Coupetops

Filipino music and art have both been influenced by the cultures that have migrated to this nation. The first type of music that developed in the Philippines was indigenous music brought here by native tribes that migrated from Taiwan. There are three basic groups of indigenous music styles: southern styles, northern styles and other styles. The southern style of music usually involves five different instruments including the kulintang, the agung, the gangdinagan, the dabakan and the babedil. The northern styles of indigenous music reflect Asian gong music. Their music usually features the unbossed gong called the Gangsa. In addition to the instruments used by southern and northern music styles, other instruments used in the Philippines include log drums, flutes, bamboo zithers and the Kudyapi.

Hispanic cultures from Spain and Mexico have greatly influenced the development of Filipino music. These cultures have introduced musical forms like the Harana the Kundiman and Rondalla. Most of these music forms developed as a result of the fusion between tribal music styles and traditional Spanish and Mexican music. Today the influence of Spain and Mexico is still present in modern Filipino music. Modern popular music in the Philippines still has a Hispanic flavor.

Filipino Art has its roots in indigenous traditions and colonial imports. Like most cultures, the Philippines have their own style of plastic arts like sculpture and painting. However, they also have their own style of movement arts like dancing. Some of the most notable artists from the Philippines include Fernando Amorsolo, David Cortes Medalla, Nunelucio Alvardao, Juan Luna, Felix Hidalgo and Rey Paz Contreras.

As you go about your quest to live a healthier lifestyle, it is not only essential you consider the foods you are putting into your body, but also the beverages you are taking in as well. The fact of the matter is even slight dehydration can have a profound influence on how you feel and function on a daily basis.

Learning to recognize these signs before they get too serious may just help you prevent unwanted issues before they start. Most people know thirst as the main sign, but there is more to be on the lookout for.

Below are four key signs of dehydration not so recognizable that you will want to keep your eyes open to…

1. Headaches. You know the pounding throbbing headache you sometimes have? Perhaps the problem could be attributed to dehydration. Most people are fast to write their headache off as just a normal occurrence, but it may not be. If you are chronically dehydrated, you may be experiencing headaches far more frequently than someone who isn’t.

Take in a glass or two of water and see if that doesn’t give you relief.

2. Sleepiness. Chalking your mid-day sleepiness off to only getting seven hours of sleep the previous night instead of your usual eight? Sleepiness can also be a sign of dehydration. Ideally, you will want to start your day off with a large glass of cold water and then keep the water coming in beyond that point.

By doing so, you can ensure you are putting your best foot forward regarding combating drowsiness during the day.

3. Muscle Cramps. Feeling those muscle cramp more often? Or perhaps you are getting those annoying muscle twitches as of late. Both can be attributed to lack of sleep. When you are not well hydrated, your muscle cells are not functioning normally, and you may be more prone to experiencing irregularities with contractions.

Muscle contractions are especially common during exercise, so if you have to take a stop during your run because of a bad leg cramp, it may be time to drink up.

4. Lightheadedness. The last sign you could be suffering from dehydration is feeling lightheaded. Lightheadedness comes on because your blood pressure is low, which is also a sign of not enough fluids entering into your body.

When dehydration occurs, less total blood volume will be circulating throughout your system, which then causes overall blood pressure levels to lower.

Take in a glass of water, and that should fix things almost immediately.

There you have a few of the not-so-obvious signs you may be suffering from dehydration. Are any of these impacting you?

 

Not unlike other businesses, hotels have been forced to step up their game as people travel less and, when they travel, their budget is smaller in a still lagging economy. While the goal is always full occupancy and high occupancy rates, all hotels have unoccupied rooms that need to be filled. Hoteliers realize that their hotel are each one among many and that consumers have a variety of hotel options to choose from. Hotels realize that part and parcel of maintaining their occupancy rates is offering the right amenities at a competitive rate in order to attract new guests and retain returning ones. In the lodging industry, hotels must be ahead of current trends in order to better their occupancy rates which means being mindful of hotel supplies guests prefer as the mind their budgets.

Hoteliers start with the premise that most hotels offer the same basic hotel supplies and amenities such as complimentary toiletries, durable ice buckets and functional hangers. They offer the basics in an effort to make a guest’s stay comfortable by offering the conveniences of home. While the definition of “basic” hotel supplies will vary depending on the hotel class, most hotels provide drinking glasses, either plastic, an ice bucket of either shatter proof plastic or faux leather and an iron with ironing board. Hotels compete with one another for business. The amenities they offer are part of that competition which is why guests find many hotels in the same general area and price range with the similar amenities and hotel supplies.

