Globalization and Accounting

In most developing nations, such as Ghana, SMEs provide a significant portion of the GDP to ensure economic growth, employment, income stability, and poverty alleviation. Despite the aforementioned duties, most of these SMEs are currently failing as a consequence of poor performance. By this, the study investigates accountants’ competence and independence in delivering accounting services to small and medium-sized organisations as a method of sustaining their vitality and allowing them to play the expected crucial roles as the engine of growth in the country’s economic development. The study delivered questionnaires to a sample of eight hundred and seven (807) employees who were selected using the purposive sampling technique from the targeted demographic. The descriptive and inferential quantitative techniques were utilised to investigate the influence of the independent factors on the dependent variable in the Cape Coast Metropolitan Assembly. Descriptive statistics such as freque...

The paper presents the concepts of conceptualization of economic diplomacy, which is a form of state activities relations directed towards relations with other countries and international organizations aiming to increase exports and attracting foreign investments. Given that economic growth and development are the primary goal of the country in which is invested, as well as the countries of investors who are also acting in the direction of increasing their profits, in international economic relations economic diplomacy is becoming a key instrument in their achievement. Its role is particularly evident in countries that are going through the transition period and in countries where political representatives have a strong influence on economic decision-making. Through the application of scientific-research, analytical-synthetic and statistical data in the paper the consequence of the economy and the financial market of economically developed countries is emphasized, which resulted in ...

Historically, financial reporting standards have been developed individually by each state. Sometimes standards are set by governments, and in some cases even by the accounting professionals or independent accounting boards. This scientific research fills a scientific, theoretical or practical gap, in removing the dilemmas regarding pro or against the implementation of IAS / IFRS. This research has been conducted by comparing KAS, laws and regulations of various countries as well as disputes and problems without solutions in the field of accounting, with IAS / IFRS

Historically, financial reporting standards have been developed individually by each state. Sometimes standards are set by governments, and in some cases even by the accounting professionals or independent accounting boards. This scientific research fills a scientific, theoretical or practical gap, in removing the dilemmas regarding pro or against the implementation of IAS / IFRS. This research has been conducted by comparing KAS, laws and regulations of various countries as well as disputes and problems without solutions in the field of accounting, with IAS / IFRS

In most developing nations, such as Ghana, SMEs provide a significant portion of the GDP to ensure economic growth, employment, income stability, and poverty alleviation. Despite the aforementioned duties, most of these SMEs are currently failing as a consequence of poor performance. By this, the study investigates accountants’ competence and independence in delivering accounting services to small and medium-sized organisations as a method of sustaining their vitality and allowing them to play the expected crucial roles as the engine of growth in the country’s economic development. The study delivered questionnaires to a sample of eight hundred and seven (807) employees who were selected using the purposive sampling technique from the targeted demographic. The descriptive and inferential quantitative techniques were utilised to investigate the influence of the independent factors on the dependent variable in the Cape Coast Metropolitan Assembly. Descriptive statistics such as freque...

The subject of research in this work is the accounting of non-financial enterprises on a global scale. The subject of the article is to develop a global accounting framework for preparing and presenting the financial statements of business enterprises. The primary objective of the study is by analyzing the applicable accounting frameworks of IFRS, US and EU to derive the concept of financial reporting fundamentals. In the article is supported the thesis that the integration of different national accounting legislation and internationally applicable accounting frameworks is a theoretical and practical possible and feasible process at the center of which lies the deductive conceptual approach. The ultimate outcome of accounting integration will be reflected in the global adoption of the concept that financial reporting is a whole, comprehensive and complete process that aims to provide high quality information about the entity's business, the results achieved and the effectiveness of its operations, the changes in its cash flows and equity. The research approach is aimed at carrying out a structural analysis of the fundamental rules, norms and requirements of the conceptual frameworks of IFRS and the US Generally Accepted Accounting Principles as well as the EU Accounting Regulations. On this basis, on the one hand, the basic similarities and resemblances of the accounting frameworks in question are systematized and, on the other hand, their most significant contradictions are summarized. An attempt has been made to outline the factors, conditions and circumstances that have led to the establishment and adoption of different concepts in the accounting and presentation of financial statements of business enterprises. The article presents the role and importance of the processes of harmonization, convergence and adaptation of accounting rules as part of the evolutionary development of financial reporting. The author draws special attention to the fact that the integration of financial reporting should not be absolutized. Accounting globalization implies that, at global level, basic concepts, principles, rules and bases of accounting and presentation of aggregated accounting information are adopted in the financial statements of enterprises but at the same time hierarchically subject to specific rules and norms corresponding to the local , national and regional specificities. Although a global consensus has been reached on the purpose of financial reporting, at an individual enterprise level, accounting needs to meet the objectives, requirements and needs of both the owners of the capital and the external users of the summarized accounting information. In this regard, the European Union's experience with the enterprise categorization approach and, for each category, the applicable accounting basis and the minimum requirements for the content and structure of the financial statements can be successfully used internationally.

