EMERGING ISSUES IN ACCOUNTING

Ashok Kumar Gupta

Abstract


Various Scandals in the last decade  all over the world like Enron Scandal (2001), WorldCom Scandal(2002),Tyco Scandal (2002),Health South Scandal(2003),Freddie Mac Scandal(2003), American Insurance Group Scandal(2005),Lehman Brothers Scandal(2008), Bernic  Madoff Scandal(2008),Satyam Scandal(2009) had focused on the emergent need for the substantial improvements in the accounting and auditing Practices all over the world. To enhance the efficiency of the Capital Markets around the world, there is need for the firms to provide accurate, reliable and timely information to the market players i.e. investors, financial institutions, creditors. There are number of Emerging accounting issues to be considered in the recent years but in the current study we have pointed out some of the very main issues i.e. IFRS & Globalization, Sustainability Reporting, Reverse Mortgage, Global Code of Conduct & Environmental Accounting.


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References


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