Masters Of Business Administration ( International Business )

INTERNATIONAL ACCOUNTING FLORIDA INSTITUTE OF TECHNOLOGY MASTERS OF BUSINESS ADMINISTRATION (INTERNATIONAL BUSINESS) ABSTRACT Author: Paul Manu Title: How can developing countries protect their unique interests in their attempt to make their economies more appealing to international investors through adopting harmonization.: The African perspective. Year: 2015 Pages: 10 Name of Professor: Dr.Achilles, Wendy The rapid ascent of globalization and internationalization on the world business stage has ushered in an era of standardization in most industries of the world markets. This is an attempt to provide an apple to apples scenario for business leaders in transactions. Recent†¦show more content†¦As such, certain international bodies like the (IASB) International Accounting Standards Board having perceived the need for this revolution, is spearheading the initiative to harmonize international accounting standards worldwide. This paper seeks to analyze how developing countries especially in Africa are progressing with the International Financial Reporting Standards adoption and measures they are putting in place to protect against economic imperialism where they are forced to accept accounting standards with no cost benefit to them, but solely to the proponents of the standards, which for the most part is the West. Keywords: International Financial Reporting Standards (IFRS), IAS TABLE OF CONTENTS 1.0 INTRODUCTION 4 1.1 Context 4 1.2 Objective of Study 5 1.3 Scope of Paper 6 2.0 IFRS and Emerging Economies of Developing Countries. 6 2.1 Adoption Conundrum 7 2.2 Weak Links in Africa (and other developing countries) that need to be adapted to IFRS. 7 2.3 Ways in which Emerging markets can aid with the IFRS process and have a beneficial say. 8 3.0 CONCLUSION 9 Reference: 10 1.0 INTRODUCTION 1.1 Context Almost every facet of our day to day lives especially to deal with trade has an international element to it now. Business are vying for the same markets, customers and market shares. Innovation is the order of sustainability. All these are backed by the availability of