International Corporate Reporting Issues Essay Example | Topics and Well Written Essays - 3000 words - 1

International Corporate Reporting Issues - Essay Example As the financial statements contain information about different aspects of the business that include revenue, assets, liabilities, equity, expenses, along with details and in a complete standardize format, further these statements are also audited which further add reliability to these financial statements, but the basis upon which these financial statement s are prepared involve some factors that may hinder the effective decision making process these factors include, Accounting estimates that are uses by preparers of financial statements while preparing these financial statements are subjective decisions, which is one of the big limitation of the financial statement as due to this factor the users of financial statements may be misled. Professional judgment uses by preparer of financial statement is also one of the reason which undermine theuses of financial statements, as it involve judgment in preparation of financial statements that may be wrong and can ultimately hit financial decision taken by users of financial statements on the basis of these financial statements. Verifiability of these financial statements through audit is not an absolute verifiable factor so one cannot take decisions like take over just on the basis of these financial statements while assuming that these are audited accounts, Historical costing is also one of the reason that may cause users of financial statements to be misled as in historical costing asset are carried in the books as cost of asset less accumulated depreciation that may not be the market value hence it may miss lead the users. Measurability is also one of the reason that undermine the uses of financial statements because it involve only those areas that can financially be measured and areas that cannot be valued or out of financial statements hence like good will and employees performance cannot be seen while reviewing financial

Impact of HR outsourcing and offshoring on attitudes and behaviour of Essay

Impact of HR outsourcing and offshoring on attitudes and behaviour of remaining employees - Essay Example he evidence from the present study on two groups of HR employees and on HR managers, it was clear that adverse impacts were caused by outsourcing, on employees’ emotions, job roles and the psychological contract. Further, there were detrimental outcomes in employees’ job satisfaction, motivation, and related factors. These adverse impacts were higher among the payroll employees, as compared to the project group employees who were generally confident of their present and future work roles in the company. This study is based on the theory of violation of psychological contract, and its link with the negative outcomes of outsourcing on HR in-house employees. Significantly, the HR managers expressed satisfaction in their transition to outsourcing, and believed that their employees also had a positive approach to the change. The significance of change management is recognized. Optimization of the change management process in INT Corporation using the ten principles of Corbett (2004), would facilitate a smooth transition to outsourcing, and positive impacts on in-house HR employees. Human Resource (HR) departments of companies expect to continue implementing their current strategies of outsourcing HR services. One of the main reasons is to reduce costs due to the weakened economy. Moreover, outsourcing helps to solve a number of operational problems and improves the efficiency of HR functions in an organization. By gaining access to outside expertise, service quality is improved greatly. Thus, â€Å"with the need to reduce costs, improve efficiency and maintain high levels of employee service† (Hewitt Associates 2009: 3), it is becoming increasingly important for HR to outsource some of their functions in order to deliver higher value to the business. Due to the significant benefits in HR outsourcing, it is vital to ensure that the transition to outsourcing is carried out in the best possible manner. â€Å"The foundation for a successful launch is built in throughout