International Accounting Comaprison - 15028 Words

Acknowledgement I would like to pay my sincere thanks to, University of Delhi, South Campus for endowing me with the precious insights needed for working out this Project. He has been very instrumental in communicating the core of this project study and thus without his direction, the very inception of this work would not have been possible. Q1. Whether a country’s capital market is debt –oriented or equity oriented has a significant impact on the financial reporting that develops in the country, both at the cosmetic and at the substantive level. Choose a equity oriented country and a debt oriented country, and obtain two corporate annual reports from each. Comment on the similarities and the differences of the reports National†¦show more content†¦Use direct or indirect method Similar,but more specific guidance for items included in each category. Direct or indirect method used. Changes in accounting policy Comparatives and prior year are restated against opening retained earnings, unless specifically exempted. Similar Correction in errors Comparatives are restated and , if the error occurred before the earliest prior period presented, the opening balances of assets, liabilities and equity for the earliest prior period presented are restated. Similar Changes in accounting estimates Reported in income statement in the current period and future, if applicable. Similar Q2. The proximity or distance between accounting regulations and accounting practice often depends on the level of enforcement. Select two countries and discuss the level of enforcement of financial reporting regulations in each country. Identify the agencies and organisations in place that are responsible for enforcing the financial reporting requirements. How do they compare to one another? SPAIN General Enforcement Framework in Spain The timber framework of Spanish enforcement is composed for these following institutions, which are in charge of issue and establishment mandatory audit and accounting standards and oversight companies, auditors and audit firms. a) Creation and establishment of high accounting and auditing standards Accounting standards are written in a General AccountingShow MoreRelatedEffects of Alcohol and Nicotine on Fetal Development and Child Psychological Development: According to the Teratogenic Effect1140 Words   |  5 Pagesduring pregnancy and offspring psychosocial problems (Knopik 2009; D’Onofrio et al. 2013). For example, sibling-comparison studies, which compare siblings differentially exposed to maternal substance use during pregnancy (for a review of the sibling-comaprison approach, see Lahey and D’Onofrio 2010) suggest that the statistical association between maternal SDP and cognitive functioning (Gilman et al. 2008a, b; Lundberg et al. 2010; D’Onofrio et al. 2010a, b), externalizing outcomes (Lindblad and Hjern