Question 1 With the onset of globalization why is the harmonization of accounting standards necessary and important.

Question 7 Traditionally, job order costing and process costing were used to cost products and services; however, during the 1990s activity-based costing was introduced as alternative costing systems. Differentiate between the traditional costing systems and activity-based costing. Your answer should indicate when it is appropriate to use each, and the benefits and limitations of each type.

ques 2 Critically discuss whether the harmonization of accounting standards will enhance the comparability of financial information across countries.

ques 3 Modern performance measurement systems incorporate both financial and non-financial measures in their evaluation of an organization. Discuss the merits and demerits of the implementation of such performance measurement systems in todays competitive environment.

ques 4 Critically assess the extent to which Caribbean jurisprudence and the strength of the legal institutions charged with law enforcement can enhance corporate governance and protect the Caribbean investor.

ques 5 Management accounting and control systems are used to motivate, monitor, measure, and sanction, the actions of managers and employees in organizations. Discuss the essential components of an effective accounting control system.

ques 6 You have just been appointed General Manager of a small hotel which is experiencing financial difficulties. Your initial assessment of the hotel is that it offers an excellent customer service, the market potential is great, however, the main problem facing the entity is the lack of any costing systems. Evaluate the need for implementing a costing system, clearly highlighting the types of costing systems that are appropriate to this type of industry.