Accounting profession in the Dragon Land is readying itself for global needs
What can be more fearsome than the accounting link to Genghis Khan? Wonder if the latest gene-connection would put more fear in the minds of everybody when they deal with their accountants. But what can be more fearsome are the strides that China is taking in its accounting profession. For instance, about 13 lakh Chinese people appeared for a two-day national accounting qualification examination last week, as per a Xinhua report dated May 21.More
It is the duty of the period!
Pulling the trigger to infuse reporting habit in accountants 'The reporting framework' being proposed addresses two types of obligations. One, 'basic information once a year about the firm and the firm's issuer-related practice over the most recent 12-month period'; and two, report within 14 days if specified events occurred. More
A task that's to cost $12 billion!
A quarter billion records in a mammoth accounting reconciliation"Among other things, Interior has been ordered by the district court in Cobell vs Norton to document every dollar it has received and disbursed on behalf of individual Indians since 1887 — a task that encompasses billions of dollars, hundreds of thousands of accounts, and tens of millions of account transactions." More...
A sort of Gresham's law in reverse would be set in operation...
Are you financially literate?
