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The Dilemmas of a Global Standard

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The Dilemmas of a Global Standard

Name:Personal
May, Amber Role :Text(marcrelator)
creator

Name:Personal
Kidwell, Dr. Linda Role :Text(marcrelator)
contributor

typeOfResource
still image genre
Origin Information Place
Laramie, Wyoming
University of Wyoming (keyDate="yes")
2009-05-15

Language:Text
eng

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born digtal

abstract
The United States has evolved its own set of Generally Accepted Accounting Principles (GAAP) over the last four decades. While other countries have created and developed their own set of GAAP, they are not necessarily compatible with the U.S. standards. As technology and other changes continue to foster a global economy, an increasing number of companies are going overseas to operate and obtain capital. The argument is made that one set of accounting standards is needed to allow investors, creditors, and other stakeholders to make educated decisions about the financial condition of companies. In theory, this argument has merit; yet, there are several issues about a conversion to a single set of standards that may cause serious problems for the people, organizations, and countries involved. There are potential legal, social, economic, and political questions that must be resolved for a successful conversion to take place. Currently, the fervor of converting to a global standardized GAAP has somewhat diminished due to the state of the world economy. Hopefully, this time will be utilized discussing answers to those legal, social, economic, and political questions so that an optimal decision is reached. note
From - Undergraduate Research Day 2009 - Celebration of Research - Abstracts
Subject
accounting standards

Related Item:series Title Information
Undergrauate Research Day 2009

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accessCondition:useAndReproduction
http://digital.uwyo.edu/copyright.htm
Record Information languageOfCataloging :Text(ISO639-2B)
English :Code(ISO639-2B)
eng