Accounting Reporting Criteria

Accounting Reporting CriteriaDuring the last few years, the regulatory surroundings has drastically changed in the United States. The drastic change was through aft(prenominal) the Tyco and Enron sandals were uncovered. The new changes are designed to help protect the American unrestricted who invest in companies in the United States of America. ulterior on the Tyco and Enron sandals, a light bulb went off at the governance. The government finally realized that they needed to step in to control that companies are honestly account their finances. The action that intercourse took was to yield the Sarbanes Oxley map of 2002. ?The forge details the requirements for financial report for public corporations and is overseen by the Securities and Exchange Commission. The Sarbanes Oxley Act requires all publically traded corporations to dramatize strict requirements for financial invoice system and reporting.? (Phillips, Libby and Libby, 2006)Although several differences per sonify among the accounting reporting criteria of the United States and each county, the global frame world requires a unique consideration. ?With heightened consumer protection becoming increasingly important, regulation of American reporting criteria such as The Sarbanes-Oxley Act (SOX) is common to hear? (Phillips, Libby and Libby, 2006) Since the U.S. has had so much attention customary to reposting regulations, other countries are finding it more difficult to respect their own regulations.

Other counties do not have such high levels of accounting criteria and when the U.S. deals with them extra caution is needed. Below legal philosophy squad A will identify, compare and contra st the accounting reporting criteria differe! nces between a U.S. keep company and a foreign company in regards to the regulatory environment, issues with foreign currency and differences in GAAP. comparability U.S. and foreign companies issues with the Regulatory EnvironmentEnvironmental accounting is to pull up stakes a care tool in the environmental area. This accounting tool purport indices for corporate... If you want to get a ripe essay, order it on our website: OrderEssay.net

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