The article reviews the new harmonized European accounting legislation and its impact on accountancy and drawing the financial statements of large enterprises in Bulgaria. We analysed the transposition of the fundamental accounting Directive 2013/34/EU into the new Accounting Act of 2016. The subject matter of research in the article are the financial statements of the profit-oriented enterprises. The subject matter of the article includes the new requirements towards the elaboration of the annual financial statements of the category "large enterprises" regulated in the Accounting Act. The objective of the article is to research "de jure" and "de facto" the alleviations for financial accountancy of the large enterprises and disclose the reasons behind and expected to bring about in the future discrepancies between the "letter of the law" and its enforcement. Author's thesis is that there is very weak relation and coordination among the regulatory bodies in the accounting area and the needs of the real business environment in Bulgaria. We have researched the statutory opportunity with which large enterprises are provided, namely in 2017 to modify the accounting basis enforceable towards them on drawing and presenting the financial statements from International to National accounting standards. We have considered the accounting procedures to be performed by these enterprises for the first time in the history of accounting standards in Bulgaria. Additionally, arguments were presented of the representatives of large enterprises for and against the transition from International accounting standards to National accounting standards. We have analysed the new requirements towards the elaboration and publication of the annual financial statements of the large enterprises. The special focus is on the contents of the new components-"Non-financial declaration" and "Report on payments towards the government" created in order to disclose additional information about the policy being implemented by the enterprises. The nonfinancial declaration aims at making public the enterprise activities in the area of ecology, social issues and the ones related to employees, human rights, counteracting corruption and gender equality in the company management. The report on payments towards the government is mandatory to the large enterprises and the ones of public interest in the extraction industry or logging from virgin forests in the EU and is being introduced in order to achieve higher transparency of payments received from the state, in relation to rights with which individual enterprises are provided to national natural resources. Scope of payments towards the government includes the payments effected for production rights, fees, dividends, license fees, rental fees, entrance fees and other concerns on issuing licenses and/or concessions etc.

In most developing nations, such as Ghana, SMEs provide a significant portion of the GDP to ensure economic growth, employment, income stability, and poverty alleviation. Despite the aforementioned duties, most of these SMEs are currently failing as a consequence of poor performance. By this, the study investigates accountants’ competence and independence in delivering accounting services to small and medium-sized organisations as a method of sustaining their vitality and allowing them to play the expected crucial roles as the engine of growth in the country’s economic development. The study delivered questionnaires to a sample of eight hundred and seven (807) employees who were selected using the purposive sampling technique from the targeted demographic. The descriptive and inferential quantitative techniques were utilised to investigate the influence of the independent factors on the dependent variable in the Cape Coast Metropolitan Assembly. Descriptive statistics such as freque...

The application of Directive 2013/34/EU of the European Parliament and of the Council on annual financial statements, consolidated financial statements, and related reports of certain types of undertakings 2 required the introduction of some changes in current accounting regulations in Bulgaria. This paper focuses on issues related to applying the new Accountancy Act and some of the contradictions which have arisen as a result.

