Cons and Pros of Internet - 16245 Words

Accounting and Business Research, International Accounting Policy Forum. pp. 5-27. 2006 5 International Financial Reporting Standards (IFRS): pros and cons for investors Ray Ball* Abstract—Accounting in shaped by economic and political forces. It follows that increased worldwide integration of both markets and politics (driven by reductions in communications and information processing costs) makes increased integration of financial reporting standards and practice almost inevitable. But most market and political forces will remain local for the foreseeable future, so it is unclear how much convergence in actual financial reporting practice will (or should) occur. Furthermore, there is little settled theory or evidence on which to†¦show more content†¦I shall try to shed some light on the topic but, as the saying goes, only time will tell. 1.1. Outline I begin with a description of IFRS and their history, and warn that there is little settled theory or evidence on which to build an assessment of the advantages and disadvantages of uniform accounting rules within a country, let alone internationally. The pros and cons of IFRS therefore are somewh at conjectural, the unbridled enthusiasm of allegedly altruistic proponents notwithstanding. I then outline my broad framework for addressing the issues, which is economic and political. On the ‘pro’ side of the ledger, I conclude that extraordinary success has been achieved in developing a comprehensive set of ‘high quality’ standards and in persuading almost 100 countries to adopt them. On the ‘con’ side, a deep concern is that the differences in financial reporting quality 6 ACCOUNTING AND BUSINESS RESEARCH that are inevitable among countries have been pushed down to the level of implementation, and now will be concealed by a veneer of uniformity. The notion that uniform standards alone will produce uniform financial reporting seems naà ¯ve, if only because it ignores deep-rooted political and economic factors that influence the incentives of financial statement preparers and that inevitably shape actual financial reporting practice. I envisageShow MoreRelatedThe Internet : The Pros And Cons Of The Internet786 Words   |  4 Pagesboth pros and cons when there is a discussion about the internet. We can learn so much of what we can read on the internet. Which is great news considering most of us are using the internet. To prove my point we visit page 116 in the book The Shallows, the book supports our solution. Nicholas G. Carr discusses all about the internet in our generation and how we use it. He talks about the internet being beneficial for us to attain useful knowledge. He also discusses the cons of the internet in ourRead MorePros and Cons of the Internet2810 Words   |  12 PagesMinistry of Education and Science of the Republic of Kazakhstan Kazakh British Technical University English Language Department RESEARCH PAPER Pros and cons of the Internet HUM 317 Spring 2008 Advisor: Balia Jalgasbaevna Jolamanova Done by Tikhonenko Christina Temirbekova Kamila Nadyrova Farida Supiyeva Nargiza Sagiyev Yerkebulan Group Friday 13:00 Almaty 2008 Acknowledgements We thank all people who helped us in this work, especially BaliyaRead MoreEssay on The Pros and Cons of the Internet795 Words   |  4 PagesPositive and Negative Aspects of the Internet The new age of technology was born late last century in the form of the silicone chip. Since this early invention computers have progressed in leaps and bounds from the very basic early models to the now very complicated and very powerful computers of today. 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We shall discuss deeper into theseRead MoreThe Pros And Cons Of Internet Censorship1042 Words   |  5 Pagescomes in many forms and for a lot of different reasons but when it comes to the internet, for the most part it is beneficial. It can provide security for sensitive material. The things that minors are exposed to can be limited. Also you can make sure that it is not used to cause chaos. Furthermore it would seem to be a beneficial part of online life. It can provide security for important documents and conversations. Internet censorship can help with cyber security when important information or secretsRead MorePros and Cons of the Internet Essay1138 Words   |  5 PagesThe Internet is more popular today than it was years ago. As technology advances, the use of the Internet grows yonder and is an amazing addition in our lives. The Internet has been perhaps the most outstanding innovation in the field of communication in the history of humanity. 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