Effects of Immigration under Trump Administration - Free Essay Example

Sample details Pages: 3 Words: 868 Downloads: 1 Date added: 2019/04/05 Category Politics Essay Level High school Tags: Donald Trump Essay Did you like this example? One of Trumps central campaign promises was to reduce the rate of immigration as his way of promoting Americas security and secure jobs for its citizen. True to his pledge, Trump administration has made a significant effort both through executive orders and rhetoric to cut down on the number of immigrants entering America. Trump war on immigration has elicited a heated debate both in and out of America as the president has faced a lot of criticism for his hard stance against immigration while others have supported the president. Don’t waste time! Our writers will create an original "Effects of Immigration under Trump Administration" essay for you Create order However, despite the fierce debate among the two antagonizing sides, almost everyone concurs that Trump policies have a significant effect on immigration. One significant challenge that this Trump administration could end up creating is the reduction in the labor force as people who could prove resourceful in the U.S and would seek legal ways of entering the U.S are affected because of Trump policies (Hauslohner and Ba Tran). There is a possibility that some multinationals that depend on skill-labor provided by immigrant might end up setting offices in countries that have lenient immigration policies. Some of the countries that are worst hit by the ban include Somali, Libya, Syrian, and Iran as Trump cites security reasons for restricting individuals from such countries. However, the ban seems to be affecting countries that are considered friendly to America. According to Hauslohnera and Ba Tran countries such as India, the Philippines, Vietnam, and Mexico whose immigrant play a crucial role in Americas economy by providing both skilled and unskilled labor have seen a drop in the visa application. Even though there is a small positive impact of Trump policies in reducing the rate of unemployment I am skeptical about the effects of war on immigration in the long run. The biggest question that lingers in most Americans mind is the contribution of Trump policies to Americas economy as there is a possibility that restriction on immigration will result in a shortage of workers. Another concern with Trump immigration policy is his use of executive orders to circumvent the resections placed on him by courts. Mayda and Peri criticize Trump Executive Orders (EO) such as the EO 13768 to accelerate deportation of aliens, EO 13767 that aims to build a wall at the U.S southern border with Mexico and EO 13789 that seeks to tighten the application process for Visa. Most of the restrictions proposed by Trump will significantly reduce the number of immigrants entering America. For instance, Hauslohner and Ba Tran note that Amendments to the State Departments Foreign Affairs Manual to place the burden of proof that they will not be a burden to the government is meant to deny visa applicant chances to enter the U.S. The perceived impact of Trump policies are adequately summarized and better explained in Pierce, Bolter, and Selee in a Migration Policy Institute project titled US Immigration Policy under Trump: Deep Changes and Lasting Impacts. The authors attribute the reduction of the number of visas to Trump stringent policies and his harsh rhetoric. Trump administration has reduced the number of immigrants by limiting on humanitarian programs, ending previous administrations protective measures and improving on immigration enforcement. Pierce and her colleagues provide a detailed explanation supported by data and facts cited from various sources on how the Trump administration is tackling the immigration menace. Some of the issues that point towards Trump policies resulting in the reduction in immigration are the reduced number of visa applicants, increased number of deportation and an increase in the number of people arrested seeking asylum in Canada (Pierce et al.) Trump is facing a lot of r esistance and lack of support from the Congress, Courts and local government but he has skillfully used administrative measures to push his vision through. Trump immigration policies have faced criticism for being cruel especially when it comes to families and children. Some of the reasons that the courts have found Trump policies cruel include violation of human rights such as separation of families, detention of asylum seekers and of children as a deterrent to people who would wish to be immigrant in America (Mayda and Peri). The issue of separation children from their parents has raised a lot of outcries as children are subject to mental harm and their health and educational needs are threatened (Nicholson). Any parents who have children and wishes to immigrate to America may not fancy seeing their kids undergoing such a situation. Therefore, those inhuman practices condoned in the Trump administration might deter people from immigrating to America. Given all the negatives associated with Trump immigration policies there is a need for its reversal as it betrays American values and against the U.S constitution in protecting individual rights either illegal or legal migrants. In conclusion, different people have various opinions on the impact of Trump immigration policies on immigrants. Trump administration fight on immigration has discouraged people from migrating to America as other face deportation at an alarming rate. If the same trend continues, Trump risks affecting Americas economy and workforce. Other concerns regarding Trump policies are that they are against the U.S constitution and violate human rights which might discourage individuals from immigration to America.