Depending upon the sophistication of the hotel itself, guests may define ‘basic’ differently. Absorbent towels, bed linens with higher thread counts, bowed shower rods, and heavy duty wooden luggage racks become basic, expected hotel supplies in mid-grade hotels. Because they’re constantly competing for guests in order to maintain their occupancy rates, hotels are constantly striving to best their competition. This is truer the more sophisticated the hotel as they know consumers have a wide variety of options and the standards such as drinking glasses and coffee service are no longer enough. Instead, hotels must study what the new basic is and add it to their repertoire of hotel supplies and amenities in order to impact their occupancy rates.

5 Star hotels and resorts are on a unique plane in every way from the level of guest services they offer to the list of available conveniences and amenities offered to attract guests and increase occupancy rates. Microfiber bathrobes and slippers, monogrammed glass tumblers, video game systems and fog free shaving mirrors are among the high quality hotel supplies offered to guests at resorts and luxury hotels. They hope, and the numbers tell them, that by offering amenities that are above and beyond the basic hotel supplies provided by their competition they’ll not only attract and retain wealthier guests but increase their occupancy rates as well.

It’s a given that hotels, regardless of their rating and price point, want to please their guests by offering the best possible hotel supplies and amenities. However, when hotels are reviewing the amenities they may offer guests, deciding which specific hotel supplies they’ll offer will depend in part on their budget and what prior hotel guests have indicated they’d like to see or be likely to use. Hotel supplies are an intrinsic part of the hotel experience and their impact cannot, and should not, be under estimated as they can affect occupancy rates. All else being equal, the right hotel supplies can make or break a guest’s experience.

The real estate market is a booming industry. The success of the industry is a result of competition and the intervention of modern technology. Most people in the business prefer to use real estate property management software to stay ahead in the race. This software has been designed to cater to commercial and residential property, office buildings and apartments.

Real estate property management software is an effective and easy-to-use tool. This software helps people understand the real estate business. It is a quick response application that can store each detail of every transaction. This helps study non-payments and full-payments of rent, and maintains a detailed report of rent receipts and invoices.

Property owners are able to key inputs as and when required. The secured system is intelligent and allows changes from authorized personnel. Real estate property management software can evaluate an unlimited number of properties and units simultaneously. The software stores detailed data related to rent payments for all individual properties. This systematic approach eliminates any problems due to taxation.

Real estate property management software generates automated reports in cases of wrong payments and non-payments. The software does away with the practice of owners waiting for rent payments. All maintenance expenses or any extra revenue statements are regularly updated. The software also stores tenant information.

Residential property managers must select property management software that is most suited for their work. These applications are available with one-month money-back guarantees.

The residential property management system is considered to be time- and cost-effective for a manager and resident. The application can create a personalized website for an individual company in a relatively short time. This allows prospective and existing customers to visit the web site. This is a convenient method to view pictures of property, pay rent and submit maintenance requests.

It is fair to say that the majority of women love fashion and wearing beautiful clothing. It is probably equally fair to say, that only a minority of women choose to wear dresses as part of their clothing. There are many reasons for this, but mostly it is due to a lack in confidence in their ability to carry-off a casual and natural air when wearing dresses.

However, there is nothing more simple, or easy, to wear than a casual dress. Here, we will offer some advice on the types of dresses available today, in the hope that by understanding a little, a lot of confidence can be gained and that perhaps a few more women will experiment with their clothing and begin to wear dresses with poise and self-assurance. If just one woman changes her mind, and decides to experiment with dresses, then this article has done its job correctly.

There are various styles of dress, which can be separated into different categories depending on their cut. There are many styles of dress, from the casual dress that can be worn every day, to the formal dress that is generally worn only on special occasions. In this latter category is the gown, made famous through various fairytales, such as Cinderella and Rapunzel – and many girls spend their childhoods dreaming of the opportunity when they can finally wear a gown themselves.

In adulthood, there are many opportunities for wearing such a dress, most notable are the end-of-school Dinner Dance, graduation ceremonies, and most of all, weddings. The gown style dress is arguably the most feminine style of dress, flattering the figure in a manner that is attractive, and yet, not too revealing. Although they are not ‘sexy’ in the sense that a little black dress may be, they are supremely alluring nonetheless.

