The ultimate goal of harmonization of accounting reporting
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The ultimate goal of harmonization of accounting reporting is to have all companies around the world follow one set of international accounting standards. Do you agree with this statement, why or why not? What are the advantages and disadvantages of accounting harmonization?
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http://smallbusiness.chron.com/disadvantages-harmonizing-accounting-standards-25107.html
http://webcache.googleusercontent.com/search?q=cache:8mIek3-eQbMJ:ccsenet.org/journal/index.php/ibr/article/viewFile/1149/1145+&cd=1&hl=en&ct=clnk&gl=us
This statement is fairly accurate as the objective for harmonization or integration is predicated upon the attempt to ensure that a level playing field would be created for businesses across the globe by the creation of an accounting system that combined both the standards used by the United States with those used by the majority of the globe for a uniform based system that allows regulators, auditors, and decision-makers to base their accounting on the same methodology. Currently, the U.S. operates under the Generally Accepted ...
Solution Summary
The ultimate goal of harmonization of accounting reporting are examined.