International Issues in Management Accounting for Paradoxes

Question: Write about theInternational Issues in Management Accounting for Paradoxes. Answer: The perceived differences and advantages of Australian dairy product in China and how this should be reflected in manufacturing of the export product. When it comes to the Australian dairy products, it is famous in China due to its high standard and safety. When it comes to the health and benefit of the toddler, the product that has the highest safety and benefits is chosen that makes the Australian dairy products to rank among the highest. Further, it needs to be noted that the reach and availability of the Australian products are more thereby providing the customer's ample benefits in terms of choice and availability. The difference that can be observed in the Australian dairy product as compared to the China dairy product rests on the quality along with a huge choice. The choice of dairy products of Australia is more as compared to the China products and hence a noticeable difference can be found. It is not only beneficial in term of competition rather provides a strong advantage to the families. With the huge advantage and demand, the supply and manufacture of the dairy products of Australia are on the increase (Gao Knight, 20 10). This has led to a strong supply chain. Further manufacturing of the dairy product and export deems to be a profitable venture for the company. any differences that Deirdre can expect to encounter between Chinese and Western approaches to management accounting; and There is some difference when it comes to the approaches of management accounting between the Chinese and Western countries. When it comes to the Western countries, the amendments and revisions to the policies of accounting do not carry a legally binding power and the formulation is done as per the national legal framework that is given in the cases by Companies Act. Companies Ordinances along with other rules can be applied to industries on an individual basis like the Banking Ordinance for a financial institution and other listed companies. It provides a framework on which the professional bodies of the accounting and other standards rest. When it comes to China, new and improved thoughts to management accounting have always been observed (Balfoort, 2017). The majority of the firms uses joint product costing, as well as budgeting. The adoption rate of the Chinese firms in terms of standard costing is high. The normative and the standard costing have a similarity when it comes to th e matter of adoption. Deirdre wishes to understand how the concepts of guanxi and power distance will impact on her interactions with the current ChinaSouth DairyCo managers who will now become part of the team she supervises. Guanxi will help in gaining an upper hand in the conversation and influence the relationship thereby facilitating business dealings. Hence, the interaction will be aided by the social network and can help in arriving at a proper dealing (Woodbine Scully, 2014). On the other hand, power distance is the perception of the individuals of the management and going by the overall case it can be commented that Deirdre Lynch is carrying high prospect and that the interactions with the manager of China Dairy company will be in good stead and ensure a success. The prospect is beneficial for the population of China and this perception is already indicated to the manager. Australian dairy product can exploit the market and have a major market share owing to its popularity and the choices it provides (Hwang et. al, 2008). Since the customers have a strong reliance on the dairy products, therefore, the export will be beneficial. Hence, the interaction will hold to be good considering the viewpoint s. References Balfoort,F. (2017). Content and Context- 'fair' values in China. Retrieved fromhttps://interact2.csu.edu.au/bbcswebdav/pid-2070874-dt-content-rid-3019771_1/xid- 3019771_1 Gao, B., and Knight, J. (2010). Paradoxes and guanxi dilemmas in emerging ChineseWestern intercultural relationships. Retrieved from https://interact2.csu.edu.au/bbcswebdav/pid-2070873-dt-content-rid-3019770_1/xid-3019770_1 Hwang, D., Staley, Y., and Lan, Y. (2008). Confucian culture and whistle blowing by professional accountants. Retrieved from https://interact2.csu.edu.au/bbcswebdav/pid-2070878-dt-content-rid-3019775_1/xid-3019775_1 Woodbine, F., and Scully, G. (2014). Guanxi - a two-edged sword. Retrieved from https://interact2.csu.edu.au/bbcswebdav/pid-2070877-dt-content-rid-3019774_1/xid-3019774_1