Country Report - United Kingdom
Identify and analyze the international accounting and reporting practices of the United Kingdom.
This is a group project but the concepts that I am required to cover as my contribution are
1. accounting principles and practices of the country
2. cultural influences on accounting principles and practice
3. status of IFRS
4. similarities and differences between the country's financial reporting and GAAP
(You may not be limited to just these concepts)
All of the above-suggested concepts may be placed in comparison to U.S. GAAP or IFRS.
Note from the Professor:
Note that the words critically evaluate are important. A simple overview of the concepts presented in the book (i.e. "how to translate foreign financial statements") will not meet the requirements for this paper. The writer should analyze the topic, bring in relevant research, offer comparisons, and consider pros and cons, or implications for practice. These are simply a few of the contemplative practices that move a paper into the critical realm.
Follow the APA 6th Edition formatting and style guidelines. Research sources should include UMUC Web Databases (i.e. ABI/INFORM), scholarly journals, and reputable accounting or finance journals, as located through UMUC Web Databases. Articles from other scholarly journals and sources are also acceptable.