Harmonisation of International Accounting Standards Essay

Harmonisation of International Accounting Standards - Essay Example The cultural environment of a country plays a significant role in determining the development of its accounting standards and financial reporting system. Infact, it is supposed to have acted as the foundation stone upon which the origin of accounting rests. As Baladouni (1979, p326-327) points out that "the origin, content, or mode of being of accounting was found to be based on cultural and social forces". The accounting structure of a country depends upon social and cultural values prevailing in a society and hence the environment plays an essential role in the diversification of accounting standards among different countries. Mueller (1968) illustrated that the social and environmental conditions the development of accounting standards and principles are the currency composure and balance, legal and political pressures, segregation of ownership and control, economic development and literacy status etc. Nair and Frank (1980) said that the accounting principles and techniques of a c ountry are influenced by its cultural and economic environment. Baladouni (1979) further commented that the â€Å"cultural framework† specifies a group of institutions in the society, representing the most important part of its culture and the feature of general social activities that influence the development of accounting functioning. To assess the basis of distinctness and contrariness lying amongst various cultures, the research carried out by Hofstede is significant as it studies different dimensions.... y depends upon social and cultural values prevailing in a society and hence the environment plays an essential role in the diversification of accounting standards among different countries. Mueller (1968) illustrated that the social and environmental conditions the development of accounting standards and principles are the currency composure and balance, legal and political pressures, segregation of ownership and control, economic development and literacy status etc. Nair and Frank (1980) said that the accounting principles and techniques of a country are influenced by its cultural and economic environment. Baladouni (1979) further commented that the "cultural framework" specifies a group of institutions in the society, representing the most important part of its culture and the feature of general social activities that influence the development of accounting functioning. To assess the basis of distinctness and contrariness lying amongst various cultures, the research carried out by Hofstede (1980, 1983 and 1987) is significant as it studies different dimensions of drawing a comparison and distinction between different cultures prevailing in different nations influencing upon their accounting standards. The four dimensions pointed out by Hofstede (1987, p4-5) best illuminate the ground on which we can rest the reasons behind major cultural differences among various countries. These dimensions are as follows: Power Distance: This refers to the distance or balance of power between the giant and the small dwelling in the society. It is about how responsible a society evaluating the distribution of power among different members of the society. This aspect may vary form nation to nation as not every nation equally distributes the power among its members. Uncertainty

Russells On Denoting Essay Example | Topics and Well Written Essays - 2000 words

Russells On Denoting - Essay Example Russell (1905) claimed that Meinong’s theory had difficulties as it â€Å"regard denoting phrases as standing for constituents of the propositions in whose verbal expression they occur†¦ This theory regards any grammatically correct denoting phrase as standing for an object† (p 482). And the main difficulty of this theory was that it was â€Å"apt to infringe the law of contradiction† (p 483). Russell’s critiqued on Meinong’s theory raised three important points: first, on the concept of subsistence. Russell maintained that if we presupposed that ‘It is false that A differs from B’, then ‘the difference between A and B does not subsist’. However, in Meinong’s theory since a denoting phrase was standing for an object, then, the denoting phrase ‘the difference between A and B’ must stand for an object. Therefore, the ‘difference between A and B’ must subsist. In this case, the self-contra diction was made apparent. As it was affirmed that ‘the difference between A and B’ must subsist (Meinong’s theory), so too the preposition ‘the difference between A and B does not subsist’ is affirmed on the statement â€Å"It is false that A differs from B†. (Sutler 1967). The second counter-argument rests on the concept of existence. Take the example ‘The King of France is bald.’ Again, using Meinong’s theory, as grammatically correct denoting phrase stand for an object then the statement must be true. But it is a known fact, within the frame of a particular time the preposition ‘the King of France is bald.’ does not stand or signify for any object.