Beyond the gown, there are various styles of casual dress, such as the mini-dress, the sheath dress, the shift dress, the sweater dress…so much so, in fact, that women are spoilt for choice. And given the incredible range of dresses that can be found, there is certain to be a cut/style to suit even the most ardent of dress-protesters! Dresses can make a statement to the world about the type of person you are, saying ‘I am confident, chic, and sure of who I am’ – no other item of clothing can boast quite that reputation, with the exception, perhaps, of the stiletto heel.

Different countries have different traditions when it comes to wearing dresses, and indeed, even in the UK, until the Women’s Movement of the 1960s, it was practically unheard of for women to wear trousers!

 

When it comes to the choice between using an online travel agency or not for your next trip, there are several factors to consider with several pros and cons.

One of the main concerns that seem to arise with online travel agencies is the trustworthiness and security of paying such large amounts of money online. While online security is a major factor for any online travel agency, this is true of all online businesses. So it is more a matter of choosing a travel agency online with a quality reputation by looking at their customer reviews and see what their actual site itself is like. What’s more, when you are logging on and preparing to pay for any online costs, there should always be that small symbol of a lock at the bottom right hand side of the screen as a sign of the level of security attached.

The benefits of using online travel agencies are that unlike their physical counterparts, they are available at any time, ideal for emergency travel situations, and also for any late after-hours bookings that you need to complete. Additionally you can compare travel deals and special available all over the world in order to find the very best deal for you and your travels. What this means is that while a physical travel agency will have a great range of deals for you, they are limited by who they can work with in terms of other travel professionals. With these online agencies, it up to you to decide who you work with, allowing you to create your ideal travel plans.

What you may also find when working with online travel agencies that you will have a great range of methods to pay for the holiday, offering greater flexibility and financial choice. These choices can range from the standard credit cards and accounts to payment plans and travel accounts.

Overall when talking online travel agencies it is more a matter of preference of the customer and how they prefer to do their business, either online or in person, that should dictate how they book their travel plans.

 

We all know how special interest groups can blow things out of proportion – like the nonexistent “Exotic Pet Crisis.” If you listened to some animal rights groups, you’d think keeping exotic pets is cruel, dangerous, and even bordering on treason! Before you buy that agenda, consider that a junior high student once made a convincing case for banning dihydrogen monoxide: colorless, odorless, and tasteless, it kills thousands of people every year.

Most deaths are caused by inhalation, but the dangers of dihydrogen monoxide do not end there. Prolonged exposure to its solid form causes severe tissue damage. Dihydrogen monoxide is also known as hydroxl acid, is the major component of acid rain, may cause severe burns, contributes to land erosion, may cause electrical failures and decreased effectiveness of automobile brakes, and has been found in excised tumors of terminal cancer patients.

This report was presented to 50 students, asking them what should be done about the chemical. 43 students favored banning it, 6 were undecided, and only one correctly recognized that ‘dihydrogen monoxide’ is actually H2O — plain old water. How gullible are you?

Banning my cat makes about as much sense as banning yours – and the results are just as heartbreaking for pet and owner. Are you ready for the truth about the “Exotic Pet Crisis?”

  • Exotic pets are not dangerous! One study showed that the risk of injury to exotic cat owners was less than the risk of injury due to a domestic dog bite. And every person who drives a motor vehicle subjects themselves and their family to a risk three times greater then does someone who owns even a large exotic cat such as a tiger.
  • Most exotic pet owners are kind, intelligent people who adore their animals and take excellent care of them. We love our pets just as you love yours.
  • Exotic animal bans result in beloved pets being confiscated, impounded, and usually killed. A lucky few live out their lives in cages under the care of strangers in zoos and sanctuaries. This is the dirty secret animal rights groups don’t want you to know. Banning does not help animals: it kills them!
  • Exotic cat ownership is already regulated by the U.S. Department of Agriculture, the U.S. Department of Interior, the U.S. Fish and Wildlife Service, CITES, the Animal Welfare Act, the Endangered Species Act, the Lacey Act, more city, county, and state regulations than you can shake a stick at, as well as existing animal welfare and public safety laws that govern both exotic and domestic animals.
  • “You can buy a tiger on the Internet for $100.00,” research-averse activists proclaim in horror. Just try to order up a tiger online, or even a serval. You won’t succeed. This urban legend has great repeatability at cocktail parties and save-the-cute-animals-from-evil-humans fundraisers, but is severely lacking in the reality department. Breeders do have web sites, but it takes much more than a click of the mouse to purchase an exotic cat.

