Research Proposal On Single Currency For Pakistan, India, Sri Lanka And Bangladesh And International Accounting
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Single currency for Pakistan, India, Sri Lanka and Bangladesh and international accounting
The core objective is to arrive single currency as well as international accounting standards and management that will be imperative to Pakistan, India, Sri Lanka and Bangladesh financial institutions mostly, the banking sector industries of these countries.
To be able to determine, recognize as well as evaluate possibilities of arriving and executing single currency for the three countries and it is ideally noted through comparative case study analysis along with preliminary literature catering to single currency processes and other factors pointing to effective adaptation of international accounting standards.
To be able to present as well as create a balanced perspectives of currency matters in lieu to international accounting allowing Pakistan, India, Sri Lanka and Bangladesh to embrace alternative options and desirable possibilities upon embracing single currency notions such as those adopted by EU nations.
Statement of the problem
The problem lies to the attainment of single currency to be applied for Pakistan, India, Sri Lanka and Bangladesh which can face several difficulties and problems as it is quite hard to implement utilize single currency if there are issues unresolved in each of the country such as for example, political and economic conflicts with each other. Thus, lack of strengthened policies when it comes to monetary matters of the country and the rising misalignment and mismanagement of international accounting standards
Significance of the research
The research will be most significant to monetary oriented analysts as well as economists, CEO and accounting and finance executives and managers as well as professionals working in financial institutions and banks not just in the countries mentioned but also in others. Significant to accounting auditors and accountants for such international accounting board and management as well as to those accounting, banking finance and management students both undergraduates and graduates who are having their MBA studies and PhD courses.
Case study methodology through case survey statement applications thus, comparative methodology applies comparing in perspectives of financial institutions operating and located in each of the country, a total of four financial institutions will be enough, one from Pakistan, one from India, one from Sri Lanka and one from Bangladesh. The subjects of the case survey will comprise of accounting management heads or executives, total of about 15 of them, 5 from each institution which refers to the National banks of each of the country for easy access of important information and collation of data thus, national banks since, they have ideal say to single currency options and international accounting domains and that respondents views do avoid biases and complications of statements. The comparative analysis will comprise of four statement tables from within response ratios will be adopted that ranges from point one to point five agreements/disagreements statements with basis to any impeding knowledge catering to single currency and international accounting assumptions. The below formation can be used and most likely sample statements apply for data analysis, findings and presentation of outcomes
1 Strongly Agree
5 Strongly Disagree
There are implicit transfers of money between countries (Pakistan, India, Sri Lanka and Bangladesh)
Single currency is acceptable in exchange in the home and foreign country
There is no need for monetary policy to be actively used
Common currency introduces the possibility of transfers of goods for money across countries
Risk-sharing possibilities of single currency arise from the ability of the country to run balance of payments deficits or surpluses, drawing on reserve holdings of region wide currency
Ching S and Devereux M (2003)
The study will be limited to literature organization dealing with currency matters and international accounting from informative grounds of financial institutions especially to several banking sectors in Pakistan, India, Sri Lanka and Bangladesh. Thus, limiting only to the research methods as discussed above in order to have simple research based and evidenced based reliability and validity constructs of research approaches and its paradigms.
The study will just cater to respondents coming from the National banks of the four focused countries and will only entertain to those financial institutions serving as an important factor for single currency options and international accounting presence of each National bank in Pakistan, India, Sri Lanka and Bangladesh. Reviews the feasibility and desirability of monetary union, pointing out the severity of fiscal problems of the countries, fragile credibility of monetary institutions and the communications and infrastructure challenges faced by the banks provide useful analysis of cases towards accounting standards integration and currency presence.
Ching S and Devereux M (2003) Mundell Revisited: a Simple Approach to the Costs and Benefits of a Single Currency Area. Review of International Economics, 11(4), 674–691, Blackwell Publishing