Global Accounting Standards And Curriculum

Abstract

Offshoring of technology jobs and its adverse economic effects on the U.S. economy are making daily headlines. Globalization of economy and advances in information technology have accelerated offshoring to low labor cost countries like China and India. The latter have the advantage of abundant educated manpower, low labor cost and high entrepreneurial spirit. However, just as globalization is taking lower-value jobs overseas, it is also creating markets for higher-value U.S. services and goods in those countries. Development of global accounting standards could further accelerate offshoring of jobs in financial services. It is time that business schools prepare their graduates to face the challenge through appropriate curriculum changes.