This website uses cookies to ensure you have the best experience. Learn more

International Business Financial & Management Accounting

6097 words - 24 pages

PAGE PAGE 1 Financial & Management Accounting
Running Head: International BusinessInternational Business Financial & Management AccountingInternational Business Financial & Management AccountingIntroductionDo financial and management accounting practices differ across countries? The commonly accepted view on the relationship between, for instance, national cultures and financial and management accounting suggests that they do (e.g., Ahrens 1996; Carr and Tomkins 1996; Chow et al. forthcoming). However, in this study, we are more interested in the identification of similarities of financial and management accounting practices across countries.The argument of our paper builds on observations of a rather strong current tendency toward global homogenization of management accounting practices. Since practice is a multifaceted term, it is possible to focus on various aspects of practice: systems, processes, information use, accountants' behaviour, etc. It is possible to examine practices at the micro or macro levels, or both (Gupta and Govindarajan 2001; Harrison and McKinnon in press). By macro level we mean concepts (e.g., in an ABC context, activity or cost driver), ideas (e.g., in ABC, improved allocation of overheads to cost objects in today's operating environment), techniques (e.g., ABC as a two/multi-step cost allocation technique), system designs (e.g., how with what kind of software is ABC is technically implemented) and, at least partly, the purpose of using certain pieces of management accounting information (e.g., advanced process cost control or reduction of overheads through ABC implementation), which form the basis or framework for the micro-level action to take place (cf. Shields 1998). On the other hand, by micro level we refer to behavioural patterns and styles of information use, like budgetary-related behaviour (Hopwood 1973; Otley 1978; Lukka 1998; Ahrens 1996). Micro level hence deals with the practical "doing" of financial and management accounting in the everyday life of organizational actors, here denoting especially management accountants and managers using management accounting information. This paper concentrates on macro-level issues due to a lack of prior systematic analysis of macro-level factors enhancing global convergence of financial and management accounting practices, although such a phenomenon today is easily distinguishable and sometimes also, in passing, addressed in recent literature (Chow et al. forthcoming).The few accounting studies that have investigated the effects of national cultures on financial and management accounting practices stress the particularities of British, German, American, Japanese, etc., financial and management accounting practices (Birnberg and Snodgrass 1998; Takatera and Yamamoto 1999; Chow et al. 2004; Merchant et al. 2000; Nishimura 2000; Ahrens 1996, 1997; Ahrens and Chapman 1996; Anderson and Lanen forthcoming; Granlund and Lukka 1998; Loning 1996). A closer look at...

Find Another Essay On International Business Financial & Management Accounting

The Differences Between Financial Accounting & Management Accounting

336 words - 2 pages Financial and management accounting are both important tools for a business, but serve different purposes. A business uses accounting to determine operational plans in the future, to review past performance and to check current business functions. Management and financial accounting have different audiences, as investors are not usually involved in the day-to-day operations of the business but are concerned about their investment, whereas

Financial Accounting: Tools for Business Decision Making Financial and Managerial Accounting: The Basis for Business Decisions

857 words - 3 pages Running head: TEXTBOOK ASSIGNMENT 1 TEXTBOOK ASSIGNMENT PAGE \* Arabic \* MERGEFORMAT 6 Textbook AssignmentnameACC/400: Accounting for Decision MakingMay 2010instructorTextbook AssignmentChapter 8 of Financial Accounting: Tools for Business Decision Making by Kimmel, Weygandt, and Kieso (2007) is Reporting and Analyzing Receivables. Receivables are "amounts due from individuals and companies that are expected to be collected in cash" (Kimmel

Code of Ethics in Management Accounting and Financial Management

516 words - 2 pages Code of Ethics in Management Accounting and Financial Management When faced with major problems and dilemmas in management accounting and financial management, practitioners look to the 'standards of ethical conduct' for practitioners of management accounting and financial management. While looking at ethical standards one has to look at four different areas they are competence, confidentiality, integrity, and objectivity. These four areas

MANAGEMENT ACCOUNTING AND BUSINESS DECISION MAKING

2081 words - 8 pages MANAGEMENT ACCOUNTING AND BUSINESS DECISION MAKING - ASSIGNMENT 2NAME: AlexGROUP NUMBER: BLEVEL: IntermediateHAND IN DATE: 13/01/2006Task 1Objectives: 1. To be able to demonstrate the ability to critically analyse given data using ratio analysis techniques.Profitability1. Return on ordinary shareholders' funds= ROSFROSF= Net profit after taxation and preference dividendOrdinary share capital plus reserves2004= 1,123* 100 = 3.91%28,7242005= 1,655