The poor culture of accounting practices in Nigeria, as well as manipulation of financial statements have attracted the attention of scholars' overtime to question the role of global ethics on accounting practices in Nigeria. In view of this, the main objective of this study dealt on the conceptual review of global ethical consideration and accounting practices in Nigeria. The study employed a review of literature by past researchers on the discourse. In conclusion, the study found that in Nigeria the culture of accounting promotes creative accounting practices, income smoothing and window dressing. Based on the findings, the study recommended that culture should be given adequate consideration in enforcement of global ethical rules and regulation among practicing accountants in Nigeria. Furthermore, professional bodies like Institute of Chartered Accountants of Nigeria ICAN, Association of National Accountants of Nigeria and financial reporting council of Nigeria. Should work in concensus in order to comply effectively with IFRS and global ethical rules and regulations.

Management is principally a bundle of decision-making processes. Decision-making is the process of selecting the best alternative among various available courses of action. The managers of any organization are responsible for achieving the vision, mission and operational and financial goals in particular. All the functions like planning, organizing, coordinating and controlling are dependent on the quality of the decisions made. In companies, no matter of their size, decisions are made on all hierarchical levels. Structured decision-making process is important for large corporations, but not less important for small and medium enterprises. The innovation capacity that enables the competitive points of difference, utilization of market opportunities and potentials depend on the accuracy and timing of the decisions. This paper discusses the different methods used in individual and group decision-making processes and their application in the small and medium enterprises in North Macedo...

The aim is to present the significance of state sovereignty trough a theoretical overview and analysis of the important concept in the realm of political theory-the notion of sovereignty. Also the paper will seek to create a comprehensive but easily understandable definition of sovereignty and its importance in international relations, especially in recognition of states. In this respect, the paper will clarify the concept of sovereignty, taking into consideration the transformations and challenges of the international security environment at the beginning of the 21st century. The paper presents the issue of state sovereignty in the field of international relations, where states, although theoretically equal among themselves, are hierarchically ranked according to their national performances which are eventually converted into power at the international level. It is analyzed, based on exploring the existing literature in the area of interest and with the help of direct observation, how the independent and sovereign states are able to integrate themselves into the international political context.

The economy of the R.M. did not have the necessary immunity to face the worldwide consequences of the global financial crisis that hit most of the western national economies a few years ago. in order to prevent and alleviate the negative consequences, the government of the RM during the period from 2008 to 2010 has taken some anti- crisis package of measures. The government has introduced four packages of anti-crisis measures in the period 2008-2010. The aim of this paper is to analyze how the government of the Republic of Macedonia facing with the 2008 financial crisis, how the government was implement the anti crisis measures and finally what is the impact of financial crisis in the business sector with special emphasize the Pollog region. A large scale survey in SME’s has been conducted in order to get a clearer picture from the business point of view.

The paper presents the concepts of conceptualization of economic diplomacy, which is a form of state activities relations directed towards relations with other countries and international organizations aiming to increase exports and attracting foreign investments. Given that economic growth and development are the primary goal of the country in which is invested, as well as the countries of investors who are also acting in the direction of increasing their profits, in international economic relations economic diplomacy is becoming a key instrument in their achievement. Its role is particularly evident in countries that are going through the transition period and in countries where political representatives have a strong influence on economic decision-making. Through the application of scientific-research, analytical-synthetic and statistical data in the paper the consequence of the economy and the financial market of economically developed countries is emphasized, which resulted in ...

The aim is to present the significance of state sovereignty trough a theoretical overview and analysis of the important concept in the realm of political theory-the notion of sovereignty. Also the paper will seek to create a comprehensive but easily understandable definition of sovereignty and its importance in international relations, especially in recognition of states. In this respect, the paper will clarify the concept of sovereignty, taking into consideration the transformations and challenges of the international security environment at the beginning of the 21st century. The paper presents the issue of state sovereignty in the field of international relations, where states, although theoretically equal among themselves, are hierarchically ranked according to their national performances which are eventually converted into power at the international level. It is analyzed, based on exploring the existing literature in the area of interest and with the help of direct observation, how the independent and sovereign states are able to integrate themselves into the international political context.

