会计准则优缺点分析--澳洲Assignment代写

澳洲Assignment代写范文:“会计准则优缺点分析”，这篇论文主要描述的是在会计对财务报表以及财务状况的审核中，每一个流程都有着其相应的依据和准则，这就像是每一个国家都制定的会计准则一样，会计准则也提供了一些特殊的情况是如此去解决的案列，本文所要探讨的就是会计准则都有哪些优点与缺点。

In accounting, for every basis, identification and measurement of the elements of financial statement and the impact of the circumstances and financial status and work results should be defined in a form of standards. These standards are like the rules for accounting in any country. That is why they denote what should be mentioned in any company's accounts. Moreover, they guarantee that certain cases, approaches and requirements are taken into account normally. In addition, they help people who are interested in investment to make decisions by ensuring that they get appropriate information needed. This is the idea behind accounting standards.

When we talk about accounting standards, the main thing that comes under them is the accounting report. According to the International Accounting Standards Committee (IASC), accounting reports are documents filled out by brokers that give details and facts about a new client's financial circumstances and investment objectives. The report may be updated if there are material changes in a client financial position. Based on the report, a client may or may not be deemed eligible for certain types of risky investments such as commodity trading or highly leveraged limited partnership deals.

The second main thing is the framework. According to the Financial Accounting Standards Board in the US, the conceptual framework is the system of fundamentals and objectives that make consistent standards by knowing that the accounting report does not mean the rules but the guidelines. Actually, rules are set in the accounting standards which we can formulate from the framework. But when we face an interpretation conflict, it takes some requirements over the framework.

Accounting Standards, Advantages and Disadvantages:

Having said that accounting standards are the provider of the rules, conditions and consistency, they may hold some pros and cons while they are being implemented and taken in any company. Efficiency and effectiveness can be gotten through consistency if different organizations apply them than other organizations in their financial transactions. If we ask ourselves about the main reason behind bookkeeping practices, the answer would be that companies with different forms and a wide range of data to be maintained are better than those that have the same data categorized less in the same shape and will face a very big problem in trying to do business together. Hence, the justice and court have standard operations and businesses in fact, should denote all of its operations and transactions. According to Elliot (2009) companies should organize their operations with standard clients, competitors, customers, and suppliers. If we want to issue clear standards of financial accounting, we have to take into account the direction ofthe economy to establish joint stock companies with large capital. It's necessary to expand the vision of accounting standards according to communication and delivery of accounting information to lead to the need for that information to let them assess the performance of businesses to make good decisions with regards to their investment. Accounting standards are a very significant practice as it leads to effective corporate governance programs. They also provide a useful mechanism to rebuild the corporate values.Schipper, K. (2003). Principles-Based Accounting Standards. Accounting Horizons, 17(1), 61-72

The Need for Accounting Standards:

The need for accounting standards has been a very important aspect to ensure that comparability, accuracy and transparency are needed for the integration of European financial markets, which is according to the International Accounting Standards Committee (IASC). We need accounting standards to develop the measures of performance in any form of life, whether it is in financial reporting, returns and funds, or even playing a game. Actually, high quality financial reporting is connected with efficient capital markets so as to lead for investment to be well done. If we want the economy to function efficiently, we should have accounting standards because they help us reach our destiny. With accounting standards and good financial reporting, customers can get a clear image about business activities and financial conditions. To make it very clear, I will just mention a small example created by me that will really denote and clarify the real need for accounting standards in any business enterprise. With known and organized accounting standards, when the amount of the net income of Fathiya Company and Abeer Company is 2 million Omani Rials, we are sure that we can make a meaningful comparison. According to Schipper (2003) says that without standards, we cannot get the core aspect of assurance, for instance, whether Fathiya Company is considering the orders of the future as current sales or releasing a big amount of its expenses.

Business without Accounting Standards:

It was clear that accounting standards are very important to any business. Businesses can do whatever they want to reach certain goals without the need for accounting standards, but not as well as businesses that take accounting standards into account. Without accounting standards, businesses cannot guarantee that they will consider their future list of objectives or will leave some expenses. Furthermore, businesses cannot organize operations with their customers, suppliers and even competitors without applying at least some accounting standards. Moreover, if businesses do not apply accounting standards, they definitely will not be able to structure their business well and will lead to the corporate values to be missed.Elliot, B. and Elliot, E. 'Financial Accounting and Reporting' 13th edition, 2009 Chapters 5 and 7.

Accounting Standards in Oman and abroad:

Oman has prepared the financial statements in accordance with International Accounting standards (IAS), the interpretations which are prepared by the Standing Interpretation Committee of the IASC and the requirements of the Commercial Companies Law of the Sultanate of Oman and the requirements set out in the rules for disclosure issued by the Capital Market Authority of the Sultanate of Oman, the disclosure is inadequate and is a negative phenomenon to a country which wishes to be strengthened further a good economy. Accounting standards in Oman may be somehow related to the accounting standards outside Oman, because, in some extent, they all come under the International Accounting Standards Committee (IASC).

Recommendations and Conclusion:

As an accounting student, I recommend all companies in Oman to have a set of accounting standards and reports in order to build a reliable business that can rank them in the top of the list of good companies.

To conclude, we should think of accounting standards as the key of success for different business enterprises. In addition, if companies apply accounting standards well, other companies will look up to them to do business strategies as well as they do.

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