The assignment you are required to complete for this module is an in-depth study of two countries
Question:
The assignment you are required to complete for this module is an in-depth study of two countries’ financial reporting standards. You can choose any two countries.
Your presentation and report should concentrate on the following points:
1. A description of how accounting and reporting are regulated (e.g. company law, accounting standards, stock exchange requirements) your chosen countries.
2. A description of the process of international harmonization in these two countries. You are expected to describe and compare the methods and current state of adoption of, or convergence with, IFRS in your chosen countries, and indicate the main challenges and the efforts put in the process of international harmonization.
3. A critical evaluation of the factors that might explain the accounting differences and the choice of international harmonization methods in your chosen countries, such as culture, legal system, providers of finance and equity markets, tax systems, etc. Although the accounting differences might become less dramatic due to the move to IFRS in your chosen countries, these factors might still be relevant because international differences may survive in the form of IFRS implementation, such as different interpretations of IFRS or different choices of options.
Your discussion should be supported by relevant academic studies.
Financial Accounting The Impact on Decision Makers
ISBN: 978-1285182964
9th edition
Authors: Gary A. Porter, Curtis L. Norton