ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

The Growth of International Accounting

Updated on April 19, 2018

Quin Foster

The Growth of International Accounting

The world as we know it is rapidly growing in population as well as economic standing. There are many countries who have seen a tremendous boom in their economies over the last few decades. Countries like China and India have seen a very impressive amount of growth and are becoming some of the more sought-after countries to engage with in business activities. These are two of the main countries that pop into people’s minds when thinking about countries on the rise. These of course are not the only one’s experiencing this growth but are accompanied by many others. Other countries in southeast Asia, the middle east, and eastern Europe are also seeing economic growth and of course the growth in need for accounting. Accounting being one of the driving factors in the business world is seeing tremendous growth all around the world due to the growing economies of these countries. With all this growth these countries are seeing, they turn more towards accounting as a reliable instrument to help manage funds and make sure their economies continue to grow. The business world while already very important is seeing a tremendous rise in positive perception by some of these developing countries, which will hopefully lead to others following suit and expanding their horizons as well.

Southeast Asia is a region that is seeing one of the more extreme gains in economic power. With countries like China and India becoming two of the more powerful countries in the world in terms of economy, it is hard to deny that this region is improving as a whole. Other countries in southeast Asia are also seeing growth in economy through the increased use of accounting and the adoption of accounting principles. Countries such as Singapore, Malaysia, and Vietnam are some of the few that are becoming more prevalent in the accounting world. Singapore for example, while having a few economical hardships over the last decade is now experiencing growth again as a nation with the adoption of accounting principles that are similar to IFRS which is a strong guideline for so many others. Vietnam is another rapidly growing economy which has been greatly benefitted by their use of accounting principles and is only looking to continue growing in the business world.

Middle eastern countries have been on the rise for quite a while now as well, but the United Arab Emirates should be the first one people think of when it comes to economic growth. The United Arab Emirates has become a cultural hub for business as well as a very popular destination for tourism. This of course has helped them bolster their economic standing to be considered amongst one of the best economies in the middle east. Dubai is a powerhouse of a city when it comes to globalization in business. Many large businesses make Dubai their home or at least seem to be involved with the growing city as of recently. The business boom in Dubai and all around the middle east is a great opportunity for accounting to spread its reaches and become more prevalent around the area.

Globalization through accounting will only continue to spread through the mediums of countries becoming more business oriented and increasing use of certain global accounting standards and practices. Many big accounting firms have expressed interests in working globally to help expand on the business environment they are currently in. Accounting is a very necessary tool for business and will aid in organizing and helping businesses and global economies grow. Helping businesses budget their money as well as devise plans to create more wealth for themselves is the key to financial and economic growth within the organization whether that be a small business or an entire country. Accounting is an integral part in any business and hopefully it becomes more widespread than it already is. Growing economies developing accounting standards and practices will be very beneficial due to the increased transparency of business, improved reporting, and recording. These factors will help not only grow the economy but hopefully keep it stabilized as well.

Accounting procedures have been around for a long time and will stay around for a long time. The basic idea of accounting will most likely remain the same and will be an extremely beneficial tool in improving businesses all over the world. Whether those businesses are located in the United States, China, or even an up and coming economy like the United Arab Emirates, accounting will be here to stay. Accounting will mold the world into a place where anyone can achieve the goals they set by giving them the necessary tools they need to get there. Thanks to the growth of accounting we will no doubt see great improvements globally.

Works Cited

Top 10 countries for accounting careers.

These are the world’s fastest-growing economies in 2017, Alex Gray.

Global Accounting Is Coming, Richard Barker.


    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)