International Financial Reporting Standards Essay - 4

International Financial Reporting Standards - Essay Example As such, it does not outline an industry specific platform that guides and regulates its style of reporting. The existence of financial reporting standards acknowledged across the global platform, such as IFRS, is important especially to multinational corporations and global companies that operate in different countries across the world, with subsidiaries and interests in countries with different approaches to financial accounting and reporting. Therefore, the existence of such internationally acknowledged reporting standards enables these corporations to consolidate their financial statements, especially when returning the profits from subsidiaries to the parent company. A good example of such a multinational corporation that has overseas subsidiaries is the MacDonald’s Chain of Restaurants, whose mother company is in the united states but is has a global presence with its restaurants located in major markets across the world such as Asia and Europe. Despite the numerous benefits that come about to international corporations with their use and application of the IFRS guidelines, its application is not so efficient as an accounting practice because it acts merely as a guideline and not as a rule, or a principle, which accountants should follow and adhere to when preparing and reporting financial statements. This rule out the possibility of all companies applying these standards in their reporting and preparation of financial statements because there is no legal means of enforcing these standards. The lack of a strict enforcement mechanism makes it very difficult for international companies to apply IFRS principles in accounting. As such, these companies only follow these rules out of choice, especially because they want to achieve a global look, rather than following the formalities. However, if in the event these companies, especially the multinational

PsyInfo Research Paper Example | Topics and Well Written Essays - 500 words

PsyInfo - Research Paper Example I chose the topic of autism because children with behavioral problems in general and autistic children in particular, hold my interest. When I was in school, I had a class mate who did not mingle much with us and kept very much to himself. I remember that some of the children used to make fun of him, and I was surprised to discover that he did not really notice much of the sarcasm and the jokes cracked at his expense. That caused me to be interested in finding out just what was wrong with him, and that is how I discovered much about autism. Currently, I am oscillating between becoming a psychologist or a social worker – I have not decided yet, for certain, which path to choose. However, irrespective of the final plan, I have decided to work with children with behavioral problems. There has been quite a bit of work done in this regard, but I feel it is not enough and there need to be more professionals who are involved with children with behavioral problems. Studying this topic and getting more information on it will help me in my plans, as whether I become a psychologist or a social worker, I am planning on making children my focus in this regard. I would prefer working as a child psychologist or a social worker specializing in children’s welfare. In this regard, I have chosen to make autism and behavioral problems my specialization. Pandey, J., Verbalis, A., Robins, D. L., Boorstein, H., Klin, A., Babitz, T., Chawarska, K., Volkmar, F., Green, J., Barton, M., & Fein, D. (2008). Screening for autism in older and younger toddlers with the Modified Checklist for Autism in Toddlers. Autism, 12 (5),