Author

Renee Haas

Publication Date

1-1-2001

Document Type

Dissertation/Thesis

First Advisor

Smith, Pam

Degree Name

B.S. (Bachelor of Science)

Department

Department of Accountancy

Abstract

Cross-border financial statements can confuse users of financial statements, therefore the development ofInternational Accounting Standards is important in the accounting profession. Comparing countries financial statements can be difficult because Generally Accepted Accounting Principles (GAAP) vary in different countries. To illustrate the need for harmonization of accounting standards, this paper is divided into three research sections. The first section discusses the history, organizations, and conceptual framework of United States and Australian accounting professions. The second section compares and contrasts the similarities and differences between United States GAAP and Australian GAAP. The final section provides a financial statement analysis of two Australian companies. The paper concludes that although Australian GAAP and United States GAAP defines financial statement elements the same, a companies' financial statement ratios will differ because of country specific revenue recognition criteria, netting of assets and liabilities, and reporting requirements.

Extent

42 pages

Language

eng

Publisher

Northern Illinois University

Rights Statement

In Copyright

Rights Statement 2

NIU theses are protected by copyright. They may be viewed from Huskie Commons for any purpose, but reproduction or distribution in any format is prohibited without the written permission of the authors.

Media Type

Text

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