Contemporary Study of the Impact of Standardization and Harmonization Dissertation

Contemporary Study of the Impact of Standardization and Harmonization of Accounting Standards - Dissertation Example However, the existence of dissimilar accounting practices can be a crucial challenge linked with the aforesaid procedure. In this similar context, ethical dilemma plays an imperative part in harmonising along with standardising the accounting standards as it concerns certain significant moral values that include honesty, reliability, durability and integrity among others. From research methodological viewpoint, both quantitative as well as qualitative research approaches have been taken into concern. Moreover, valuable data associated with this research study has been collected through the execution of structured interviews in the form of questionnaires that has been administered to the officials of the companies following different accounting standards like IASB and IFRS among others. Besides, hypothesis testing by utilising a statistical tool of correlation as a form of meta-analysis has also been considered for this particular research study. Table of Contents Abstract 2 Chapter 1 : Introduction 5 1.1Background 5 1.2Research Problems 6 1.3Research Aims and Objectives 7 1.4Methodological Overview 8 Chapter 2: Literature Review 10 2.1 Importance of Standardization and Harmonization of Accounting Standards 10 2.2 Advantages of Standardization and Harmonization of the Accounting Standards 12 2.3 Challenges of Standardization and Harmonization of the Accounting Standards 14 2.4 Role of Ethical Dilemma in Standardization and Harmonization of the Accounting Standards 15 2.5 External Influencing Factors to Support or To Oppose the Benefits of Standardization and Harmonization 17 Chapter 3: Research Methodology 19 3.1 Research Design 19 3.2 Data Collection and Evaluation 22 3.3 Ethical Consideration 24 Chapter 4: Findings 25 4.1. Benefit of Standardisation and Harmonisation to Its Users 25 4.2 Benefits Accordingly Achieved by Companies in the Recent Phenomenon 26 4.3. Role of Ethical Dilemma in Obtaining the Benefits from Standardisation and Harmonisation 29 4.4. Exte rnal Influencing Factors to Support or To Oppose the Benefits of Standardization and Harmonization 30 4.5 Hypothesis Testing 37 Chapter 5: Discussion 40 5.1. Reasons or Motivations behind Standardisation and Harmonisation of the Accounting Standards 40 5.2. Advantages and Challenges of Standardization and Harmonization of the Accounting Standards 43 Chapter 6: Conclusion and Recommendations 49 References 53 Bibliography 61 Appendix 64 Chapter 1: Introduction 1.1 Background The perception of standardisation is fundamentally described as the process of creating uniform business methods throughout different locations or divisions. This particular concept tends to diminish the jeopardy of failure by consistently complying with the business related operational expenditures as well as the performance based objectives (Richen & Steinhorst, 2005). Relatively, the conception of harmonisation is commonly described as the adjustment of the inconsistencies or the differences prevailing amid var ious business policy standards, procedures, specifications and protocols (NSCA, n.d.). Contextually, the Accounting Standards (ASs) are primarily recognised as the specific guidelines which are duly authorised by the skilled professionals relating to any accounting, regulatory or government body. The ASs comprises the significant