| Globalization is changing the world of accounting | | | | have to their business structure. This will overall |
| and business right before our eyes. It is taking the | | | | advance the world's entire business empire. |
| level we are at with our knowledge and expanding | | | | As I said earlier, with positives there also comes a |
| it to greater heights. When it comes to education, | | | | negative side. The attempt to come together as |
| the process in which we are taught will need to | | | | one business sector can lead to rivalry between |
| be revamped. This will put the new accounting | | | | nations and reverting back to bourgeoisie and |
| students at an advantage at first, as the older | | | | proletariat type behaviors. The developed nations |
| ones will already have learned the concepts only | | | | will begin to show entitlement because they have |
| at a national level. However, once iGAAP is | | | | already established their economy and are striving, |
| brought into action, accounting students will have | | | | where as underdeveloped nations who want to |
| a greater knowledge of accounting concepts at an | | | | try to expand could see difficulty trying to break |
| international stance. This change is bringing | | | | into higher devolved business structures. These |
| together the world and to become one large | | | | nations will need to break into economies of an |
| business sector. The advantages of this change | | | | already well flowing business structure, with the |
| can exceed the expectations of the business | | | | developed nations feeling empowered; this can |
| world, although with any positive change, negative | | | | lead to a problem for the future of globalization. |
| issues will arise. | | | | Along with the upper and lower class issues, |
| As it begins to take effect, countries with a | | | | technology, even though it can be promising, |
| sparse business world will be able to join the rest | | | | shows a problem for the advancement of |
| of the worlds programs. This will influence their | | | | globalization as well. Developed nations, once |
| economy in a huge way, as it will drive sales | | | | again, have the edge in this area. Our business |
| revenue with other nations upward. It is opening | | | | systems have been given the tools to work with |
| the door for expansion. This can help the less | | | | sophisticated programs on computers to take |
| wealthy nations build, but it can also bring | | | | some of the work out of accounting procedures. |
| investment opportunities for striving nations to | | | | For globalization to take full affect, |
| make around the world with the lesser-known | | | | underdeveloped nations will need to adapt to |
| nations. Not only does that benefit the investors, | | | | these ways and supply their nations with the |
| but the investees as well for it will bring income | | | | technology that we have available, forcing the |
| and strengthen their companies. When these | | | | funds for that to come from somewhere else. |
| opportunities come about, accountants will need | | | | Although, that has its negative effects financially, |
| to be able to handle multiple nations accounting | | | | that change will bring education of the financial |
| systems by learning the techniques of iGAAP. The | | | | software into countries where before it was not |
| education of this type of accounting has only | | | | available. |
| begun recently and is still in the works of | | | | Globalization can expand the minds of not only |
| becoming the main form of accounting over | | | | underdeveloped nations but highly developed, |
| GAAP. Needing to understand and having a | | | | functioning nations as well. The change with bring |
| universal accounting regime taught. This will involve | | | | technology expansion and higher levels of |
| an entire revamping of the accounting | | | | education throughout the world while bringing a |
| departments materials and mission. Although the | | | | unification of accounting process and other |
| work that would need to be put in to make | | | | business practices. Though the negatives of |
| Americas accounting students up to par with the | | | | having to rewire minds, technology and nations |
| world would be steep, the turn out for the | | | | are copious, the positives greatly exceed with the |
| students in the future would increase. | | | | advancements that globalization can bring. |
| The accounting and the education process | | | | |
| changing is a task, but the end result will lead to | | | | |
| new career opportunities for upcoming accounting | | | | Works Cited |
| and business degree students. With students | | | | Borade, Gaynor. "Bad Effects of Globalization." |
| learning accounting at an international level, they | | | | Buzzle Web Portal: Intelligent Life on the Web. |
| will be capable of obtaining a job in not only the | | | | Web. 26 Mar. 2010. . |
| United States, but other nations as well. Up until | | | | Burbules, Nicholas C., and Carlos Alberto. Torres. |
| now, our processes and laws were slightly | | | | Globalization and Education: Critical Perspectives. |
| different from the rest of the world. This limited | | | | New York: Routledge, 2000. Web. 26 Mar. 2010. |
| the current and previous generations from | | | | Ganguly, Poushali. "Pros and Cons of Globalization." |
| expanding outside the comforts of our business | | | | Buzzle Web Portal: Intelligent Life on the Web. |
| world, dealing with only national accounts. The | | | | Web. 26 Mar. 2010. . |
| advantages of the expansion are endless. It is | | | | Herdman, Robert. "SEC Speech: Moving Toward |
| going to boast the welfare of our nation's | | | | the Globalization of Accounting Standards (R. |
| residents by giving them the chance to obtain a | | | | Herdman)." U.S. Securities and Exchange |
| job elsewhere in such hard economic times | | | | Commission (Home Page). US Securities and |
| throughout our country. As well as expanding our | | | | Exchange Commission, 18 Apr. 2002. Web. 26 Mar. |
| opportunities, we can bring our technology and | | | | 2010. . |
| other advancements other countries might not | | | | |