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Advanced Financial Reporting and Theory
Finance & Accounting
Pages 7 (1757 words)
The international business scenarios has evolved in the last decades more than it had for many previous years.This growth is a result of advancements in information technology.There are two aspects of information technologies which have affected the global business scenario
This accelerated growth is a result of advancements in information technology. There are two different aspects of information technologies which have affected the global business scenario. These technologies have made micro management of businesses very easy and secondly they have totally revolutionized communication. Systems like SAP make it possible to micro manage organizational divisions from thousands of miles away using information technology communication tools. All multinationals have adopted these systems and through these systems have been able to expand all around the globe. Moreover organizations strive to compete in international markets and adapt to changing market needs. Thus to compete with international conglomerates, local organizations have to evolve themselves according to global systems. Similar to organizations other stakeholders of financial information are also becoming global; these include financial investors, financial analyst, auditors etc. Global financial houses such as Goldman Sachs etc. have presence all around the global. Similarly companies such as Deloittes, KPMG, PWC and Ernest & Young are present in almost all countries of the world. Direct users of financial information o i.e. shareholders are also becoming more and more global. Most exchanges whether currency, stock or bond have online trading systems. ...
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