The Woman Trapped Behind The Yellow Wall Of Freedom

â€Å"The Woman Trapped Behind the Yellow Wall of Freedom† â€Å"The Yellow Wallpaper† is a short story written by Charlotte Perkin’s Gilman. This story portrays the feminist point of view on how women are mistreated. The main character is the wife in the story, and she is supposedly mentally ill. Therefore, her husband makes her move to a new house. The new house has a room with barred windows and yellow wallpaper, which becomes the room the wife stays in. The yellow wallpaper in the room has a certain shape trapped behind the wall, the shape of a woman. The wife spends the majority of the story trying to get the woman out from behind the wallpaper where she is trapped. The woman that she thinks is trapped behind the wallpaper is symbolizing how†¦show more content†¦When Gilman says that it is a constant irritant to the modern mind, she is saying how people see it as a nuisance. Yet, it is a clear problem that can be easily fixed, if people realize they are confined beneath the wall of equality. What the main charact er is seeing is her own reflection, how she is trapped by the walls that surround her life that keep her from freedom. Next, the main character, or the wife, understands that she is not like most people in society. She is more of an outcast. Society thinks that she has an erotic behavior, and once she realizes, she does nothing to try to fix the problem. This is evident when in Johnson’s summary, of the story â€Å"The Yellow Wallpaper† it says, â€Å"we might view her behavior as an expression of long-suppressed rage: rage which causes a temporary breakdown†¦ but which represents a prelude to psychic regeneration† (Johnson 2). This also stated when Gilman writes about how the wife views her psychological problems in â€Å"The Yellow Wallpaper†, â€Å"I sometimes fancy that in my condition if I had less opposition and more society and stimulus†¦ it always makes me feel bad†¦ so I will let alone† (Gilman 468). When Gilman talks about how she is an opposition to society and a stimulus, it is a metaphor to describe how women are mentally not as strong as men in society. The rage that she has built up is because everyone is telling her that she is different than others, when in reality she is no different than anyone else. She has tried to makeShow MoreRelatedLiterary Analysis Of The Yellow Wallpaper1512 Words   |  7 PagesIn 1892, Charlotte Perkins Gilman published the story, â€Å"The Yellow Wallpaper†; a short story that addresses the sensitive topic of inequality between men and women during the nineteenth century. The courageous feminist discusses an issue that many were afraid to talk about, the inhumane treatment of women diagnosed with hysteria. She was the voice for the helpless women who didn’t know how to speak up during this revolting oppression. Gilman created the striking novel by using powerful images toRead MoreThe Yellow Wallpaper Essay1453 Words   |  6 PagesThe Yellow Wallpaper is a story that exemplifies the common belief during the 1800’s. During then women were never held accountable for any duties other than being house bidden due to the weakness of handling stress. In the 1800s society was known to look past women who did anything besides house chores and raising children. Majority of women were then meant to be housewives and mothers and seen as the trophy wife and nothing more. It was extremely uncommon for the average women to want to furtherRead MoreThe Yellow Wallpaper By Charlotte Perkins Gilman1472 Words   |  6 Pagesâ€Å"The Yellow Wallpaper,† written by Charlotte Perkins Gilman in 1892, is a great example of early works pertaining to feminism and the disease of insanity. Charlotte Gilman’s own struggles as a woman, mother, and wife shine through in this short story capturing the haunting realism of a mental breakdown.The main character, much like Gilman herself, slips into bouts of depression after the birth of her child and is prescribed a ‘rest cure’ to relieve the young woman of her suffering. Any use of theRead MoreT he Yellow Wall Paper By Charlotte Perkins Gilman951 Words   |  4 Pagesnarrator, who is never fully introduced, narrates the story of â€Å"The Yellow Wall-Paper†, written by Charlotte Perkins Gilman, in the form of a diary/journal. Confined in a mansion to treat her mental illness of depression the narrator becomes obsessed with the ugly yellow wallpaper that covers the walls of her room. Ultimately, I presume that the wallpaper itself represents her relationship that she has with her husband, while the women behind the wallpaper represents herself; which go hand-in-hand. As statedRead MoreThe Yellow Wall Paper By Charlotte Gilman1518 Words   |  7 PagesPerkins (Stetson) Gilman is certainly the most noticeable name in American Literature in late nineteenth century. In her remarkable writing, she uses symbolisms as a dominant instrument for fighting inequality and oppression in men’s world. The Yellow Wall-Paper as her most celebrated and intrigue piece of work, represents a spectrum of symbols that address the general concerns about a woman’s role in the nineteenth century society, particularly within the realms of marriage, maternity and