convergence of International Financial

ARTICLE

Contextual issues of the convergence of International Financial Re ortin The case of Germany Andreas Hellmann *, Hector Perera, Chris Patel Department of Accounting and Finance. Faculty of Business and 17C0I1OnTleS. MaCqUZirle Univendfy Sydney, N.114/ 2109, Aultrafici
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Objectives of the IASB k;iq- iz
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  1. to develop, in the public interest, a single set of high quality, understandable and enforceable global accounting standards that require high quality, transparent and comparable information in financial statements and other financial reporting to help participants in the world’s capital markets and other users make economic decisions; 2. to promote the use and rigorous application of those stan

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CEO Williams’ case study

CEO Williams’ case study begins in 2001, when he arrived to find a corporation (Aetna) in need of change ‐ having lost $280 million in the past year. He diagnosed key areas of failure and opportunity in Aetna’s vast enterprise. Williams shaped a path to recovery focusing on a better understanding of Aetna’s current customers, from small employers to the largest corporations, and concentrating on the best way of expanding into new markets such as retailers, banks and law firms. To do this, Aetna needed to build products and services suited for those groups, and Williams’ strategy involved developing integrated information systems for both employers and consumers, to ensure cost‐effective and high quality health care delivery. Through effective communication channels, Williams repeatedly made the case for this new strategy directly with Aetna’s staff. He pressed the issue of values: integrity, employee engagement, excellent service and high

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