 

You don’t have to be a real estate expert to have heard of release agreements. A release is one of the most common types of contracts in the world of law. They are used to allow a company to use someone’s image for commercial use. However, a real estate release agreement isn’t quite the same thing. In most cases, releases are used by prospective buyers to release the seller from the mortgage or liens they have on a property so that the property is debt free. The form is extremely short and is often only one page when presented. Let’s take a look at a typical contract requiring a seller to obtain release of mortgage on a property.

The first part of the contract clearly outlines the date that this agreement is being signed, the names of both parties involved in the transfer of the property as well as any spouses of the members involved in the agreement. The second part of the agreement outlines the terms and conditions that the property in question is under. It goes over how much debt the property has attached to it and whether the property has a mortgage debt or a lien debt associated with it. It also outlines the purchase price of the property and how that purchase price can now be used to pay off any and all debt associated with the property. This type of form is used mostly to ensure that the seller will eliminate all debt from a piece of property when the sale is complete as agreed upon in the original sale agreement. Some people consider this form to be a bit redundant, but you can never be too careful when it comes to legal wrangling and property.

The final part of the agreement only requires the signer to include their names, the amount of the total debt still present on the property and finally, the amount that is being paid off. Much of the contract will simply be pre-typed text, often a template, that outlines the seller’s responsibilities once the sale is finalized.

If the buyer and seller of the property agree beforehand, a real estate release agreement isn’t necessary. It could be part of the original sale agreement that the buyer is responsible for paying off any existing debt on the property and not the responsibility of the seller. Since every legal agreement is different and many of them have their own unique provisions, some real estate release agreements can vary considerably from the one outlined here.

In conclusion, the real estate release agreement is a safeguard instituted by the buyer to ensure that a piece of property that has debt associated with it is paid off in full with the money gained during the sale by the seller so that when the final transfer of the property is finalized, it is debt free. It is vital that this agreement be included if you are buying property that has debt attached to it.

 

In this article, we aim to provide an educational means to understanding how to save a considerable amount of money when traveling with a family or large group. In the case study below, we’ll show how Ultimate Luxury Rentals vacation homes in Tucson, AZ have saved the vacationers coming to the area time, money, privacy, and a “home away from home” feel.

First off, you may be wondering, what is a luxury home rental? Well, we will get to that later in the article. Let’s start with some of the reasons people are now renting these vacation homes as opposed to

Many vacationers choose to rent a vacation homes for a variety of reasons. Economics is one of the primary reasons. A vacation home can replace 2-4 hotel rooms at a fraction of the cost. Vacationers can eat their meals at home or even cook up their favorite meals on the barbecue. Our average vacation rental customer saves over $2000 in a 1 week stay. Privacy is another major consideration when choosing a vacation rental home over a hotel or resort. Many vacation homes include enclosed back yards with private heated pools and spas. Guest can enjoy their gathering of friends and family without interruption. Amenities are probably the main reason vacationers continue to rent vacation homes year after year. Many vacation rentals offer amenities that are superior to many upscale hotels and resorts. Pillow top mattresses with sateen sheets, plasma TVs, free wireless Internet, pool or game tables, fully stocked gourmet kitchens, private heated pools and spas and some of the most spectacular city and mountain views in town.

In addition to the home itself, the destination you choose has its own attractions and amenities. Continuing with our case study of luxury homes in Tucson, Arizona, here is a little history of the Old Pueblo and some of the history that attracts people to this particular destination.

With its mixed cultural heritage and international population, Tucson’s traditions span centuries of habitation from prehistoric Indian cultures to recent immigrants from all over the world. Today Tucson has become a destination for many visitors particularly those looking to rent a vacation home in Sonoran Desert of Arizona.

True to its Old West beginnings, Tucson’s first inhabitants roamed the area hunting mammoth and bison between 12,500 and 6,000 B.C. Following them were the Cochise , who built pit houses and used stone tools, and the Hohokam, who began farming the valley in 300 A.D.

In 1692, Spanish missionaries arrived in the valley to find the Indian village S-tukson (“black base”). In 1775, the Spanish built an outpost, the Presidio of San Augustin.

By 1804, some 1,000 people lived in the adobe village – mostly Spanish, Mexicans, and Native Americans who made their living raising crops and livestock. After the Mexican Revolution of 1821, Tucson became part of Mexico.