domesticRead MoreEssay On The Yellow Wallpaper916 Words   |  4 Pagesâ€Å"The Yellow Wallpaper† the narrator becomes increasing mad throughout the short story. The narrator has a â€Å"nervous condition† (151) after the birth of her child; under recommendations by her husband and her brother, who are both physicians, her treatment was a Rest Cure which is that narrator cannot nothing anything but lay down and only have two hours of intellectual work a day. The â€Å"dreadful† yellow wallpaper that the narrator comes to hate is, of course, a symbol in the story. The yellow wallpaperRead MoreInternal And External Captivity By Langston Hughes1739 Words   |  7 Pagesconflict between freedom and confineme nt (something that is in constant tandem), it can serve as an interesting theme within a text. In Langston Hughes’ â€Å"The Negro Speaks of Rivers†, he uses imagery to symbolize the important places on the journey the reader has embarked upon and starts with a basis of freedom from a newborn civilization and goes on to explain the confinement of an ever-changing society who has lost its way. Contrasting with that society, Charlotte Perkins Gilman’s â€Å"The Yellow Wallpaper†Read MoreCompare and Contrast the Garden Party and the Yellow Wallpaper1236 Words   |  5 PagesParty† and Charlotte Gilman’s â€Å"The Yellow Wallpaper† are both centralized on the feministic views of women coming out to the world. Aside from the many differences within the two short stories, there are also similarities contained in Chopin’s. Both Party and Wallpaper are what we today might categorize feminist works of fiction. Both reveal women who are imprisoned, though one is imprisoned more literally than the other. â€Å"The Garden Party† and â€Å"The Yellow Wallpaper,† such as the same conceptRead MoreRhetorical Analysis Of Charlotte Perkins Gilman1700 Words   |  7 Pagesshe wrote a large amount of importance in furthering her ideology with society and reformation at the time. â€Å"The Yellow Wallpaper† uses the symbolism of the story s title, confinement to the room, and the narrator’s husband to reveal different themes about society at the time the book was written along with why Gilman wrote the story as she did. Gilman wrote â€Å"The Yellow Wallpaper† in 1890, and it was officially published by The New England Magazine in January 1892. During this timeRead MoreAnalysis Of The Poem The Yellow Wallpaper 1560 Words   |  7 Pages â€Å"The Yellow Wallpaper† provides an insight into the life of the narrator- a woman suppressed and unable to express herself because of her controlling husband- leading the reader down her fall to insanity, allowing for her inner conflict to be clearly expressed. The first person point of the view the author artfully uses and the symbolism present with the wallpaper cleverly depicts the inner conflict of the narrator, losing her own sanity due to the constraints of her current life. However, while

Americanization of Canada Free Essays

Former Canadian Prime Minister, Trudeau once compared living next to America to sleeping with an elephant. He said, â€Å"You can not help but be aware of its every movement. † American culture influences not only Canadian culture but also the culture of every country in the world. We will write a custom essay sample on Americanization of Canada or any similar topic only for you Order Now Sneakers, blue jeans, burgers, and Hollywood blockbusters are only some of the many ways American culture impacts everybody. One of the most telling signs of Americanization seems to be the spread of American burgers and cola to nearly every country on earth, crowning the United States as the king of pop culture. Since the start of the 21st century, the massive role that the United States plays in every aspect of Canadian life continues to grow more apparent. Canada and America are each others main allies because of their proximity in terms of culture, history and geography. Canada’s floundering identity is slowly diluting and digressing towards a more assertive American way of life. By choosing to model their society and economy after America’s, the threat of Canada failing to create a distinctive heritage for itself becomes much more realistic and apparent. By defining America, their society, and economy one can see the threat of Canada losing its heritage is increasing. The Canadian and American relationship is much like the relationship of Siamese twins. They can not be separated without one of them dying and they can not be apart no matter how hard they try. This makes it even more difficult for Canada to establish their own identity and purpose because America’s cultural influences are so profound and apparent in Canadian culture and way of life. No matter how hard they try, Canada’s culture will always be intertwined with America’s culture. The media is one major way that America has influenced Canada. Canada does not have a true identity and from an outsider of both countries, they will often confuse America and Canada. How to cite Americanization of Canada, Essay examples

Harmonization in IFRS & Australian GAAP-Free-Samples for Students

