Globalization

Day by day the innovation technology shrinks the carrefour line world and many companies are able to maneuver beyond its geographic boundaries. This phenomenon known as sphericization affects backup superior including accountants in the United States. (U.S.). Discuss how globalization has changed the affair of a Certified Public Accountant practicing (certified familiar accountant) in the United States today. globalisation has not really changed the role of a CPA in the U.S. today, except 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 affidavit and assurance services in addition to history and bookkeeping, tax, and oversight 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, mainly outs ide(a) Financial account Standards (IFRS), other than U.S. Generally Accepted method of accounting Principles (generally accepted accounting principles). As such, a CPA employed by public, non- U.S. companies registrant of Securities tack 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 word meaning of supranational Financial account Standards (IFRS) pull up stakes impact the public accounting concern in the United States. The convergence or adoption of the IFRS will stomach adverse impact on the public accounting profession in the U.S... Accounting professional will open to perform their duties under new standards. Although IFRS and GAAP have some similarities, the twain do have a tidy sum of differences. Accountants have to eclipse those divergences to GAAP in piece to accur ately prepare financial statements. The shi! ft will not single 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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