Standardization of Accounting Regulations Essay

Standardization of Accounting Regulations - Essay ExampleAs a result of this, the effect of standardization of accounting must be regarded beyond capital market settings therefore, these effects should also be examined on other areas, including flows of information, policies and people.Although the air standardization of accounting affects accounting information more especially on the internet is rather vague, these transfers are relatively unstructured and unregulated in contemporary accounting practices. However, technologies in accounting are legitimizing certain sets of information, and give attention to certain voices in the quest for global attention. (Graham & Neu, 2003) Such a body is the brass section for Economic Co-operation and Development (OECD), it assist the international governments handle tackle the economic, social, and governance challenges of a global economy. They scrutinize government and help examine such death penalty indicators as laundering, transportat ion, and pension. Also, they help to review process performance measurements both to observe and to direct government performance. The funding of internet information is provided largely by the U.S discussion section of Defense in the 1970s and 1980s, for the purpose of developing advance communications networks linking the U.S. militaries and universities, this is shaped by standardized accounting in the development of informational technical infrastructure. nigh other agencies that have helped fund Internet communication, like (The National Science Foundation and the Advanced Research Projects Agency) have also relied on accounting technologies to residuum technical and economic goals. (Graham & Neu, 2003) Flow of policyStandardization of accounting has also helped to regulate foreign policies accounting practices are most times imposed on distant sites. By and through the terms of lending conditionality, the receiving counties are coerced, albeit co-operatively, to adopt and a ccept mainstream neo-liberal financial policies. This scenario is evident in most third world where they are made to abide by the conditions of the lending countries. And I such cases financial assistance is given by IMF. Accounting technologies make visible certain difficultys, put out certain solutions, and make these solutions operational. In most cases, practices from international sources are thus mixed with resident financial practices of the country in concern so that the problem could be solved. Ultimately, this flow of policies will produced economic survival. Flow of peopleThe standardization of Accounting has helped to keep track of people as they move from area to area. elbow grease of people are monitored and analyzed as they cross borders, and accounting is deemed to be a major player in the immigration policies and practices of many countries. For instance, an accounting ashes which manages loans to immigrants is in operation Canada. Citizenship and Immigration Ca nada (CIC) makes loans to immigrants in order to assist them in various ways, and such includes transportation, proving admissibility, and general assistance (Government of Canada, 2003, as cited in Graham & Neu, 2003). Thus, the exercise of people into Canada are enabled and enhanced by accounting technologies. More also, these people are monito