In recent years, a series of terrorist attacks have been carried out on European soil against state institutions, diplomats, foreign armed forces and civilians. With the new security challenges, there is a need for strong intelligence services, which will function in every aspect of the threats and will use all human and technical capacities. However, the use of these capacities as well as the results that will arise will depend on their operational capabilities. This means that human resources will have to be upgraded and directed deep into the root of this type of hybrid threat. If previously it was thought that the front of terrorist organizations is in Syria, Iraq, Afghanistan, etc., now the front has moved to Western European capitals and the United States. The ideology under which these attacks were carried out, defined as terrorist, is the driving force behind the emergence of hybrid threats. After facing such phenomena, the need to study them and obtain as much information a...

The article presents an analysis of problematic issues concerning the adaptation of the national accounting and financial reporting system of Ukraine to the International Financial Reporting Standards (IFRS). The chosen topic is relevant because of the fact that the domestic economic system is increasingly dependent on the globalization of economic processes and information technologies in the world. The transition of Ukraine to the specified standards is a requirement of time and is conditioned by the necessity to fulfill the country’s contractual obligations for further integration with the European Union. The authors considered such world systems as IFRS and the Generally Accepted Accounting Principles (GAAP). The general features of these systems were analyzed.The authors have identified both the systematic advantages and the problems of adaptation of IFRS in Ukraine. Advantages include: providing more detailed, transparent, truthful and accessible information for users; raising...

Management is principally a bundle of decision-making processes. Decision-making is the process of selecting the best alternative among various available courses of action. The managers of any organization are responsible for achieving the vision, mission and operational and financial goals in particular. All the functions like planning, organizing, coordinating and controlling are dependent on the quality of the decisions made. In companies, no matter of their size, decisions are made on all hierarchical levels. Structured decision-making process is important for large corporations, but not less important for small and medium enterprises. The innovation capacity that enables the competitive points of difference, utilization of market opportunities and potentials depend on the accuracy and timing of the decisions. This paper discusses the different methods used in individual and group decision-making processes and their application in the small and medium enterprises in North Macedo...

The article presents an analysis of problematic issues concerning the adaptation of the national accounting and financial reporting system of Ukraine to the International Financial Reporting Standards (IFRS). The chosen topic is relevant because of the fact that the domestic economic system is increasingly dependent on the globalization of economic processes and information technologies in the world. The transition of Ukraine to the specified standards is a requirement of time and is conditioned by the necessity to fulfill the country's contractual obligations for further integration with the European Union. The authors considered such world systems as IFRS and the Generally Accepted Accounting Principles (GAAP). The general features of these systems were analyzed. The authors have identified both the systematic advantages and the problems of adaptation of IFRS in Ukraine. Advantages include: providing more detailed, transparent, truthful and accessible information for users; ra...

The article presents an analysis of problematic issues concerning the adaptation of the national accounting and financial reporting system of Ukraine to the International Financial Reporting Standards (IFRS). The chosen topic is relevant because of the fact that the domestic economic system is increasingly dependent on the globalization of economic processes and information technologies in the world. The transition of Ukraine to the specified standards is a requirement of time and is conditioned by the necessity to fulfill the country’s contractual obligations for further integration with the European Union. The authors considered such world systems as IFRS and the Generally Accepted Accounting Principles (GAAP). The general features of these systems were analyzed.The authors have identified both the systematic advantages and the problems of adaptation of IFRS in Ukraine. Advantages include: providing more detailed, transparent, truthful and accessible information for users; raising...

The article reviews the new harmonized European accounting legislation and its impact on accountancy and drawing the financial statements of large enterprises in Bulgaria. We analysed the transposition of the fundamental accounting Directive 2013/34/EU into the new Accounting Act of 2016. The subject matter of research in the article are the financial statements of the profit-oriented enterprises. The subject matter of the article includes the new requirements towards the elaboration of the annual financial statements of the category “large enterprises” regulated in the Accounting Act. The objective of the article is to research “de jure” and “de facto” the alleviations for financial accountancy of the large enterprises and disclose the reasons behind and expected to bring about in the future discrepancies between the “letter of the law” and its enforcement. Author’s thesis is that there is very weak relation and coordination among the regulatory bodies in the accounting area and th...

