♦ Users of international financial information need that information to be comparable across entities in order to make the best informed decisions.

♦ Foreign companies that are listed on U.S. stock exchanges may use U.S. GAAP, International Accounting Standards (IAS), or their own national GAAP. However, if U.S. GAAP is not employed, foreign companies must provide a reconciliation to U.S. GAAP.

♦ Harmonization may be accomplished through several approaches, including bilateral agreements between nations and an international standard-setting process on a worldwide basis.

♦ Both the IASC and the IFAC are dedicated to the harmonization of accounting standards.

Was this article helpful?

0 0
Stocks and Shares Retirement Rescue

Stocks and Shares Retirement Rescue

Get All The Support And Guidance You Need To Be A Success At Investing In Stocks And Shares. This Book Is One Of The Most Valuable Resources In The World When It Comes To

Get My Free Ebook

Post a comment