Prepare a brief response in which you outline some examples of accounting report criteria (regulatory environment, issues with foreign currency, differences in GAAP, etc.) used by a U.S. company with a foreign company. Try to compare and contrast these criterion.
The accounting reporting criteria for various companies will vary based on the regulatory environment in which the company operates. The regulatory environment around a company incorporated in the US will be very different from a company incorporated in India. Some of the key comparisons between accounting reporting criteria’s are:
- GAAP: The accounting reporting criteria is always guided by GAAP. Companies in United States follow US GAAP whereas companies in India will follow Indian GAAP.
- Regulatory Environment: Regulators ...
In about 320 words, this solution discusses the relationship between the accounting criteria of a business and the geography of a business. To compare and contrast these criterion, this response uses the U.S.A and India as example countries.