Small Medium-Sized Enterprises (SMEs) is one of the most important engines of economic growth in Albania. They make a significant contribution to local and global trade and also to the national economic development. SMEs have the largest proportion of total Albanian employment, almost 78% of the total number of employed people. They generally face difficulties in financing and investing decisions, globalization, and other matters, mainly because of their inappropriate formal financial reports. These enterprises must prepare adequate financial statements and proper accounts to deal with third parties’ needs and ensure stakeholder’s confidence. This requires financial statements to be prepared by international financial reporting standards (IFRS), national accounting standards, and local government laws. Therefore, the International Accounting Standards Board (IASB) provided a new standard to ensure the required financial reporting quality for SMEs. The main focus of this study is to ...

The article presents an analysis of problematic issues concerning the adaptation of the national accounting and financial reporting system of Ukraine to the International Financial Reporting Standards (IFRS). The chosen topic is relevant because of the fact that the domestic economic system is increasingly dependent on the globalization of economic processes and information technologies in the world. The transition of Ukraine to the specified standards is a requirement of time and is conditioned by the necessity to fulfill the country's contractual obligations for further integration with the European Union. The authors considered such world systems as IFRS and the Generally Accepted Accounting Principles (GAAP). The general features of these systems were analyzed. The authors have identified both the systematic advantages and the problems of adaptation of IFRS in Ukraine. Advantages include: providing more detailed, transparent, truthful and accessible information for users; ra...

Financial reporting must meet many criteria to be considered high quality because it is the quality of information that determines the viability of future strategic decisions. The article investigates the essence of the concept of "quality" and "quality of financial information", and defines indicators and criteria of the financial reporting quality. As for the quality of the financial reporting, it is found that the latter is a structured reflection of financial condition and financial results of the entity, therefore, can be regarded as a set of components: quality of the financial information; quality of presentation of the financial information. It was found that the quality of the reporting of financial information is evaluated using a system of indicators that are qualified by the Financial reporting framework as the qualitative characteristics of useful financial information and National Accounting Statement (standard) 1 as the qualitative characteristics of financial reporting. In terms of formalization (presentation within the legislation forms) of the financial information presentation in Ukraine, we can speak of quality only in respect of the notes to the financial statements. It has been established that quality assessment indicators of presenting the financial information in the notes may be: readability of the information, visualization of the representation. Research of the quality requirements for the financial statements (information) of the participating countries of the former Soviet Union has identified many variations, but the most commonly used features are relevance, reliability, comparability and understandability. It is indicated that most post-Soviet countries, including Ukraine, gradually bring its legislation on the regulation of financial statements in conformity with IFRS. But there are still many unresolved differences, chief among which are the qualitative characteristics of the financial statements that should provide the information needs of different user groups.

