Accounting Information System for Harmonization, Term Paper

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This model could then be customized for the needs of the different companies.

Sankaran and AlHashim (2006) make a compelling case regarding the need for harmonized accounting standards and practices. In addition to the globalized economy, they also rightly point to the benefits of such harmonization for corporations - including a greater ability to keep track of expenses and a better way of reconciling different accounting practices in its branches worldwide. Furthermore, Sankaran and AlHashim (2006) also allay fears that harmonization is equivalent to imposing only one accounting system around the world. Instead, they highlight the need for commonality, for a web-based accounting system that lends itself to different accounting practices.

The paper makes a strong argument, and the data regarding the need for a harmonized accounting system is compelling.

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While this article may present a challenge for readers unfamiliar with basic programming language, the inclusion of a generic algorithm for its proposed computer assisted program adds to the authors' argument that such a database is possible in the first place and adds to the strengths of this paper's methodology. This research is also in its early stages, so the authors are also careful to suggest that further tests could be done, especially regarding the expandability and network connectivity of the proposed model.

In conclusion, Sankaran and AlHashim (2006) have made an important contribution to the advancement of the accounting field in the age of globalization. The concept of harmonization in accounting stands to benefit not only accountants, but also multinational enterprises, financial analysts, and investors the world over......

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