Question: Discuss about the Harmonization in IFRS and Australian GAAP. Answer: Introduction With the changes in economic and increasing implication of accounting policies and standards in reporting frameworks of organization, it is observed that financial reporting practice of listed companies have changed vastly throughout the time. However, there are several problems and conflicts which are faced by listed companies and Australian government while establishment of proper level of harmonizations in GAAP accounting standard and IFRS rules and regulation. This report has reflected the problems faced while establishment of harmonizations in GAAP accounting standard and IFRS rules and regulation. In addition to this, adamantine study has been prepared to provide advantages and disadvantages of application of IFRS rules and regulation in reporting frameworks of organizations. In order to provide proper nexus between application of IFRS rules and regulation and GAAP accounting standard, Woolworth Company has been taken into consideration (Soderstrom Sun, 2007). This company has been running its business in super market industry in Australia. However, with the ramified economic growth, this company has opened up its business in other international market. It could be inferred that International financial reporting standards is set of accounting standard developed by an independent not for profit IASB. However, there are several corporate bodies such as united nation, International accounting standard Board and other legal authority which has made mandatory for the Australian listed companies to comply with IFRS rules and regulation for reporting of their financial statement. Reason for Harmonization This report has reflected how IFRS and domestic accounting standard differ in different countries due to their different policies and norms. Reducing complexity of multinational companies It is evaluated that International financial reporting standard has been issued with a view to mitigate the problem of complying with dual accounting standards due to international business functioning. However, reporting standards are applicable in Australia to increase the transparency of business information to companys shareholders. For instance, if company is running its business in USA and having reporting headquarter in Australia then in that case company would have to comply with accounting standard of two countries. Company in Australia has been following Australian GAAP and IFRS rules and regulations while preparing and filing its annual report with Australian and international authority (Annual report, 2016). However, there are several challenges faced by companies while establishment of harmonizations in GAAP accounting standard and IFRS rules and regulation such as implementing impairment test, valuation of goodwill and other intangible assets and determining the market value of assets of company (Haller Wehrfritz, 2013). Globalization of financial market International investors who make investment in Australia face problem in interpreting the financial results of company if company has followed GAAP rules and domestic accounting standard in preparing its financial statement. These problems arise due to the complexity of two accounting standard and two different methods. However, companies could mitigate these problems if they could bifurcate the financial data computed and shown in the books of accounts as per the IFRS rules and regulation. Reducing complexity in reporting of financial statement of companies There are other several issues which are faced by companies while complying with IFRS rules and Australian GAAP such as make financial statement of one country comparable with other country, using of different accounting model and methods while valuing assets of company as per IFRS rules and conflict in adoption of historical cost method and market value method for determining the true and faire view of assets as per the IFRS rules and Australian GAAP accounting standard (Haller Wehrfritz, 2013). Increased level of transparency There are many other entities and stakeholders that can get benefit from harmonization like tax authorities as they need not to deal with foreign income and it can reduce the complications of their work. It can save a lot of time and money in consolidation of diverse financial information when there is more than one data (Wu Lin, 2014). If companies adopt international accounting standard then it will also increase the overall transparency of financial statement to stakeholders. Adoption of IFRS by International accounting firm International auditing firm are indulged providing services in all over the world. It makes simplicity in following accounting procedures and accounting standards. Preparation of financial reports and accounting reports become so easy after establishment of harmonization in IFRS and GAAP rules and regulations (Tschopp Nastanski, 2014). Increased and effective interpretation of financial information to stakeholders It is evaluate those traders and investors needs opportunities and exposure to all over the world but there is a problem related to different accounting methodologies. This affects comparisons and various analyses related to different investment options Mintz, 2010). This