, appropriately structures the book so that it is useful to the large majority of introductory accounting students who will not be accounting majors. Indeed, he challenges these students to consider carefully whether modern accounting, in light of the financial turmoil that began in 2007, is meeting the needs of users of accounting information. He writes in the preface, "I believe that you have a responsibility to evaluate critically every concept you are about to learn. And I also believe that you have a responsibility to use these concepts to evaluate critically every business decision, every company, every senior manager, and every board member you encounter in your careers. I want you to decide for yourself, as your understanding of financial accounting matures, whether you think that the accounting profession is doing its job." By issuing such a challenge to his readers, the author is of course issuing a challenge to himself. If he expects students to analyze accounting so critically, he must provide them with the tools to do so, and he must stimulate their thinking along such lines. I believe he largely succeeds in this task. I have taught introductory accounting for almost 20 years, and as I read this book, I found myself continually noting particularly felicitous phrasing that I could use to crystallize concepts for my students. Professor Monger has a flair for precise, clear explanations. I also found, time and again, flow charts that I could adapt for use in my course. My primary concern with the text is its focus on IFRS, which limits its usefulness for potential U.S. adopters. Given the current pace and status of IFRS convergence with U.S. GAAP, some of the accounting standards in the book will not be appropriate for U.S. courses for at least a few years. A few obvious examples include the revaluation reserve that affects owners' equity and the complete omission of Last-In, First-Out inventory valuation. Other phrases are uncommon in the U.S., such as "scrip issue" instead of stock dividend and "diminishing balance" instead of declining balance depreciation ͑though the latter phrase is mentioned in passing͒. I do not believe these issues affect the usefulness of the text for non-U.S. users. Indeed, I do not believe they have much effect on the usefulness of the text for U.S. students who do not intend to be accounting majors. However, unless this text is paired with an IFRS-based intermediate accounting text, accounting majors in the U.S. may find the different terminology and standards confusing. The text is divided into five parts and 13 chapters. For the most part, these chapters are the ones found in any introductory text, with two significant exceptions ͑Chapters 6 and 13, discussed below͒. Part I, which includes three chapters, provides students with a general understanding of financial reports. Chapter 1, "The Financial Accounting Reporting System," answers the most basic questions: What is accounting, what are the financial statements, and what is GAAP? Chapter 2, "Accounting Standards and Ethics," explains how IFRS

The Relationship Between Conflict and Globalization
Conflict is as old as human existence. It is a universal part of human society, it is within us to have conflicting values, viewpoints, or ideas that can depend upon economic, social, cultural aspects. It is important for us to analyze the meaning of conflict and where it can lead us to. With the analysis of conflict, we can also prevent future conflict and strive towards more peaceful resolvement. Conflict comprises so many different forms of conflict, from forced migration, resource conflict, structural violence, trade wars, and civil wars as well, we can see how these can be intertwined with global affairs and relations. Overall, many types of conflict are related to globalization, this could be because of differing values, viewpoints, religion, ethnicity, etc. and this can range from migration to trade, it is important to understand the differences of these conflicts and how they relate to globalization.

Indian companies follow Anglo-American model of corporate governance in which shareholders are the
owners of the company. Since manager's pay package is linked to performance, their focus would be on short term
maximization of profits whereas shareholders look for value maximization. This conflict of interest creates agency
cost. From an Indian perspective, big family conglomerates have become public limited companies. Promoters
continue to hold high percentage of holding. For e.g. Reliance Industries promoter holding is 46.53%, Wipro
73.34%, HCL technologies 60.38%, Jindal steel 61.89%, Adani ports 49.82% and so on. This paper examines the
shareholding pattern in Sensex 30 companies and the impact of promoter holding on performance indicators.
Secondary data which comprises of the published financial data of these 30 companies have been used to arrive at
the findings and inferences. The paper also highlights other aspects about high promoter holding which are unique
from an India context
Keywords: Promoter holding, Anglo American Model of governance, Agency cost, Dominant shareholder,
Minority shareholder

Time, the only non-replaceable resource is quite difficult to manage, although as it has been studied over and over again time management can be of crucial importance for a contemporary business organization. Individuals and managers in particular, must learn how to make the best out of their time and use time management as a tool in gaining and maintaining a competitive advantage. Although, researchers from throughout the world have managed to identify and develop hundreds if not even thousands of different time management approaches and techniques, it can be easily argued that such techniques are unknown when it comes to business in the Republic of Macedonia in general and the Pollog region in particular. But, the lack of a scientific approach does not necessarily mean a lack of dedication to a better usage of time by employees and managers alike. The paper strives to present the results of a rather extensive field research on time management implemented by the authors in over fifty business entities in the region.

The study was about the International Accounting Standard Board Conceptual Framework which sets out a comprehensive set of concepts for financial reporting, standard setting, and guidance for preparers in developing consistent accounting policies and assistance to others in their efforts to understand and interpret the standards. The study adopts conceptual review approach which centred on discourses within the range of documentary evidence emanating from the international accounting standards board, professional accounting bodies and academic research. The article also discussed the status and purpose of IASB conceptual framework which comprises of the objective of financial reporting, qualitative characteristics of useful financial information, the elements of financial statements, financial statement and the reporting entity, recognition and de-recognition, measurement, presentation and disclosure and concepts of capital and capital maintenance. Therefore, the study concluded that the Framework is not a standard but the purpose is to assist the Board in developing standards and help preparers develop consistent accounting policies.

