Global Management Accounting: A Guide for Executives of International Corporations

By James A. Heely; Roy L. Nersesian | Go to book overview

CHAPTER 3
THE WORLD OF ACCOUNTING

Accounting is more than a way to organize financial figures. The goals of a nation and the aspiration of a people influence the structure of an accounting system. There is divergence and variety in the world's accounting systems because there is divergence and variety in the world's cultures. A manager who fails to appreciate this point may assume that the financial statements of a company operating in another nation are in accordance with the accounting system that he or she is familiar with--a dangerous assumption. Without appreciating these differences, a manager might misinterpret the financial statements, and in so doing, distort his or her evaluation of an overseas operation.

The principal accounting systems found around the world are surveyed here in terms of historic development of companies and accounting systems, qualifications of practitioners, professional societies, procedures for changing accounting standards, major influences on setting accounting guidelines, and publishing financial reports including public attitudes on the role of business in society.


THE UNITED KINGDOM

The United Kingdom was the world's first industrial nation and was the first to apply accounting to the modern manufacturing company. These practices spread throughout the British Empire. The historic role played by the United Kingdom in the development of accounting principles for modern corporations, and the promulgation of these principles throughout much, although not all, of the world, is also the foundation of a global accounting system.

Companies are formed in the United Kingdom under the auspices of various Companies Acts, which deal with the incorporation, management, administration, and dissolution of companies. Although it is possible to organize an un

-41-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Global Management Accounting: A Guide for Executives of International Corporations
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen
/ 312

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.