrangement and presentation of money related explanations.... nbsp; It is expected that the framework would assist the IASB in not only developing new international accounting standards but also in the revision of the existing ones....
10 Pages (2500 words) Assignment

Financial Accounting and Report

Lastly, the public use financial information to determine the trends and recent development activities of an enterprise to help them assess the possibility of a major economic contribution by an organization (Saudagaran 2009, pp.... Different laws and… For that reason, international bodies have set up agencies whose primary function is to converge the varying accounting practices.... This essay, therefore, focuses on different users of financial statements and their needs, the legal and regulatory influences on financial statements, the implication of the regulations for the users, the role of the accounting and reporting standards and how the information needs of different user groups vary....
4 Pages (1000 words) Essay

Problems and Changes Arising from International Accounting Standards 17

For the leases and assets that qualify within the standard, classification divides them into finance and operating leases (IFRS, 2013a, p.... However, even with all the amendments and revisions, it still has some issues that cause problems in its application in accounting for leases.... The treatment and accounting for the two classes of leases differs.... As for finance leases, their accounting involves recognition both as an asset and liability in the books of the lessee....
5 Pages (1250 words) Essay

Rehabilitation Medicine Administration: The Australian National Diagnosis Related Groups

In this respect, classification of patients would be useful where factors such as resource utilization, patient health status and the required intervention would play the greater part in this classification.... The pioneering Diagnosis Related Group (DRG) classification, although it is useful with acute care, it proves inadequate for the sub-acute and non-acute care.... Consequently, the Australian National Sub-Acute and Non-Acute patient (AN-SNAP) Casemix classification emerged as an appropriate measure of the sub-acute and non-acute care....
9 Pages (2250 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.
Contact Us