Accounting Education in a Global Environment
There has been much discussion in the last few years both in professional and academic circles about the convergence of FASB’s U.S. GAAP and the IASB’s IFRS. There are many advantages to this convergence, it would allow for an overarching international accounting standard allowing for much simpler comparison of foreign companies versus U.S. based companies financials. It would also make it much simpler for a U.S. based company with subsidiaries and affiliates around the world to publish financial statements if all the financial statements were accounted for under a universal system. Another great advantage is the ability to universalize education requirements. If the world is conducting business based off of IFRS then a student from India is being taught the same system as a student in the U.S. This can be very advantageous to a corporation; it provides much more flexibility in the placement of the people that they hire. This great possibility opens up some very large questions. Are the students being taught the same courses from one country to the next? Are schools producing equal quality students? Are schools giving students a quality experience in and ability to interact with people from cultures other than their own? There needs to be a standard for international education, and an awareness of the need for growth in international relations and a growth in the desire of students to pursue and understand these relations.
The International Accounting Education Standards Board (IAESB), which is a branch of the International Federation of Accountants (IFAC), this organization was formed in 1977 with the purpose “to strengthen worldwide accountancy profession in the public interest by:
Tags: academic circles, accountancy profession, accounting education, international accounting standard, international federation of accountantsUnderstanding International Schooling
This is mainly because the standard of education in these schools meets the global standards of world wide consistent education and places the children in the elite lane of academics, career and opportunities.
International schooling can be privately or publicly run. The staff working in international schools is usually chosen from job fairs from whom a fair deal of commitment, dedication and expertise in their subjects is demanded. They need to be specially trained for an international syllabus which is slightly different from ordinary schools. The curriculum is usually based on the country of the school’s origin but keeping in mind international standards other global standards of education are followed like the International Cambridge Certification (IGCSE), the CBSE (Senior Secondary), the All India Secondary School Examinations (AISSCE) or AICE (Advanced International Certificate Of Education). The PYP (Primary Years Program) till Grade 6 and the MYP (Middle Years Program) for Grades 6 to 10 offered by the IB (International Baccalaureate) coach a balanced curriculum in the international schools based on the development of concepts, skills, knowledge, self-enquiry and initiative.
Tags: aissce, cambridge certification, international baccalaureate, myp middle years, self enquiry