Globalization

Day by day the innovation technology shrinks the intersection point line world and many companies are able to guide beyond its geographic boundaries. This phenomenon known as world(a)ization affects transaction superior including accountants in the United States. (U.S.). Discuss how globalization has changed the employment of a Certified Public Accountant practicing (certified ordinary accountant) in the United States today. globalisation has not really changed the role of a CPA in the U.S. today, scarce it indeed has added more responsibilities to his or her job description. Traditionally, a CPA is an accountant for the public at large. He or she provides audit go and other deposition and assurance services in addition to be and bookkeeping, tax, and worry consulting services to his or her clients or employers (Arens/Elder/Beasley, 2010, P. 27-28). In the global market, a CPA in the U.S. fulfill same tasks but sometimes in accordance to accounting standards, mainl y supranational Financial account Standards (IFRS), other than U.S. Generally Accepted bill Principles (generally accepted accounting principles). As such, a CPA employed by public, non- U.S. companies registrant of Securities deepen Commission (SEC) that coach fiscal statements under IFRS has added responsibilities to reconcile those statements to GAAP standards.(Bruce Pounder, 2007, P.

1) for the benefits of the U.S. investors. Discuss how either the convergence or sufferance of world(prenominal) Financial account Standards (IFRS) will impact the public accounting concern in the United States. The con vergence or adoption of the IFRS will stoma! ch adverse impact on the public accounting profession in the U.S... Accounting professional will be possessed of to perform their duties under new standards. Although IFRS and GAAP have some similarities, the twain do have a serve of differences. Accountants have to eclipse those divergences to GAAP in piece to accurately prepare financial statements. The shift will not exclusively impact companies financial statements, but it...If you want to get a full essay, order it on our website: BestEssayCheap.com

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