Case Study on International Accounting:
International accounting is the serious branch of accounting which analyzes and maintains the process of the financial, managerial and other types of accounting on the international level.
Nowadays, due to the process of globalization business can not exist simply on the territory of the single country. Every firm tries to develop intensively and broaden its activity behind the boarders of the one country facilitating international economic relations. Business can not exist without the well-developed sphere of accounting, because this discipline organizes the financial activity of the firm, calculates all its profits and expenditures, plays the role in the data analysis and decision making. When one speaks about international accounting, he means the organization of the production, taxation, the maintenance of the quality of the business relations, human resource management, employment, solution of various cultural barriers, evaluation of the cost of production, the analysis of the problems related with the supply chain, etc.
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All these issues are closely connected with money and international accounting is supposed to keep all the financial operations and their results under the strict control. With the development of the international economic relations the special documents and standards of accounting have been generated for the improvement of the process of international relations and reduction of the problems and misunderstandings which can occur because of the differences in the system of accounting in different countries. Finally, the sphere of international accounting operates facts about the problem of employment. It is natural, that international corporations require multitasking specialists, who are good at several languages and possess knowledge about the company’s activity.
International accounting is the useful topic for the research, because the student is able to observe the organization of the financial structure of the international business. One should pay attention to the processes which can be called the main elements of international accounting and evaluate their usefulness and interconnection. The case on international accounting is the research of the definite problem related with the financial activity of the international corporation chosen for the research. One can focus on the strong and weak sides of international accounting in the chosen company and observe the cause and effect on the existing problems. The student’s duty is to generate the best solution to the problem of international accounting sharing his experience and knowledge with the professor.
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