Explore BrainMass

Explore BrainMass

    Accounting - Major Problems for Standard Setters Internationally

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Select one accounting practice that has caused major problems for standard setters internationally (i.e. where practice varies considerably from country to country ).

    Explain the problem and how standards setters have attempted to harmonise practice. Describe and evaluate the current situation.

    Please see attached for Guidelines.

    © BrainMass Inc. brainmass.com December 24, 2021, 4:57 pm ad1c9bdddf


    Solution Preview

    For this problem, take this approach
    <br><br>1. Select any one of the practices that have been suggested by your tutor else you can select any accounting practice that is different from country to country. The example of accounting for goodwill is one of such practices.
    <br><br>2. Give a preface about why you have selected the practice and introduce the accounting area, for example in the area of goodwill you can give a brief introduction of the nature of goodwill and the different practices of goodwill accounting that are carried in different countries. As your ...