becomes helpful for the investors who wish to invest outside their country as they use accounting and finance related information in decision making. This results in effective utilization of resources and good decision making. Without worldwide accounting system, it is very difficult to judge various investment plans and analyze benefits of alternative investment opportunities. Uniformity of such systems helps in removing such disparities (Jnior, Hein, Wilhelm, Kroenke, 2015). For instance, Consolidation of Financial statement is also one example. If companies follow IFRS rules and standard then it will increase the transparency of financial information and includes cash flow statement in its books of account (Skog lund, 2014). Issues in harmonization As per European Union, harmonization refers to the process of creating common standards that are applicable across the market. The main motive for harmonization is to create a consistency of laws and regulations so there should be common rules for a business that operates in more than one state (Akgn, 2016). Conflict in recording of financial transactions It is true to say that if company wants to prepare one consolidated financial statement and one annual report for all of its domestic and international transactions then it has to follow IFRS rules and standard in proper manner. However, if company follows IFRS rules and regulation in determining the value of assets and recording entries then it may result to changes in value of amounts shown in its balance sheet. Company could justify this difference in amount by showing the complying and applicable IFRS standards details in notes to account of company. Complying with other applicable rules and regulations while establish harmonization in IFRS and domestic reporting standards Other problems which companies on international level could face while reporting its financial statement on international level such as different tax system, applicability of two different accounting frameworks, valuing plants and machinery of company and using different accounting concept (Tschopp Nastanski, 2014). Great expansion of world trade and investment on international basis has been increased due to harmonization. If everything has become international then it will become easy to meet needs of international users (Srivastava Gupta, 2014). It is evaluated that multinational companies has to prepare their financial statements for each and every country differently as per their different requirement. However, there are several countries in which no proper accounting standards are followed. Therefore, with the help of harmonization, these companies could adopt readymade international accounting standards and get the benefits out of this. (BPP LEARNING MEDIA., 2016). Application of international rules and regulations Adoption of IFRS involved a lot of cost as there is a change in all the standards. It required too much disclosure and some of their benefits are more than the cost for the same. One problem is related to wrong interpretation of financial statements between the creators and the auditors. (Palepu, Healy Peek, 2016). Another issue is related to interpretation of newly issued rules and standard by IASB. Companies in Australia and other stakeholders get confused with new IFRS standards while modification and changes issued by IASB on international level. In addition to this, other problem is faced by company while filling of consolidation of financial statement with international authority (Yu Wahid, 2014). There are several issues faced by Companies in adopting IFRS rules and regulation for preparing and filing of its annual report with international authority (Vidal-Garca, Vidal, 2016). Cultural differences Harmonization does not consider political, social and cultural differences between different countries that impact in the implementation and interpretation of various things. Acceptance of IFRS rules and standards all over the world There is a lot of interference of politicians in National standards of accounting. Decisions of such politicians create a lot of impact in decision making related to acceptance of accounting standards. Training and development for employees and stakeholders for interpretation of new rules and standards When a country harmonizes its standards then it creates a problem because in such cases training should be provided to auditors and accountants. Colleges and institutions also have to change their curriculum in such case. It is difficult for people to adopt these changes as it is not necessary for everyone to become comfortable in every system. ("Standardisation, Accreditation And Harmonisation", 2014). Country level analysis (Australia) Australian GAAP and IFRS rules carry same aim of increasing transparency of financial information to companys stakeholders (Nnadi Tanna, 2016). The main concepts of both are same when consideration is made at micro level at the individual standard level. However, consideration is made at micro level differences at the individual standard level. (Mintz, 2010). There are several differences which could be considered while following IFRS rule and Australian standards such as statement of