InternAccting_Wk2Discussion

InternAccting_Wk2Discussion - and IAS where accounting...

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Week 02 Discussion - Accounting Standards Variations Since accounting standards vary from country to country, it is important to understand the causes of these variations as well as identify similarities and differences. Conduct research to locate an article that addresses the differences in accounting standards. Prepare a brief summary of the article and make sure to include the URL of the article. Why do you feel there are so many similarities/differences? How will this impact your career? I wasn’t able to find an article on the differences in accounting standards. Instead, I found a study that was performed using 30 different countries. “Differences between Domestic Accounting Standards (DAS) and International Accounting Standards (IAS): Measurement, Determinants and Implications” delves deep into the controversy around creating uniform accounting standards. Before going into more detail on the differences, they first state that they use absence and divergence to measure the differences. Absence is used to measure the differences between DAS
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Unformatted text preview: and IAS where accounting issues are missing. Divergence is used to measure the differences between DAS and IAS where the rules of the same accounting issues differ. I feel that the reason there are so many differences is because factors, such as, the nature of the entity, the detailed transactions it enters into, its interpretation of the principles, its industry practices, and its accounting policy is not taken into consideration. With so many different business combinations, size of businesses, and the industry they do business in, it would be hard not to have some discrepancies. References Ding, Yuan, Hope, Ole-Kristian, Jeanjean, Thomas, & Stolowy, Herve. (2005, December 16). Differences between Domestic Accounting Standards and IAS: Measurement, Determinants and Implications. Retrieved from, http://www.hec.fr/var/fre/storage/original/application/06b0c86b1a0a2e5d2c5c11f12c073a 75.pdf...
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