The subject of research in this work is the accounting of enterprises on a global scale. The subject of the article is to develop a global accounting framework for preparing and presenting the financial statements of business enterprises. The primary objective of the study is by analyzing the applicable accounting frameworks of IFRS, US and EU to derive the concept of financial reporting fundamentals. In the article is supported the thesis that the integration of different national accounting legislation and internationally applicable accounting frameworks is a theoretical and practical possible and feasible process at the center of which lies the deductive conceptual approach. The ultimate outcome of accounting integration will be reflected in the global adoption of the concept that financial reporting is a whole, comprehensive and complete process that aims to provide high quality information about the entity's business, the results achieved and the effectiveness of its operations, the changes in its cash flows and equity. The research approach is aimed at carrying out a structural analysis of the fundamental rules, norms and requirements of the conceptual frameworks of IFRS and the US Generally Accepted Accounting Principles as well as the EU Accounting Regulations. On this basis, on the one hand, the basic similarities and resemblances of the accounting frameworks in question are systematized and, on the other hand, their most significant contradictions are summarized. An attempt has been made to outline the factors, conditions and circumstances that have led to the establishment and adoption of different concepts in the accounting and presentation of financial statements of business enterprises. The article presents the role and importance of the processes of harmonization, convergence and adaptation of accounting rules as part of the evolutionary development of financial reporting. The author draws special attention to the fact that the integration of financial reporting should not be absolutized. Accounting globalization implies that, at global level, basic concepts, principles, rules and bases of accounting and presentation of aggregated accounting information are adopted in the financial statements of enterprises but at the same time hierarchically subject to specific rules and norms corresponding to the local , national and regional specificities. Although a global consensus has been reached on the purpose of financial reporting, at an individual enterprise level, accounting needs to meet the objectives, requirements and needs of both the owners of the capital and the external users of the summarized accounting information. In this regard, the European Union's experience with the enterprise categorization approach and, for each category, the applicable accounting basis and the minimum requirements for the content and structure of the financial statements can be successfully used internationally.

The article reviews the new harmonized European accounting legislation and its impact on accountancy and drawing the financial statements of large enterprises in Bulgaria. We analysed the transposition of the fundamental accounting Directive 2013/34/EU into the new Accounting Act of 2016. The subject matter of research in the article are the financial statements of the profit-oriented enterprises. The subject matter of the article includes the new requirements towards the elaboration of the annual for financial accountancy of the large enterprises and disclose the reasons behind and expected to bring about in the relation and coordination among the regulatory bodies in the accounting area and the needs of the real business environment in Bulgaria. We have researched the statutory opportunity with which large enterprises are provided, namely in 2017 to modify the accounting basis enforceable towards them on drawing and presenting the financial statements from International to National accounting standards. We have considered the accounting procedures to be performed by these enterprises for the first time in the history of accounting standards in Bulgaria. Additionally, arguments were presented of the representatives of large enterprises for and against the transition from International accounting standards to National accounting standards. We have analysed the new requirements towards the elaboration and publication of the annual financial statements of the large enterprises. The special focus is on the contents of the new components-created in order to disclose additional information about the policy being implemented by the enterprises. The non-financial declaration aims at making public the enterprise activities in the area of ecology, social issues and the ones related to employees, human rights, counteracting corruption and gender equality in the company management. The report on payments towards the government is mandatory to the large enterprises and the ones of public interest in the extraction industry or logging from virgin forests in the EU and is being introduced in order to achieve higher transparency of payments received from the state, in relation to rights with which individual enterprises are provided to national natural resources. Scope of payments towards the government includes the payments effected for production rights, fees, dividends, license fees, rental fees, entrance fees and other concerns on issuing licenses and/or concessions etc.

