Nonstandard Accounting common to the High-Tech Industry Essay

Nonstandard Accounting common to the High-Tech Industry - Essay Example The main idea behind the convergence concept was that, all nations would come together and form a unified set of accounting standards that would be applied in major capital markets. Additionally, the IFRS also wanted to ensure that the standards are adequately and rigorously used. More over the international standards formulated by international accounting standards took into account the financial reporting needs of the developing nations as well as small and medium-sized entities (SME’s).The IFRS is also in charge of maintaining the IASB independence and financial autonomy. By 1973 the international Accounting standards Committee was formed and it served as the first international accounting standards setting body. In 2002, it was however reorganized and became an independent accounting standard setter. Currently, more than 100 countries use the International Financial Reporting standards (that is set and issued by IASB) or a local direct of the IFRS. In the United States, the IASB have been developing Generally Accepted Accounting principles (GAAP) as well as IFRS. Additionally the Asian community (China and Japan) are also formulating their accounting standards to conform to the IFRS (Michael, 77). The IFRS dictates that financial statements must be structured in such a way that they reflect the true and fair view of the organization’s financial performance as well as the fair financial position. In this regard the financial statements must provide accurate information about the assets, equity, liabilities, incomes and expenditures of a given organization as well as the operating profits or loses. Additionally, to other relevant information include cash flow movement, contribution by/distributions to investors, notes. Such information enables a prospective investor to predict with great accuracy on when to invest profitably in the organization based on the prediction of future cash flows. IFRS dictates that financial

Googling Out of Control Essay Example | Topics and Well Written Essays - 2000 words

Googling Out of Control - Essay Example In other types of industries, the Googley way of working could potentially spell disaster for sales and overall business success. This paper will show whether the Googley way of working is actually sustainable long-term for the company and will discuss whether or not this way of working could provide higher benefits for different companies in need of change to their organisational structures or systems and processes. Historical theorists such as Frederick Taylor believed in a scientific method for business in which people should be observed over a period of time and then determining, through these observational findings, which method of training is best for performing specialised jobs in the organisation (Bloisi, Cook and Hunsaker, 2006). Combined with the scientific approach, Taylor also viewed workers through a mechanistic standpoint, believing that workers were often inherently difficult and uncooperative and often lacked the ability to absorb knowledge and information successfully. This classical view of management is still at work in many different industries today which have strong leadership hierarchies where virtually all decision-making starts at the top and trickles down the organisation. Google has managed to break away from this classical type of management model where workers are heavily controlled and observed and has given their workers considerable autonomy in most of their own d ecision-making concepts and job roles. It may only be in an environment where change is constant and there is a need for flexible and rapid decision-making where this chaotic type of leadership concept is going to be successful. For example, many of the main global automakers are experiencing sales declines in their auto sales, especially noticeable in the United States. Automakers in this category such as Ford and General