Looking for a southern rail route, the U.S. negotiated the Gadsden Purchase with Mexico in 1854 and Arizona became a U.S. territory. In 1867, Tucson became the territorial capital for the 10-year period, which accelerated civic progress.

In 1885 , The territorial legislature approved $25,000 to build the University of Arizona. The city continued to grow rapidly, reaching 7,000. Around the turn of the century, Tucson began attracting thousands of tuberculosis victims seeking a cure in its dry climate. In 1912, Arizona became the 48th state to enter the union.

Fueled by Industries and tourism, the population of Tucson grew rapidly – at one point welcoming 1,000 newcomers each month. By 2000, the population had reached 800,000.

Vacation rental homes in Tucson, Arizona offer a wide range of choices to visitors from all over the world. Many different neighborhoods comprise the city and offer vacationers a large selection of accommodations and activities.

The Tucson Mountains are located approximately 8 miles west of Interstate 10. The proximity to Interstate 10 makes day trips to Phoenix, Tubac, and Nogales Mexico very convenient. Some of the most desirable luxury vacation rental homes in Tucson Arizona are located in this area. These vacation homes boast some of the best city and mountain views in the state. Most of the luxury vacation rentals are located on acre plus lots with private pools and spa and offer an experience that is one with nature. Vacation rental customers may have the pleasure of seeing many of the desert’s wildlife such as the javalina, coyote, bobcat and a wide variety of birds such as hawk, dove, quail, and the state’s official bird, the road runner . Vacation rental guests will also have a wide variety of attractions such as the Sonoran Desert Museum, Old Tucson Studios, Wildlife Museum, Gates Pass, and the Saguaro National Park West. The west side of town appeals to the business traveler as well. Many of the Ultimate Luxury Rentals vacation rentals are located less than 10 minutes from the Tucson convention center. These homes’ locations put you in the heart of the most beautiful desert in the world, the Sonoran Desert. During the first 2 weeks in February, The TCC is home to the Tucson gem and mineral show the largest gem and mineral show in the world. Parents of University of Arizona students choose west side vacation homes because they are very convenient for visiting their child during the holidays or celebrating a graduation.

The Catalina Foothills is the largest mountain range in the valley and a well sought after area of town for visitors looking to rent a vacation home in Tucson AZ. Several upscale resorts and spas have made the Catalina’s their home. The Catalina foothills area has a wide variety of restaurants as well as upscale shopping at La Encanta and St Phillips Plaza. For those looking for hiking and site seeing, the Catalina area offers the Sabino Canyon Recreational Park. For vacation visitors looking to escape the summer heat (temperatures average 20 degrees lower than the city), you can take a 25 mile drive up to the top of Mt Lemmon. The Tucson vacation rentals located in this area consist of a large selection of luxury vacation rental condominiums and single family vacation homes on ½ acre lots with excellent mountain and city views.

Oro Valley has been one on the most rapidly growing areas in Tucson. Many of the vacation rental homes and condominiums are new construction and offer very upscale accommodations. There are many fine restaurants to choose from as well as some of the best golf resorts in town. The is only disadvantage to renting a vacation home in Oro Valley is the traffic. Traveling to and from Oro Valley at the wrong time of day can be quite a chore. Travel times to other areas of town such as the Tucson mountains and the east side can take up to 45 minutes or longer.

As you can see for this particular destination, there is an entourage of amenities, attractions, scenery, and history. In order to make the most of your trip, it would obviously be to your benefit to have extra funds. Luxury vacation rentals are a win-win option for your trip. Aside from your destination, they are certainly something to look into. Obviously you’ll want to find the best deal with the most credible provider of luxury rentals.

Still curious what is a luxury rental? Ultimate Luxury Rentals is a starting point for you. With over 7 years in the luxury home rental business, they have continued to provide the highest quality of homes and services to customers worldwide. Visit them at Ultimateluxuryrentals.com and get a first hand look at homes in Tucson, AZ, Taos, NM, and Costa Rica!

 

Corporate Financial Reporting is part of corporate reporting that consists of financial statements and accompanying notes that are prepared in conformity with Generally Accepted Accounting Principles (GAAP). The financial statements are summaries of business transactions during the financial year of the corporation. The business world has many forms of organizations ranging from the for profit sole proprietorship, partnership and incorporated businesses with limited liability to the not for profit organizations whose existence is not mainly driven by financial gain.

