Discussion Topic 1: Political factors influencing accounting
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. Political influences have a profound impact on the development of the accounting system in a country. Using the KU library, choose an article that explores the impact of a political system on the development of accounting practices in a country other than the United States. For your main post, summarize the article and add a short paragraph stating your opinion of the article. As follow-up posts, choose two postings of a classmate and offer additional insight on their article.
Discussion Topic 2: Impact of global accounting standards
Many accounting professionals and corporate executives feel there is a need for one set of global accounting standards. They argue that one set of standards will level the playing field for those seeking international capital investments. The task of converting to international reporting standards will be timely and costly. Do you believe that global accounting standards should be required for all companies? Or, should the application of global accounting standards be limited to those companies that are interested in acquiring international investors?