Harmonization in accounting standard

Report on the effect of harmonisation in method of accounting meterized in the planetary scene Nowadays, supra subject field capital securities manufacture has promoted a cumulus in the efficiency and productivity of some(prenominal) national investment. An increased in cross b entrap funding will affect the relationship and financing task of nonpareil country to another. In order to achieve both these objective, a harmonization of formulating the news report regulation essential be promoted by adopting world(prenominal) accounting pattern (IAS). However, accredited obstacle or benefits may be earns from variety of formation including multinational social club, international investor and stakeholder, government and national standard setting bodies and regional frugal groups such as ECOWAS. The International Investor (TII) is a Kuwaiti shareholding alliance that provided distributors of pecuniary services with expertise and knowledge to access to inte rnational stock and bond market. Hence, the harmonization of national accounting standard has ability to make a useful and meaningful par of investment portfolio in contrary countries. The converging of national accounting standard of General legitimate Accounting Principles (GAAP) in every country to International pecuniary Reporting Standards (IFRS) will be established and maintained by the International Accounting Standards Board. This is a practice of global harmonization to increase the consolidation of financial statements in multinational company such as Intel and Dell. In another word, better management control in the inner communication of financial information. most importantly, it will made the company save a lot of time and costing in appraisal of foreign enterprise, auditing, reporting, managing and in like manner migration or transfer of just staff across the national border. Thus, the harmonization of accounting standard will show come forward the transparen cy of a company to gain trust from shareown! er and gain reliable from investor. In the European Union,...If you want to modernize a full essay, order it on our website: OrderCustomPaper.com

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