principle allows use of historical cost while recording assets. Australian government has issued various compliance programs to make mandatory adoption of IFRS rules and regulation to establishment of harmonizations in GAAP accounting standard and IFRS rules and regulation for better level of transparency of accounting and financial information. However, companies face conflict between both standard while valuing assets and recording transition then IFRS rules and standards will prevail. In case of con flict between both standard, companies have to comply with the standards and rules given under international financial reporting standard. As per IFRS rules both methods such as purchasing pool and merger accounting could be used by company. On the other hand, in case of Australian GAAP only fair value method could be used (Andr, 2017). Australia has adopted IFRS as there were several benefits with the same like to lower the cost of capital, decrease in cost for auditors, creators and users of financial reports, to remove gaps in Australian GAAP etc. There were some disadvantages also like there was a lot of cost include in acceptance of such standards, loss of guidance, loss of freedom to create own standards. There were different outcomes of adaptation of IFRS like Australian accounting statement has become more simplex as well as understandable by everyone, recognition of financial statement has become easy etc. (Walton, 2010) After the adoption of IFRS, the quality of reporting has been improved. There are indications of positive impacts on the economy of Australia. There is an organization named Woolworth plc. It has adopted IFRS and that affects a lot in the functioning of the organization like- IFRS considers intangible assets only if it has a future value or we can say future benefit but in case of GAAP, intangible assets are recognized as per its fair value (Mulyadi, S., Soepriyanto, Anwar, 2012). Under IFRS , the method of inventory calculation Last in first out (LIFO) is not allowed and under GAAP Last in first out and First in first out can be used for inventory calculation (Walton, 2010) Under IFRS, if there is a written down in inventory, then in future there is an option of it reversible but in GAAP if inventory is written down, then it cannot be reversed in any case (Mintz, 2010). There is a concept called going concern. In GAAP going concern is not as much developed but In IFRS, all such principles like going concern and accrual concept are well developed (Bohuov, 2014). In case of GAAP, the main motive or objective of providing financial statement is to give appropriate and segregated information to stakeholders as it has separate objectives for business and non-business entities. (Kang Gray, 2013) In GAAP, there are some standard guidelines for financial accounting need to be followed and in case of IFRS; there are some common international standards that allows international entities to understand each other in a more detailed way. GAAP are used in only United States and IFRS are used in approximately 110 countries. Company level analysis (Woolworth Plc) Woolworth is an international company running its business in Australia and other countries. However, company has been following Australian GAAP and IFRS rules and standards in preparing and filling its annual report with concerned authority (Annual report, 2016). Impact on Valuation of assets and liabilities of Woolworth after harmonization of IFRS rules and standards Woolworth Company has established proper level of IFRS rules and Australian accounting standard for strengthening its reporting frameworks (Annual report, 2016). Ideally, companies face problem related to valuation of assets while complying with IFRS rules and standards in their reporting frameworks (Jamal, et al. 2008). Woolworth has recorded all of its fixed assets at its book value or market value which ever is higher. As per the Australian GAAP, valuation of tangible assets should be based on the historical cost and impairment test. If Woolworth has followed GAAP rules then it would have shown deducted all of impairment losses from it profit and loss account and also resulted to less value of shares. On the other hand, as per the IFRS rules and standard, valuation of these assets should be made on the basis of cost value and market value whichever is less (Bohuov, 2014). Therefore, due to the different requirement and contradiction, Australian government has passed regulations fo r all listed companies to follow IFRS rules and regulations over Australian GAAP in case of any conflict and problems follow proper level of IFRs rules and Australian GAAP standards then it would strengthen its reporting frameworks. However, Woolworth has faced problem in reflecting the value of assets and liabilities. Woolworth finds difficulty in complying with common accounting standards then it could record its assets value in books of account at their market value or cost value whichever is less (Yu Wahid, 2014). On the other hand, GAAP Australian standard focus on determining the value of its assets as per the impairment tests (Srivastava Gupta, 2014). Another problem which Woolworth has faced while valuing of its