Discussion

Present 2 arguments for and 2 arguments against the movement toward harmonization. Which arguments do you support and why? You must use your own critical ideas (supported by authoritative reference sources) to support your position.

Comment this post $3.00

Good evening Dr. Ferrell,

The discussion this second week, is interesting as it refers to the pros and cons in reference to harmonization in financial reports. This is a complex point since the objective of these reports is to communicate the accounting information of the organizations, and in this way to be able to provide accurate knowledge to the people responsible for decision-making.

From my point of view, two arguments that I would use for the pro-harmonization movement and two against that movement, would be:

Pro- Harmonization

Against-Harmonization

More confidence on the part of investors, since there would only be a financial language, which would allow a better understanding in the reports; In addition, the cost of consolidating the annual reports would be reduced.

Harmonization would not allow the identification of problems in the accounting system of each country, and in this way it would not be possible to identify internal problems that each country may have at the political, social and cultural level, which would be a negative aspect for foreign investors who want to undertake businesses in those countries. (Angeloni., 2016)

A single set of global financial standards would increase the possibilities of generating better quality financial reports with accurate information, since comparability between financial reports would provide investors with more detailed information. (Kiaupaite-Grušniene, & Alver, 2019)

The implementation of a globally reliable single set is considered by many nations to be costly, especially in developing countries where they already have their own GAAP system, and the adoption of a new one would need to train users which would increase expenses in small companies.

Week 3

Discussion $5.00

Discussion Question:

Define and explain the terms “foreign exchange exposure risk” and “functional currency.” Explain the purpose of using a functional currency in the translation of financial statements.

This is Topic 830 Foreign Currency Matters in the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC). For your convenience, the URL to the website, username and password are provided below:

http://aaahq.org/FASB-GASB

Student Login

Username – AAA53060

Password – 5hJ7QfQ

PPT $30.00

Find a current accounting article related to the week’s reading from a scholarly reference source (e.g. peer reviewed/authoritative source from the KU library) and make a 10 slide PowerPoint presentation explaining the article and submit it to the Presentation/Discussion Board as an attachment to your post. Post responses to/comments on 2 other students’ presentations for a total of 3 posts. Posts should be about 1 -2 paragraphs in length.

NOTE:

· Do not just copy and paste the article. You are to select the most relevant parts of the paper that relate to the week’s topic and provide your own conclusion on the topic.

· You are required to include a list of References and to cite your sources in the body of the Presentation using proper APA format