Accounting for Globalization

The ‘age of globalization’ is a ubiquitous topic in academic and popular presses, yet the phrase is often used without substance. We argue that if globalization is to be useful as a theoretical construct, then detailed research is required into the concrete and specific mechanisms that constitute globalization. Within accounting literature, prior research on globalization has focussed on the role of financial market liberalization and the harmonization of accounting standards in encouraging the spread of common practices. However, less research energy has been directed to understanding the role of other accounting/financial mechanisms and other agents/institutions. We examine how accounting functions in the context of a number of supranational organizations such as the OECD and the IMF, and look at the international flows of capital, products, information, practices, and people that these organizations serve to regulate.