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The globalization is known as the basic phenomenon of the changing and the transformation recording through the world by interconnecting the technologies or business together. The process helps to connect the business, people, countries, governments and businesses around the world. The practice helps to nourish the international trade and investments made for information technology.

The globalization has not only affected the business but also its different practices related to it. Though accounting does not include in business but it still has significant impact on the accounting practices. The small to medium size practices has a significant role in turning the shifts of the global accounting for the small to medium size enterprises. Multiple challenges are being associated with the international expansion in this globalization. The digital era is especially more significant and essential to bring a number of opportunities for providing services in different aspects. When globalization is in full-swing, it is essential to meet the needs of managerial expertise, human capital and financial resource. Many SMPs creates different accounting practices in nations. For instance let start with under-developed, developing and developed nation including US, Africa and India

Outsourcing The country-specific work:

The accounting of globalization requires to bring same conditions for accounting to different nations. It enables them to outsource the country enabled work considering different factors. These countries depend and order one another for manufacturing processes of their goods to maintain profiting economies. Considering US relays on underdeveloped country like Africa to outsource it products and make them double profit after selling it. They do it so because of costs benefits, growing tech –hub, hassle free project completion and strong investment policies. On the other hand these developing countries provide raw material and product to both under-developed and developed countries to boost their economies. The under-developed countries have their expertise workforce, Great geographical location, costs benefits and enough resources to produce goods.

• Helping international businesses or individuals to invest in their other countries:

The accounting of globalization promotes the business to work collectively and on same ground. It helps to nourish the business and commercial environment within the countries. Accounting practices help the business to capitalise in other states to strengthen their economies by setting up outlets of their brands and MNCs offshore. Considering UK has its brands production for underdeveloped and developed nation like India and Africa including Fabric etc. Also it has its outlet like Topshop and Zara in India. On the other hand you may found famous Indian brands assembling in UK like Tata etc.

• Assisting current clients with their expansion into their own :

The accounting of globalization helps in expanding not only internationally but also supports the idea of expanding internally in the hometown. It helps to set up new businesses or expand the existing businesses to great extents and profitability. The corporates, brands or companies that tends to strengthen its own economy within the country would definitely turn upto profits on international ground as well. Considering UK bank HSBC for instance is strong economy oriented bank in UK having multiple branches. After strengthening the stakes from within it expanded its operations internationally like In India, Pakistan etc. Other than that considering Union bank of India hold strong economics stakes in India and also in UK.

Accounting is in dynamic state all around the world. It has been setting uniform values of accounting throughout the world to improve better trade, commercial and business. Therefore, student are assigned with multiple task to write research work on these subjects to broaden up their research skills. Therefore, they may take professional Law Essay Help to get flawless writing and formatted research works.