Regulations that govern the preparation of financial statements largely apply only to the incorporated entities. This has given rise to accounting standards setting bodies and legal provisions that form the frameworks used when preparing the financial statements. The process of preparing the reports in accordance with the GAAPs and legal requirements presents advantages and disadvantages to the organizations and to other interested groups. The International Financial Reporting Standards are increasingly being adopted by many national accounting standards setting bodies leading the way to a single set of accounting standards all over the world. It is therefore worthwhile to look at the advantages and disadvantages of financial reporting to create an awareness of the complexities that corporations and accounting professionals contend with.

THE ADVANTAGES

A number of advantages of corporate financial reporting can be enumerated and perhaps among the most important is that organizations are able to compare their individual performance with others in the same industry or line of business. This is because the established principles, standards and regulations ensure that there is a benchmark to be followed in the preparation of financial reports. Recognition of income, expense, assets and liabilities is standardized by the existing framework and any deviation can be countered with disciplinary or legal action. Organizations strive to prepare their financial statements to closely match the set frameworks as much as possible. In some countries for example Kenya, this has been translated into an annual competition (the fire award) where companies performance in this area is assessed by professional bodies including the national accounting professionals body with the aim of awarding the company with the best prepared financial statements. This in turn promotes staff and professional development which is a desirable aspect in the growth and wealth creation of the corporate organizations.

Investors and owners of companies in jurisdictions where corporate financial reporting follows strong established and clear frameworks can make the appropriate investment decisions. Corporate reporting in this case enhances the development of understanding of the activities of the companies and at the same time keeps the companies themselves on their toes as the wider society is well-informed of the expected reporting standards. This also acts as an incentive to managers to perform at their best and to institute control measures that aid the organization to comply with the frameworks.

Requirements of corporate financial reporting lead to timely preparation of financial reports. This is desirable to the stakeholders who may be more interested in the organizations immediate past rather than wait for a long time before the outcome of their input is known. When financial reports are prepared and published within the stipulated time, it is possible for necessary actions to be taken to correct any anomalies that may have led to undesirable outcomes. In a more serious case where a material error happens to be discovered, it can be corrected and the necessary measures taken to avoid a repeat of such occurrences.

IFRS give room for flexibility as they are based on principles rather than rules. As principles are based on value, corporations can adopt the standards that best suit their circumstances as long as fair value is adequately reported. This also encourages professional development as accounting standards setting requires qualified academics who can develop the required standards after lengthy and rigorous discussions and considerations to come to a consensus.

Overall, corporate financial reporting acts as a control measure as management, owners, employees, customers, creditors and the government are dependent on the reports in their decision-making. For instance the government in taxation of companies relies at the outset on the financial reports prepared and examined by qualified public or certified professionals. Trends on the growth of the companies can also be quickly determined by comparing sets of reports for different periods.

THE DISADVANTAGES

Corporate financial reporting does not bring desirable results only. There are some undesirable outcomes that should be mitigated against. The consideration of cost guides many companies in their operation. In preparing corporate financial reports in accordance with laid down standards and rules, expertise is required and the company has to engage highly qualified professionals for this task. The fee payments to qualified professionals can be prohibiting especially to small companies controlled closely by their owner managers. Compared to larger companies the small entities do not have adequate resources to implement adoption of the standards or even to train or employ qualified staff. In many instances such small and medium enterprises (SMEs) are tempted to forgo compliance with certain aspects of the standards or rules leading to problems with regulatory bodies including the government.

Freedom to adopt standards that suit the particular circumstances of the company leads to manipulation of reports. Disclosure of important information is in jeopardy as there is no legal enforcement for implementing the standards. Even where the government imposes legal obligations on what financial reports are to be prepared, there are still loopholes that can arise especially when the accounting standards and the legal stipulations are not in conformity in some areas.

For multinational companies, there are challenges in preparing their consolidated financial reports especially where operations are in countries with different accounting standards and legal regimes. There are also other challenges in dealing with for instance exchange rates, interest rates and transfer pricing where treatment of such aspects may be considered differently in different countries. Taxation and existence or non-existence of dual taxation treaties also poses another challenge.

CONCLUSION

It can be concluded that corporate financial reporting is essential and the gains from following accounting standards based on principles far outweigh the disadvantages as freedom to prepare reports in whatever way organizations deem appropriate may lead to financial chaos.