PP AVCN : What benefits can a trong accounting profession bring to developing countries?

1. 1
WHAT BENEFITS CAN A
STRONG ACCOUNTING
PROFESSION BRING TO
DEVELOPING COUNTRIES?

2. WHAT IS A STRONG ACCOUTING PROFESSION?
1.1 Definition of a strong accouting profession.
A strong accouting profession can be understood to be
a field of accounting, specified by a statutory professional body
of accountants, which is managed by the accounting
professionals of that field.
One of the main objectives of the professional body, is
to conduct courses and periodical examinations. The structure
of the course, the frequency of examinations, qualification
norms etc., are decided by the body itself.
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3. WHAT IS A STRONG ACCOUTING PROFESSION?
1.1 Definition of a strong accouting profession.
They may also conduct more than one course,
each of which represents a different level of proficiency
in that field. They may also conduct various courses
representing proficiency in different branches of the
same field.
The professional bodies have many other functions and
objectives all of which are directed towards enhancing
the interests of the profession, professionals and the
professional body.
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4. WHAT IS A STRONG ACCOUTING PROFESSION?
1.2. Some examples about strong accouting professions:
Cost
Accounting
Management
Accounting
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5. WHAT IS A STRONG ACCOUTING PROFESSION?
1.2. Some examples about strong accouting professions:
The Association of Chartered Certified Accountants- ACCA: The ACCA
qualification is recognised and is treated in other countries as being equivalent to
their local qualification.
The ACCA qualification proves to employers that you have ability in all
aspects of business It is the largest and fastest growing qualification in the world,
with over 500,000 members and students in 170 countries.
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6. WHAT IS A STRONG ACCOUTING PROFESSION?
1.2. Some examples about strong accouting professions:
IFAC contributes to high- quality international standards and guidance, helps
build strong professional accountancy organizations and accounting firms, and
supports high- quality practices by professional accountants- all neccessary
infrastracture for the effective functioning of the world’s capital market.
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7. WHAT IS A STRONG ACCOUTING PROFESSION?
1.2. Some examples about strong accouting professions:
Determining the costs
of products, processes,
projects, etc…in order
to report the correct
amounts on the
finiancial statements
Assisting management
in making decisions
and in the planning and
control of an
organization
Cost Accounting: involves the techniques for:
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8. 8

9. WHAT IS A STRONG ACCOUTING PROFESSION?
1.2. Some examples about strong accouting professions:
The process of preparing management reports and accounts that provide
accurate and timely financial and statistical information required by manager to
make day-to-day and short-term decisions.
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10. WHAT BENEFITS CAN A STRONG PROFESSION
BRING TO A DEVELOPING COUNTRIES?
To global market
To developing
countries:
To stock market
To the company and
the human resources
of that one.
To individual
members
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11. WHAT BENEFITS CAN A STRONG PROFESSION
BRING TO A DEVELOPING COUNTRIES?
To global market.
Internationalisation has been
an important consideration
for business practise for some
time.Accounting has
attempted to facilitate the
creation of an international
regulatory framework.There
are several dimensions to
globalisation but all too often
the discussion centers around
“ the emerging global
economic system its history,
structure, and supposed
benefits and failings”
The International Accounting
Standards Board( IASB) is
committed to developing, in the
public interest, a single set of high
quality, understandable and
enforceable global accounting
standards that require transparent
and comparable information in
general purpose financial
statements.
The major stated reason for these
international accounting standards
has been the need for the free
movement of funds to accompany
the globalisation of capital
markets. 11

