Harmonization of Accounting Standards Through Internationalization

Vol. 2, No. 2 internationalistic Business Research Harmonization of Accounting Standards by foreignization Nikhil Chandra Shil, ACMA (Corresponding Author) Department of Business Administration East West University 43, Mohakhali C/A, Dhaka 1212, Bangladesh Tel: 9887989(Off.) ext 253, 01819289589 (M) Dr. Bhagaban Das P.G. Department of Business Management, Fakir Mohan University P. O.: Balasore, Pin.: 756019, Orissa, India electronic mail: bhagaban_fm@yahoo.com Alok Kumar Pramanik Department of Commerce, Bhatter College P. O.: Dantan, Pin. : 721426, Paschim Medinipur, West Bengal, India E-mail: alokdantan@sify.com Abstract The journey to need a common set of accounting standards started long in the beginning to give it a professional shape and essence. And accountants all everywhere the origination feel the necessity to shorten the gap among distinguishable streams of accounting practices through harmonization. Still, we have a couple of sozzled variants of accounting practices (say, for example, US GAAP, UK GAAP, IAS etc.) over the world existed and practiced simultaneously. These variants be working as threats towards harmonization of accounting practices. However, the profession has as well witnessed some improvements in recent years in the exhibit of global convergence putting some ray of hope.

International and even local standard setting bodies have fuck off up with projects of harmonization and in most of the cases became successful. The day is not far away when we will observe that accounting world is controlled and guided by a single set of standards enceinte it a status of legal discipline in sure sense. The paper focuses on this harmonization issue, its current status, challenges with special character reference to Indian perspective. Keywords: Harmonization of Accounting Standards, International Accounting Standards, International Financial Reporting Standards, Generally Accepted Accounting Principles, Securities and counterchange Commission, International Accounting Standards Committee, Convergence... If you want to get a beat essay, order it on our website: Orderessay

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