ACCOUNTING STANDARDS OF US V UK

Accounting Standards of US V UK

Accounting Standards of US V UK

For the purpose of this assignment, we have selected Tesco & Wal-Mart. In comparison of accounting standards and regimes, it is evident that IFRS (Tesco) is often characterized as a basic concept for U.S. GAAP (Wal-Mart) were classified by the rules. In recent years, the FASB has stated repeatedly that the current approach of increase for this type of criticism for Enron, in particular rules more information on changing concepts and requested an investigation into the feasibility. In business, as rule-based therapies (see, for example, Vincent and colleagues, if not the real economic substance, the special accounting treatment, said that given the opportunity to structure transactions to meet the needs. 2003). Similarly, Sawabe (2005) as an approach to accounting standards based on international standards, the spread of revenue management in general to assert a cause associated with creative accounting instruments, he says.

At Tesco and Wal-Mart, the accounting standards (income and changes) is the comparison of the Pope and Rees (1992), US-GAAP adjustments are explained only a marginal possibility of adding profit. Comparison of U.S. GAAP, Amir, Harris and Venuti (1993), prepared more than 20 F reconciliations provided by local systems, which is reflected with the exception of U.S. taxpayers and stock prices, and therefore the market.

Previous studies to assess the quality of standards in the face of the regime can be divided into two groups: U.S. GAAP and IFRS, compared with other local regimes, according to local regulations. Are studies in line with the first group generally having two common characteristics? First, almost all the work is an example of the United States and the United States. U.S. GAAP and the reconciliation of equity as long as foreign taxpayers, and local laws to make the report, is an interesting place (called 20F reconciliation). The second quality is usually the stock price (or earnings) and the relationship between accounting data, the value is measured by applying models.

In general, it shows investors in U.S. stock markets in terms of results that reconciliations value. All studies comparing U.S. GAAP, while the U.S. stock market offers Harris, Lang and Möller (1994) in a single study, an analysis of the relevance of the accounting for the value of trade. Harris et al is similar to the work of the U.S. stock market. This association was not calculated for Tesco and Wal-Mart, separately for the stock markets of UK and America. Explanatory power of the German income tax, but the explanatory power of equity in Germany is comparable to U.S. earnings significantly lower than that of the United States of America.

Research on quality difference between U.S. GAAP and IFRS is less. Harris and Muller (1999), for example, using data on U.S. inventories, in particular house, to create the IFRS, and an example for foreign companies to IFRS, U.S. GAAP. Reconciliation Form F 20 documents to cross list. The value is defined in terms of price and performance models to offer added ...