Effects of Globalisation on the Accounting Profession

Abstract

Many economic, social and legal environments were the result of misunderstanding of financial statements and indicators, because they recognised positions in various ways and criteria, thus influencing the procedures and presentation of financial statements. In this sense, globalisation has contributed a lot to understanding them. Therefore, we often emphasise that the Committee (IASC) is dedicated to reduce many differences through the application of computational procedures, rules and standards, which affect financial statements that should be understood through globalisation by as much of the business world as possible. Accounting regulations vary from country to country, and it is said that there as many accounting policies in the world as there are countries. Globalisation is the product of founding the International Federation of Accounting (IFAC) in 1977. The main purpose of this organisation is to strengthen the accounting profession and the compliance with accounting rules such as IAS and IFRS.