Globalization

Day by day the innovation technology shrinks the harvest-time line world and many companies are able to turn tail beyond its geographic boundaries. This phenomenon known as world(a)ization affects affair superior including accountants in the United States. (U.S.). Discuss how globalization has changed the parting of a Certified Public Accountant practicing (certified human beings accountant) in the United States today. globalisation has not really changed the role of a CPA in the U.S. today, provided 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 witness and assurance services in addition to invoice and bookkeeping, tax, and commission 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, ma inly supranational Financial account Standards (IFRS), other than U.S. Generally Accepted news report Principles (generally accepted accounting principles). As such, a CPA employed by public, non- U.S. companies registrant of Securities supervene upon 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 betrothal of world-wide Financial account Standards (IFRS) leave behind impact the public accounting concern in the Unit ed States. The convergence or adoption of t! he IFRS will stomach adverse impact on the public accounting profession in the U.S... Accounting professional will prepare to perform their duties under new standards. Although IFRS and GAAP have some similarities, the twain do have a hatful of differences. Accountants have to eclipse those divergences to GAAP in piece to accurately prepare financial statements. The shift will not whole 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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