12. WHAT BENEFITS CAN A STRONG PROFESSION
BRING TO A DEVELOPING COUNTRIES?
Accounting for stock
transactions
This session
demonstrates how to
account for stock
transactions.
Stock issued for cash
Corporations may issue
stock for cash
Accouting reflects the operations of the company through the finacial
statements, based on them can be said to be able to pay the debt, profit
last year, this year, dividends….In addition, if the company signs a loss, the
stock price will fall and vice versa.
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13. WHAT BENEFITS CAN A STRONG PROFESSION
BRING TO A DEVELOPING COUNTRIES?
To
developing
countries
It manages outsourced activities tend to increase
Role of professional associations connected accounting and
auditing in Vietnam with unions around the world to
compete with countries
Bring efficiency in the management of general financial and
budget accounting in particular
Integration with professional organizations of accounting
and auditing in the region and the world.
Avoid any major financial crisis for economic harm
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14. WHAT BENEFITS CAN A STRONG PROFESSION
BRING TO A DEVELOPING COUNTRIES?
To the company and the
human resources of that
one.
To the company
Finanial Statement
Reviews
Develop Budgets
Track Cash Management.
To the human resources
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15. WHAT BENEFITS CAN A STRONG PROFESSION
BRING TO A DEVELOPING COUNTRIES?
Finanial Statement Reviews
Financial accounts allow companies to develop financial statements.
financial statements allow companies to conduct a top-down review of financial
information.Financial account analysis with computerized accounting systems can
increase the financial statement analysis of individual accounts. Computerized
statenment analysis often allows companies to “ drill down” into individual accounts
and review specific financilal transactions.
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16. WHAT BENEFITS CAN A STRONG PROFESSION
BRING TO A DEVELOPING COUNTRIES?
Develop Budgets
Many companies develop operating budget for their operations. These budgets
contain historical information based on a company ‘s financial accounts.
Companies may also compare the current financial account information to historical
information for developing a trend.
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17. WHAT BENEFITS CAN A STRONG PROFESSION
BRING TO A DEVELOPING COUNTRIES?
Track Cash Management.
Financial accounts allow companies to
purchase economic resources, goods or
services on account from other businesses.
Managing trade credits is an important cash
management process. Companies use financial
accounts to determine how much money
currently resides in their bank account, how
much money they must pay vendors or
suppliers and how much money they need to
collect from consumers.
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18. WHAT BENEFITS CAN A STRONG PROFESSION
BRING TO A DEVELOPING COUNTRIES?
to furnish cost value information for making proper and effective managemet
decisions about acquiring, allocating, developing and maintaining human
resources in oder to achieve cost effective organisational objectives.
to monitor effectively the use of human resources by the management.
to have an analysis of human assest, whether such assests are
conserved, depleted or appreciated.
to aid in the development of managemetn principles and proper decision
making for the future by classifying financial consequences of various
practices.
To the human resource
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19. WHAT BENEFITS CAN A STRONG PROFESSION
BRING TO A DEVELOPING COUNTRIES?
Toindividualmembers
The choice among employers:
The chance to be a global influencer and
build memberships's professional
network:
Supporting memberships in their continual
professional development:
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20. WHAT BENEFITS CAN A STRONG PROFESSION
BRING TO A DEVELOPING COUNTRIES?
The choice
among
employers:
Increase
earning
potential.
Improve career
progression opportunities
of individual.
Provide international
mobility to career.
World-class global of the accounting organizations
reputation helps their membership
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21. WHAT BENEFITS CAN A STRONG PROFESSION
BRING TO A DEVELOPING COUNTRIES?
The chance to be a global influencer and build memberships's professional
network:
• create or influence policies that impact on individuals,
businesses and communities alike.
• All members have the opportunity to stand for Council, the
body which governs professional accounting organizations
activities.
• professional accounting memberships can raise individual
profile, broaden individual professional networks and learn
new skills.
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22. WHAT BENEFITS CAN A STRONG PROFESSION
BRING TO A DEVELOPING COUNTRIES?
Supporting memberships in their continual
professional development:
Provides member with a wealth of
opportunities to assist in career and to support
continual professional development.
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23. REALITY OF A STRONG ACCOUNTING
PROFESSION AT DEVELOPING COUNTRIES.
• Accouting standards in developing countries are not updated and not completed.
Economy continues operating ans has many transactions that standards have not
kept pace.
• System of accounting standards, auditing are still not completed, lack of necessary
legal provisions to control the quality accounting, accouting services and to pratice
accouting.
• Competitive power of the majority of the accounting firm is weak both
qualifications and quality of service.
• Accounting services do not spread widely, in the types of services publish by audit
firms and financial accouting advisory, accounting services accounting have very low
rate.
• Reality of one accountant can double up as many possitions in a corporation,
therefor, the profession is still not deep.
• In addition to performing the function of an accountant, the majority of firms in
these countries is to hire accouting for tax evasion.
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