► The development of the Conceptual Framework is one of the most critical aspects in the convergence of US GAAP and IFRS as converged and new standards become more principles based and less prescriptive in nature. A sound conceptual framework becomes essential to ensuring that standard setters agree on the underlying concepts and definitions before developing converged standards.

La Globalización, tal como la conocemos hoy, encuentra en la piratería a uno de sus antecedentes.

Se puede afirmar que los piratas, impulsaron el proceso de la globalización, así como el saqueo desmedido, que en muchos casos fue el origen del capital y la riqueza de algunas naciones hoy económicamente poderosas

Globalization via the digital age is upon us, demanding a new ethics and an intercultural awareness while the dialectics of globalism and cyberspace mandate a committed reflection on what the synthesis between the digital realm and global citizenship entails. In many ways, the borders that previously separated us as citizens physically and culturally have begun to dissipate, replaced by a call for an intercultural accountability and a form of global citizenship that, on one hand, surpasses borders, patriotism, and nationalism alike, but while on the other, demands an understanding and respect for the cultural idiosyncrasies among us, acknowledging the unique existential paradox of universal citizenship that posits each of us as both stranger and citizen on a commonly shared globe.

What is cosmopolitan in the digital age? Is a global digital citizen the same as merely a digital citizen? While talk of digital citizenship has increased in recent years, usually centered on a capitalist drive, encouraging a full electronic participation in society and a responsibility to digital commerce, many questions remain unanswered.  Is the netizen the citizen of a democratic state, and of digital democracy? As a citizen of the world interacting online, how will one’s “rights” and “duties” be determined? And are these “rights” universal, and in such a case, what does “universal” mean? What are the legal parameters of netizenship, and what will they be as globalization further takes hold? Is democracy critical to citizenship, or is it not? What are the political landscapes of global citizenship in the digital age? And last of all, is the concept of digital citizenship even tangible? Is it real?

Corporate sector plays an important role in economic sphere in India. Good governance of companies will ensure healthy growth of corporate sector for economic growth of our nation.    After globalization corporate governance has been talked about in all circles. There has been lot of debate how Indian business enterprises are operating to balance the interest of different stakeholders. Basically corporate governance is the set of processes, customs, policies, laws, and regulations governing the way a corporation (i.e. business organisation) should be directed, administered and controlled to optimize productivity and the resulting gains for all stakeholders. Stakeholders include shareholders /promoters, board of directors, management, financers, employees, customers, vendors, society, community, government, etc. Therefore, a major part of corporate governance also involves exchanging information and managing relationship amongst these stakeholders in order to meet or satisfy their needs and interests.
As companies are artificial corporate citizens, board of directors is the real brain of a company. Now, companies are not only disclosing mandatory guidelines under clause 49 of listing agreement but also disclosing much information voluntarily. Now many companies are pursuing corporate governance rating from CRISIL, ICRA etc. Companies like Infosys are following even international guidelines such as UN Global compact policy 2000 on human rights, labour standards and environment issues, OCED principles etc. This paper attempts to study practises related to board of directors in selected Indian corporations.

Abstract: The developmentalist gaze of the Fair Trade movement is on Global South producers. In this article we turn our analytic gaze toward North American fair traders to explore the racialized, neocolonial power relations in which these movement actors are implicated. Section One is a brief historical sketch of Fair Trade certification. We argue that the certification system is a multi-sited, global institution that is shaped by and shapes neocolonial power relations in Fair Trade by exploring the consolidation and more recent splintering of the international certification system. Section Two provides a postcolonial critique of developmentalism, with a focus on the timing of development, in order to lay a foundation for the remaining sections. In Section Three we analyze the spatiality of Fair Trade, with an emphasis on what and who are missing from or erased by the structural and conceptual frameworks of Fair Trade. In Section Four we explore the relationship between Fair Trade, commodity fetishism, and the developmentalist conception of space/time propagated by Fair Trade advocates. Section Five is a critical analysis of the neocolonialist and racist discourse of Fair Trade, with a focus on the “helping” discourse. We contend that as Global North fair traders strive to “help” Global South producers, they re-entrench neocolonial narratives of white supremacy and the desire to develop.