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The international economic scenario
Finance & Accounting
Pages 4 (1004 words)
The international economic scenario has changed over the past few years. The reason for this change is the advancement of technology and especially information technology. The accounting requirement for businesses has also changed due to this change. …
The accounting requirement for businesses has also changed due to this change. Demands of stakeholders have changed when it comes to information. This is because stakeholders are also becoming global. Single investors holds portfolio of investments in many different regions of the world. Similarly companies invest in many different nations, thus the demand for accounting regulations has totally changed since the last few years. International Economy Online stock exchanges provide excess to capital to organizations from different areas of the world. A very good example would be NASDAQ allowing American firms to raise capital from as far away as Brunei. Another major reason of change in the global regulatory scenario has been the recent economic meltdown. The global economic meltdown is perceived as not only a failure of organizations ability to regulate them but also a failure of regulations and regulatory bodies. Therefore organizations are forced to look for markets beyond their home countries (Europe and USA) to alternate investment and capital sources. Thus in many ways the financial crisis is also forcing organizations to go more global. With going global comes the challenge of tackling many different financial systems and regulatory bodies. ...
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