assets is related to separate methods to book entries in the financial books of accounting. It creates conflicts in valuation of assets while recording the assets and liabilities of company in books of accounts (Odia Ogiedu, 2013). This has shown that all the asse ts of Woolworth have been recorded at their cost value after implementing proper provisions. IF GAAP rules are adopted by Woolworth then assets shown in the financial statement should have shown at the less value and profit and loss should be shown at less value after deducting impairment loss (please see the Annual report of company for more details) (Annual report, 2016). Conclusion In this report, study has been prepared over how government of different countries could establish proper level of harmonization in IFRS rules and standard for the better level of transparency of financial information to stakeholders. Nonetheless, Australian government has passed newly introduced rules and regulations for strengthen the reporting frameworks of listed companies. All the listed companies have to comply with IFRS rules and regulations to make proper level of international reporting frameworks. However, in case of conflict between Australian GAAP and IFRS rules and regulations company should be more inclined towards following IFRS rules and standard for preparing and reporting of financial statement. Now after evaluating all the facts and secondary research from various sources, it could be inferred that all the listed company should follow international financial reporting standards. Woolworth Plc has followed proper level of IFRS rules and standard in formulating balan ce sheet and accounting books. If Woolworth plc does not comply with international financial reporting standard then it may result to destruction of foreign clients trust and they would face difficulty in interpreting financial statements (Jeanjean Stolowy, 2008 Recommendation It is observed that due to the complexity in international reporting frameworks, company has to establish proper level of harmonization in Australian GAAP accounting standard and IFRS rules and regulation while reporting its financial statement and other document with its stakeholders. Nonetheless, there are several companies around the globe such as GE capital, Wesfarmers, Morrison plc and so on which are facing problem of harmonization in complying with domestic and international accounting standard in formulating and reporting of financial information with stakeholders for better transparency. Woolworth should follow international accounting standard in order establish proper harmonization between domestic and international accounting standard. References Akgn, A. ?. (2016). Quality of the Financial Reporting within the IFRS: Research on Determining the Attitudes and Evaluations of Financial Information Users.Muhasebe ve Finansman Dergisi, (69). Andr, P. (2017). The role and current status of IFRS in the completion of national accounting rulesEvidence from European countries.Accounting in Europe,14(1-2), 1-12. Annual report, (2016), Woolworth Plc, Reterived on 30th July 27, 2017, from https://www.woolworthsgroup.com.au/page/investors/our-performance/reports/Reports/Annual_Reports Bohuov, H. (2014). General aaproach to the IFRS and US GAAP convergence.Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis,59(4), 27-36. Bozos, K., Ratnaike, Y. C., Alsharairi, M. (2014). How has the international harmonization of financial reporting standards affected merger premiums within the European Union?.International Review of Financial Analysis,31, 48-60. BPP LEARNING MEDIA. (2016).IFRS EXPLAINED. [Place of publication not identified]: BPP LEARNING MEDIA. Das, M. D., Das, P. P. (2014). HARMONIZATION OF ACCOUNTING STANDARDS: A STUDY WITH SPECIAL REFERENCE TO INDIAN AND INTERNATIONAL ACCOUNTING STANDARDS. Haller, A., Wehrfritz, M. (2013). The impact of national GAAP and accounting traditions on IFRS policy selection: evidence from Germany and the UK.Journal of International Accounting, Auditing and Taxation,22(1), 39-56. Jamal, K., Benston, G. J., Carmichael, D. R., Christensen, T. E., Colson, R. H., Moehrle, S. R., ... American Accounting Associations Financial Accounting Standards Committee. (2008). A perspective on the SECs proposal to accept financial statements prepared in accordance with International Financial Reporting Standards (IFRS) without reconciliation to US GAAP.Accounting Horizons,22(2), 241-248. Jeanjean, T., Stolowy, H. (2008). Do accounting standards matter? An exploratory analysis of earnings management before and after IFRS adoption.Journal of accounting and public policy,27(6), 480-494. Jnior, M. M. R., Hein, N., Wilhelm, V. E., Kroenke, A. (2015). Impact of convergence to IFRS on the economic and financial performance of construction and transportation enterprises: a study conducted through data envelopment analysis.Applied Mathematical Sciences,9(91), 4499-4521. Kang, H., Gray, S. (2013). Segment Reporting Practices in Australia: Has IFRS 8 Made a Difference?.Australian Accounting Review,23(3), 232-243. https://dx.doi.org/10.1111/j.1835-2561.2012.00173.x Mintz, S. M. (2010). 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