Question

Which of these is a disadvantage of a country adopting international accounting standards compared to the country developing its own standards?

Accepted Answer

A)  Standards by their nature must be general and involve compromises. 
B)  It will increase accounting and reporting costs for multinational companies. 
C)  It will reduce the comparability of different countries' financial reports. 
D)  All are disadvantages. 
A)  Standards by their nature must be general and involve compromises. 
B)  It will increase accounting and reporting costs for multinational companies. 
C)  It will reduce the comparability of different countries' financial reports. 
D)  All are disadvantages.

Which of these is a disadvantage of a country adopting international accounting standards compared to the country developing its own standards?

Introduction to Accounting

Measuring and Reporting Financial Position

Measuring and Reporting Financial Performance

Regulatory Framework for Companies

Measuring and Reporting Cash Flows

Corporate Social Responsibility and Sustainability Accounting

Analysis and Interpretation of Financial Statements

Costvolumeprofit Analysis and Relevant Costing

Full Costing

Budgeting

Capital Investment Decisions

The Management of Working Capital

Financing the Business

Filters

Exam 4: Introduction to Limited Companies

Which of these is a disadvantage of a country adopting international accounting standards compared to the country developing its own standards?

Introduction to Accounting

Measuring and Reporting Financial Position

Measuring and Reporting Financial Performance

Regulatory Framework for Companies

Measuring and Reporting Cash Flows

Corporate Social Responsibility and Sustainability Accounting

Analysis and Interpretation of Financial Statements

Costvolumeprofit Analysis and Relevant Costing

Full Costing

Budgeting

Capital Investment Decisions

The Management of Working Capital

Financing the Business

Filters