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    China converging with IFRS: Benefits and disadvantages

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    Why might it be beneficial to narrow worldwide differences in accounting practices? Are there any disadvantages associated with convergence?

    © BrainMass Inc. brainmass.com October 10, 2019, 7:17 am ad1c9bdddf
    https://brainmass.com/business/business-philosophy-and-ethics/pros-cons-china-converging-with-ifrs-575361

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    Why might it be beneficial to narrow worldwide differences in accounting practices? Are there any disadvantages associated with convergence?

    Differences in accounting practices are costly to the preparer and confusing to the users. If a firm operates in more than one area and these areas require certain ...

    Solution Summary

    This solution is 174 words and gives two advantages and one disadvantage of China converging to close to IFRS.

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