The internet provides us with unlimited options, and you have the potential to earn high amounts of money. A home based business is far less risky than that of an actual bricks and mortar business. You do not need a large sum of capital in order to start one, plus if it all goes pear shape then you do not lose large amounts of money.Through the use of the internet you will be able to quickly learn how to succeed in your home based business. There are millions of people online who are making a successful living from the internet and are willing to share their internet money making tips with you.Something that a lot of people appreciate about their home based business is that it enables them to spend more time at home with their family. They are no longer spending hours travelling to work or working overtime. Therefore they don’t have to miss out on special family occasions.The internet goes into the homes and workplaces of millions of people therefore a home based business presents you with a huge potential, you just have to reach those people and make them aware of your products and services.The main advantages of a home based business can be summarised as:• Anyone can do it, including any age or sex. You could be completely new to the internet or even a budding entrepreneur.• There is very little risk associated with this type of business. If you do not succeed in one aspect of internet marketing then you could try a new angle and you won’t have lost large amounts of money.• You won’t need a huge sum of money to start your home based business. There are no hidden fees. You don’t have to spend high amounts of money on rent, electric or various other bills as you would with a regular business.• You learn while you earn. In internet marketing and home based businesses you are continually learning. The more you learn the more likely you are to apply this knowledge to you business and earn a higher amount of income.• Working from home enables you to be far more flexible with your time, particularly since you can work any hour of the day.These are just a few advantages, there are in fact thousands of reasons why you should develop your own home based business. You have the potential to earn a lucrative income through your own determination to succeed.
Globalization and Its Impact on Accounting Education
Globalization, defined by dictionary.com as ‘worldwide integration and development,’ is a movement that has affected many industries worldwide. One of the main industries affected by globalization is the accounting industry, including college accounting education. College accounting education has been affected by the 150 credit hour requirement to sit for the CPA, and the issue of Generally Accepted Accounting Principles (GAAP) vs. International Financial Reporting Standards (IFRS). The accounting industry has been affected by the changes in accounting education and the consequent learning gaps between students from different countries.
The United States has recently implemented a 150 credit hour requirement in order for students to be able to sit for the CPA exam. This requirement was put in place to improve the preparation of students for the profession and increase their chances of success on the CPA exam. Before this rule, students were only required to have 120 credits before they could take the exam. The additional 30 credits is beneficial to students because it allows them to become more well-rounded students by taking more accounting courses, learning more about the accounting profession, and pursuing an MBA.
While the 150 credit hour rule is beneficial to the students that it applies to, the rule does not apply to all accounting students worldwide, therefore creating a learning gap in accounting education. In some countries outside of the United States, an accounting degree is the only prerequisite required to sit for the CPA exam. This learning gap is magnified as a result of accounting firms following the trend of globalization and expanding their practice into multiple countries. The result will be accounting students from different countries having the same qualifications, but varying technical skills and knowledge.
Another way that accounting education has been affected by globalization is the conflict between GAAP and IFRS. GAAP is the set of accounting principles used in United States, and American companies are required to follow GAAP standards when reporting and analyzing financial information. Students in the United States will have to learn the GAAP principles, but these principles will not be enforced internationally.
The result of this would be American students learning two sets of accounting principles: GAAP and IFRS. IFRS is used internationally by over one hundred countries to report their financial statements. The use of IFRS is supported by the International Accounting Education Standards Board, which was established to “serve the public interest by the world-wide advancement of education and development for professional accountants leading to harmonized standards (Needles, S70).”
The goal of IFRS is to create a uniform set of standards for all countries so they can compare financial statements internationally. The immediate way to make this happen would be to withdrawal GAAP from use in the United States and switch to IFRS. Though this method would solve the issue of the conflicting sets of standards, it would cause a multitude of other problems within college accounting education. Professors would need to learn the new IFRS rules, and then re-work their class structures and learning objectives accordingly. Also, new textbooks would have to be produced with information on the updated IFRS rules, and less emphasis on the GAAP principles. While an immediate change to IFRS from GAAP in the United States would be problematic, a change over time is the goal that should be pursued. “The Securities Exchange Commission has announced that it will attempt to abandon the use of GAAP and move towards IFRS (Scanlan).” The production of new textbooks would have to begin almost immediately so the textbooks could be circulated to schools around the United States within the next few years. New courses addressing the change from the use of GAAP to the use of IFRS would then have to be implemented into school curriculums within the same time period of the textbooks being circulated.
The switch from the use of GAAP to IFRS should also be a goal that is being worked towards in the professional accounting industry. Several benefits would come from achieving this goal, such as providing a common framework that supports the globalization of capital markets, allowing financial performance to be better understood globally, and strengthening accounting practice internationally. “It is encouraging that the majority of the Fortune Global 500 companies are likely to use IFRS (or word-for-word IFRS equivalents) by 2015 (Needles 603).”
Overall, globalization’s impact on accounting education and the accounting industry has been substantial, and cannot be ignored. The 150 credit hour rule, which is not currently enforced in all countries, has created a knowledge gap between professionals who have been educated in different countries. The trend of accounting firms expanding their business internationally has forced the United States to acknowledge the idea of adopting a set of accounting principles that is recognized internationally. As a result, the accounting education practice in the United States will have to adjust to match the trends of the accounting industry. In the end, the changes caused by globalization will help the accounting industry in the United States become more internationally friendly, as well as help accounting students become more prepared to take on the challenges they will face when they get into the industry.
Works Cited
Needles, Belverd E. “Accounting Education: The Impact of Globalization.”Accounting Education 19.6 (2010): 601-05. Business Source Complete [EBSCO]. Web. 12 Oct. 2015.
Needles, Belverd E. “International Education Standards (IES): Issues of Implementation A Report on the Third IAAER Globalization Roundtable.” Accounting Education 17.(2008):69-79. Business Source Premier. Web. 12 Oct. 2015.
Scanlan, Bill. “Globalization’s Impact on Accounting Education.”Articlesbase. Articlesbase Ltd., 09 Nov. 2011. Web. 08 Nov. 2015.
Best Home Based Business for Cooks
You don’t need to be a chef to find a career in cooking. A best home based business for cooks is a personal chef business. If you want to cook on a larger scale, another best home based business for cooks is catering. Using your love of cooking and a little creativity can help you develop a best home based business doing what you love.Think about it. One of the reasons why catering is considered a best home based business is that it is a $5 billion dollar a year industry and continues to have an annual growth rate of 5 percent. People are always having parties and events that need catering, and if you learn some basic business principles, you can run the best home based business while making great food and putting smiles on faces.Still, not everyone likes to cook for big groups. If your idea of the best home based business is to cook small meals for just a couple of people, you may want to consider becoming a personal chef. You do not need to be an actual chef to run this type of business. What makes this a best home based business is that it is one of the fastest-growing industries in the U.S.Whether you choose for your best home based business to be in catering or in being a personal chef, you still need to do some preparation. You will want to develop your food preparation skills so that you are showing people you have a best home based business. You can gain experience in the food industry through stints in restaurants, clubs, caterers, or even volunteer work. You do not need to have years of experience to run a best home based business in cooking, but you can gain some valuable advice.You will also need to determine what type of services you want to offer when designing your best home based business. Know what type of cooking you want to do and if you want to be a personal chef on a regularly scheduled basis. You will also need to determine a name and gain some financing for your best home based business. Also, don’t forget important items like insurance and kitchen equipment, and making sure you are in compliance with municipal standards. In order to have the best home based business for cooking, you will also need to make sure you are within the law