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What are the barriers to international harmonisation of financal reporting standards?
There are several barriers to the harmonization of international financial reporting standards. Among the barriers are;
1. Culture
2. Business process
3. Legal framework
4. Investors perception about foreign transfer of financial regulations
5. Inappropriate theoretical framework for integration and convergence
6. poor enforcement and compliance. etc
Jude E. E.
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Barriers to successful harmonisation of accouting standards?
I believe this question is phrased incorrectly. "International Accounting Standards" means the same thing as IFRS. IFRS stands for "International Financial Reporting Standards". I suspect the question should actually read 'what is the difference between IFRS and US GAAP? I have some knowledge regarding this question as well but this is by no means a complete response. The piece I know about applies to the treatment of R&D expenses. Under US GAAP, almost all of a company's R&D expense are treated as cash outflow (expenses) and affect the income statement in the period in which they occur. There is no effect to asset levels on the balance sheet. Under IFRS, a large portion of a company's R&D expenses must be capitalized and then depreciated/amortized over some period. The treatment is more like that of capital investment spending and creates assets on the balance sheet that then carry a book value as they are depreciated over time.
Advantage of IFRS?
IFRS are accepted as a financial reporting framework for companies seeking admission to almost all of the world's stock exchanges.The enhanced comparability of the companies' financial information and the improved quality of communication to their stockholders, decrease investor uncertainty, reduce risk, increases market efficiency and eventually minimizes the cost of capital.IFRS eliminates barriers to cross-border trading in securities, by ensuring that financial statements are more transparent.IFRS financial statements that are universally understood and comparable can both improve and initiate new relationships with customers and suppliers across national borders.ADS BY GOOGLE
What are the disadvantages of activity based costing?
· More time consuming to collect data · Cost of buying, implementing and maintaining activity based system · Makes waste visible which some executives and managers don't want their boss to see * It may be difficult to set up and establish, particularly if an organisation is using more traditional accounting methodologies. (barriers to change) * Can be time consuming if all activities are to be costed * May provide too much detail - obscuring the bigger picture.
What are the disadvantages of functional structure?
- In the functional structure, functions are all separate, resulting in employees having very little understanding or concern for any area outside of their own functional area. This does not allow for an overall prospective of the company and the company's future. - This separation leads several barriers in communication and overall cooperation and coordination. - Individual focus rather than a company focus - No structure in the way things are run as a company, processes are all separate in each functional area - The functional specialization does not allow managers in that area to have a broad perspective on the company or other specific areas.
What are the psychological barriers to business communication?
EmotioOne possible psychological block is emotional. For example, you might be emotionally blocked if you are announcing a new policy you know will be unpopular, giving the first major presentation on your job, or writing to someone you dislike. The people with whom you are communicating are also subject to emotional blocks. They may feel indifferent or hostile toward you or your subject, or be biased against you (perhaps because of your youth, sex, race, relatives, friends, or even clothes) or against your subject (perhaps because the think it's illogical, perhaps simply because "That's not the way we've always done things here").Perceptual:Even if there are no emotional blocks, every person perceives things differently. Although we all live in the same objective world, we all live in different subjective worlds. Communication involves perception, and perception is never precise. A second psychological block, then, is perceptual.One perceptual problem is that people perceive things differently. Given precisely the same data, people see, interpret, or respond to them differently. A second perceptual problem is caused by people "filling in" information without checking its accuracy.abdihakim Ahmed Alisaytuuni
Embarrassment and social stigma are common barriers to reporting a sexual assault but in a military setting other barriers include?
To reporting a sexual assalt.
What are the barriers to international marketing of services?
describe in detail the barriers to international marketing of services
Barriers to successful harmonisation of accouting standards?
I believe this question is phrased incorrectly. "International Accounting Standards" means the same thing as IFRS. IFRS stands for "International Financial Reporting Standards". I suspect the question should actually read 'what is the difference between IFRS and US GAAP? I have some knowledge regarding this question as well but this is by no means a complete response. The piece I know about applies to the treatment of R&D expenses. Under US GAAP, almost all of a company's R&D expense are treated as cash outflow (expenses) and affect the income statement in the period in which they occur. There is no effect to asset levels on the balance sheet. Under IFRS, a large portion of a company's R&D expenses must be capitalized and then depreciated/amortized over some period. The treatment is more like that of capital investment spending and creates assets on the balance sheet that then carry a book value as they are depreciated over time.
What are the barriers in the flow of international comunication?
There are many barriers that may stop the flow of communication in international areas. Different languages and a time difference can delay or stop international communications.
What is the mission of the IEC?
The mission of the IEC is generally to bring nations experts together to develop International Standards, which facilitate world trade by removing barriers to trade and help improve economical growth.
Reduction of barriers to international trade?
Improved communication
What are direct and indirect barriers of international trade?
life
How do companys solve international language barriers?
Companies can solve international language barriers by hiring locals. Locals that speak their language will help translate for employees who don't.
How did the world trade organization contribute to Globalization?
Answer this question… It encourages international exchange by removing barriers to trade.
What are the barriers of investing internationally?
There are many barriers of international investment:many different currencieslaws and taxes vary from country-to-countrylanguage barriers (especially for accounting reports)
What is tarrif and non-tarrif?
A tariff is a tax imposed on imported goods and services. Non-tariff barriers are restrictions other than tariffs that countries use to control international trade, such as quotas, licensing requirements, and technical standards. Both tariff and non-tariff barriers can limit the flow of goods between countries.
Disadvantages of trade barriers?
Trade barriers impact businesses. International businesses can't maximize their profits with trade barriers in place. They have to find other alternatives for business.
