Legal systems of the world

accountants should be aware of the prejudices of other countries culture and differences in accounting. How do these differences lead to differences in interpreting standards and reporting financial information and why? These non-accounting factors also include differences in laws, politics, accounting education and the attitude toward the profession. There are two accounting models where you can see the initial differences between accounting standards. One model is the Anglo-American model and the second is the Continental European model. There is vast information on the subject of culture and accounting and it is a different area to research, because culture and beliefs impact are personal lives but how does it impact the business world. The research done will give me some insight into this subject. Hofstede classified nations based on his four aspects Power Distance Index which based on how power is distributed the members of society, showing the inequality among those within the society. In a society where power is unequal there is a large power distance. Cover ups and scandals are likely to happen in high power distant societies (Young, 2013). An example of a stong power distance society would be upper management using accounting to give the company a positive image, requiring subordinates in accounting to not follow accounting rules and standards because they are in power. Disclosures in a large power distance will be more limited as they will not want to share…

Prisoner’s dilemma demonstrates a sequence of play that is unknown and the players move simultaneously. When applied to the integration of Sharia law in Britain, if both sides cooperate then there would be a seamless integration of Sharia councils into the secular framework, which would most likely result in a system reflecting Tanzania. If Sharia cooperates, but Britain defects from any agreement then the Sharia courts remain subservient to the secular, national framework, as is the current…

In Ronald Dworkin’s Law’s Empire, the myth of the grand judge Hercules is ‘encapsulated by the metaphor of an ideal judge, Hercules is immensely wise and with full knowledge of legal sources. Acting on the premise that the law is a seamless web, Hercules is required to construct the theory that best fits and justifies the law as a whole in order to decide any particular case. Hercules, Dworkin argues, would always come to the one right answer.’(Dworkin) In contrary to the Greek demigod, the…

The criminal justice community is always evolving, there are changes in technology that have caused shockwaves through the system that reach an international level. In the review of the current system, the impact of globalization on the United States criminal justice system will be assessed, as well as comparing and contrasting the international criminal justice systems. Which include Civil Law, Common Law, Islamic Law, and Socialist Law traditions. Additionally, the impact that cybercrime and…

At Carleton, I am currently studying a combined honours in Law and Human Rights. It was by my 3rd year that I began to realize I was only really applying the social justice aspect of human rights to my life, not the legal aspect I was learning in my law classes. I started to realize that my drive for social change, especially in Canada, could be best achieved through studying law. As previously stated, coming from an immigrant and middle-eastern background I have firsthand experience in…

In this decided case the court give awards for exemplary damages, this case is about breach of fiduciary duty, Sir Robin Cook stated that the common law and equity is mixed and merged, he also believe that whatever the circumstances the remedies should be available whether it is provided by equity, common law or statute. The case mark a positive development for the growth of equity and common law to be more fair and efficient. The case clearly send a signal to common law world that it is…

TREAT UNITED STATES In United States the invitation to treat is known as invitation to bargain. Invitation to bargain in the US also same as invitation to treat in UK, because the primary sources of the US law is from English common law, case law, statutes and the constitution. Therefore, the English common law was used as foundation of the US law. The UK and US lawyers break down the procedure of contract information into three steps, which are invitation to treat (invitation to bargain in US),…

Common law it represents the whole of the United Kingdoms legal systems , which is made by judicial decisions in court, English law is based on common law,for instance common law was initially developed from case law based systems Common law is legal precedent that is made by judges sitting in court. Unlike statutory provisions, which are laws that are Acts of Parliament, the common law system is ever changing. Trial by jury would be a characteristic of common law, for example, the judicial…

Cultural, legal and political environments can be as diverse as the country one is discussing. Many countries follow the European Civil Law system, whereas the United States follows the English Common Law system. American lawyers are as diverse from one state to another and usually do not practice across state lines, because laws vary. For foreign countries there is not one uniform legal entity that all foreign and domestic countries could follow, the laws are too vast, different and complex.…

an allegedly a drug addict can just be put on probation because they 're famous. But ordinary citizen are convicted and not given probation till after their sentence. As you can see there are issue with our legal system. But the only way to fix this issue is to solve our…