The world is constantly moving and updating information, habits, cultures and ideas every day; this process is globalization and is increasingly popular in the business world, and soon, if not, it becomes a social norm. The world is getting smaller, technology is improving and the market is growing more and more in this fast-growing global economy. Students are also part of this change in the field of re-evaluating and otherwise teaching college students in the accounting field to better assist them with international awareness and habits to ensure future success in this area.
Accounting is so-called "business life", it is imperative that globalized companies understand and coordinate each other to ensure common understanding in order to understand the accounting process throughout the business community (Paul, 2007). "Although changes in the business environment affect accounting and accounting, they have recently called for research in accounting education to respond to the challenges of the environment" (Albrecht and Sack, 2000; Albu, 2012). Therefore, accountancy accounting for today's students includes a longer and more diverse structure for accommodating emerging economies and keeping pace (Albu, 2012). The concept of globalization of accountants should be understood by two key concepts; the General Accounting Principles (GAAP) and the International Accounting Principles, International Financial Reporting Standards (IFRS) (De Gottal, 2014). If students focus on GAAP only, they may hinder their work opportunities in their future relationship with international financial corporations. GAAP, which is primarily taught to American colleges worldwide. It would be necessary for students to understand both concepts to help them acquire basic understanding, enabling them to move on without the knowledge.
If not yet, they will soon make accounting chapters for more internationals to fully understand and recognize the different political, economic and market systems in each country. Understanding these principles can only help students when they are conducting accounting studies when they eventually apply for this competitive market. It would not be surprising that, in the future, countries eventually meet each other with accounting standards and laws. Beside intensive classes, it is likely to add to the already 150 credits, five years before the program students are also sitting on the CPA Exam; students will never stop learning after graduation. Auditors need to keep up-to-date on changing such globalized markets and principles since both GAAP and IFRSs are updated so often
Today, accounting firms are looking for a variety of diversity when recruiting a potential employee. For example, many students are involved in accounting and minors of finance. Today's companies are looking for a greater variety than potential candidates. Minors or even double degrees in the international business world show companies the diversity and creativity when applying for jobs in this area. It's possible to take a second language while your 150 credit is heading toward your goal, only to help your students. This shows that companies are moving towards a more globalized market and performing. This change also provides opportunities for international and American-born students. American students seeking employment will be able to travel overseas to develop business, such as Asia or Europe (Nolan, 2010), and vice versa for international students working here in the United States. Among international students, the question of not having to go to the same school as American students can create a gap in education but, according to a positive note, "every accountant will be able to do something else to the table and accounting professionals will be able to learn from each other" (Saitto, 2013)
These are the inevitable changes in accounting for positive and negative future accountants. It is important for students to understand these changes and to work with them to achieve positive results when they are looking for workplaces. The education system becomes increasingly global in the sense that students have the opportunity to better understand globalization in accounting. Students now have the opportunity to study abroad to learn more about IFRS than an American college offers. This can be a big plus for those looking for work in the future. Mastering the experience and knowledge of globalization in economics and society is a great way to start your career as a successful accountant.
Albu, Nadia, Catalin Nicolae Albu and Maria Madalina Girbina. "Educating Accountants in an Emerging Economy – An Analysis of the Importance of Stereotypes in the Teaching of Ifrs". International Journal of Academic Research 4,3 (2012): 51-57. Academic Search Full . Web.
Diaconu, Paul. "The impact of globalization on international accounting harmonization". SSRN Electronic Journal SSRN Journal (d.d.):.
Nolan, Jessica, "Effects of Globalization on Accounting Education". November 18, 2010 EzineArticles.com. Web.
Saitto, Gabrielle. "The impact of globalization on accounting education among college students". Colonel Articles No., 13 November 2013 Web.
De Gottal, Emma Frances. "The impact of globalization on accounting education". EzineArticles.com . No., November 18, 2014 Web.
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