Challenges and Solutions in Financial Accounting Management: A Case Study of BDO Global

WEEK 6

Introduction
The report majorly discusses the problems associated with the management of financial
accounting. To ascertain a specific model of the problems and the ways by which the
shortcomings have been met through BDO Global. The adoption of plans that have been adopted
to meet the shortcomings of the project has also been discussed.
Problem statements
The major problem that has been faced by the financial accounting systems is the notion
accordance of proper standards of accounting. Thus, there is a lack of trained accountants in the
world accounting systems to conduct proper justice to the systems.
Project objectives
The major objectives that were formulated for the projects were as follows:
 Ascertaining the challenges faced for implementing the accounting standards in the
global accounting world
 Methods that were adopted for the adopted for the efficient implementation of the project
 The solutions that were procured for meeting the challenges of the Capstone project.
Capstone Project- first report
Advanced level research
While conducting the research works for the Capstone project, many accounting companies have
been considered to analyze the research issues. There is certain contemporary relating to the
issues of the problems of the financial accounting. After analyzing the AICPA website, there is
various information that can be inferred about the structure of the accounting systems in
Australia1. Therefore, it is imperative for the organization of the management companies to work
on the internal structure of the companies to progress. Considering, one of the Australians top
1 Craig Deegan and Michaela Rankin, "THE ENVIRONMENTAL REPORTING EXPECTATIONS GAP: AUSTRALIAN
EVIDENCE" (1999) 31(3) The British Accounting Review.

financial company BDO Global there were certain problems that were identified during the
conducting of a project. For the problem of the troubleshooting of the structures in the
organization, there are GAAP conversations were conducted for the procurement of the fault
lines. The major drawback is the lack of information about the complex technical accounting
procedures. Therefore, adoption of the new accounting formulations should be availed to the
organization.
The major problem is faced that the financial companies don't make their reports according to the
notions of the IASB. Therefore, there are various problems which are faced due to ascertaining
the taxations and the accounting procedures of the companies. However, for the intention of
acquiring a certain level of strict managerial organization in every accounting organization, there
are certain procedures that seem to be adopted. Therefore, accounting organizations majorly fail
to meet the parameters of the international standards of accounting. Improper maintenance of the
standards may lead to the mismanagement of the accounting firms.
Planning of the project of BDO Global
Thus, to meet these shortcomings, various methods can be adapted to meet the desired outcomes
of the project. Thus, the major intention of the project is to meet the requirements of the
accounting standards so that it can accord to the principles of accounting measures. Thus,
managerial problems can be solved by taking into concern the major parameters affecting the
problems of the adoption. Training sessions should be conducted by the authorities of the
accounting standards to adopt the various companies with the notions of the AASB accounting
standards. Considering the reports of the gargantuan Australian accounting company BDO
global, there has been the major implication of the project2. Although the network weirdly
covers great procurement of the services around the world, it should also take into concern about
the methodologies that are being adopted for the procurement of the information. In such a big
set of the business, there are also other major concerns that have been taken into concern like the
integration of internet accounting stands through the framework of AASB. Thus, it saves both
2 C.W. Nobes, "A JUDGEMENTAL INTERNATIONAL CLASSIFICATION OF FINANCIAL REPORTING PRACTICES"
(1983) 10(1) Journal of Business Finance & Accounting.