Marketing MA Management and International Business

1999 words - 8 pages Marketing MA Management and International Business Introduction CRM is a term for methodologists, technologies and e-commerce capabilities -used by companies to manage customer relationships. (Foss, 2001:1) It is also called customer management, customer care and sometimes customer centricity or customer-centric management. (Brown, 2000:1) All the names and definitions of CRM have customer, as its core-it is the management of

Softbank Corporation Case Study - International Business Management

2070 words - 8 pages The Softbank holding company controls over 600 internet and technology-related companies all over the world. It has become one of the largest distributors of software and technology-related products as well as a provider of internet based information. Softbank Group has its foot in many fields of business: IT-related distribution and E-commerce, Financial services, Publishing and marketing, Internet infrastructure, Technology service and

Culture diversity and International Business Management

593 words - 2 pages manager would have to make very few adjustments in culture when dealing with a German business. Germany and the US are very similar in Hofstede's model. The biggest difference between the two that could affect an American Manager is Individualism. In Germany this is very low, so managing would be more effective on a group scale rather than an individual scale. For instance instead of individual evaluations one might use team evaluations, since teams are probably the system of choice.Sources CitedRajib N. Sanyal. International Management. Upper Saddle, NJ: Prentice Hall, 2001

Explain the difference between financial and management accounting, the fundamentals of management accounting. Explain how costs are classified us

1076 words - 5 pages years. The table below will clarify the differences: Description Financial accounting Managerial accounting Users Financial accounting shows how the business is performing to people who are not working inside the organisation. Managerial accounting produces reports to managers and employees. Reports Reports issued to shows the whole organisation performance to stockholders, creditors or other organisations. Reports can be issued for the whole

The Importance of Financial Management in Small Business

2795 words - 11 pages Running head: THE IMPORTANCE OF FINANCIAL MANAGEMENT IN SMALL BUSINESS PAGE \* MERGEFORMAT 1 The Importance of Financial Management in Small BusinessAbderrahim AouchiMaryam OihabiAbderazak OuassouTexas A&M UniversityAbstractThe purpose of this paper is to explore the automotive industry and to understand opportunities and barriers of starting a small auto parts retail store and entering the market place. Quickfix Auto-parts case study is a

Case Study: Swatch And The Global Watch Industry International Business, Repositioning Strategies, Marketing, Management Issues, And Recommendations For Growth

1734 words - 7 pages resolved in order for success to prevail. Management issues were plaguing Swatch; multiple key figures stepped down from the board in the mid 1990's citing the CEO's inability to listen to his staff. In addition to the management issues, Swatch was also facing fierce competition in many market spaces, including the largest consumer base space, the United States. In addition to lack of market penetration in the United States, Swatch had too many

Developing a business plan will enable you to effectively execute your financial, marketing, legal, and management strategy

989 words - 4 pages Starting a small business is often an overwhelming and unpredictable venture, a sure fire approach to improve profitability is developing a solid business plan. Developing a business plan will enable you to effectively execute your financial, marketing, legal, and management strategy. An inadequately developed business plan generally leads to a failing business.A business plan outlines your business strategy; the industry, business structure

Similar Essays

A Report On The International Financial Accounting Standards

1112 words - 5 pages highlight the current developments in the relationship between these major players in International Financial Reporting Standards. Many other major capital market standard settlers have since co-existed and cooperated with the stated goal of issuing converged standards. In conclusion this report will outline possible implications that may be taken into account when improving developments for the future of International Financial Accounting Standards

How International Financial Reporting Standards Affect The Quality Of Canadian Accounting Information

1846 words - 7 pages How would International Financial Reporting Standards affect the quality of Canadian accounting information? INTRODUCTION Globalization has a great impact on today’s economy. The differences of accounting regulations and practices in various countries have become a noteworthy obstacle to globalization and economic development. International Financial Reporting Standards (IFRS) mitigates global business barriers. In order to adapt to the

International Financial Management: Bhp Essay

1862 words - 8 pages Surname PAGE \* MERGEFORMAT 1 International Financial ManagementIntroductionThe management of a business organization is mandated with the responsibility of ensuring that the business organization adopts the necessary management practices in order to achieve increased performance. In the cause of business activities, business organizations come across different risks including financial risks. The financial risks in a business organization are

International Financial Management Essay

717 words - 3 pages individual nation, duty regulation's variations and difference in lawful procedures. The aim of this paper is to talk about the significance of worldwide economical management to recognize that the part which economical management is competing in a contemporary worldwide business situation, explain the international financial system, and how to apply an economical administrator at an international company. International financial management offers