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Harmonization of International Accounting Standards
Harmonization of International Accounting Standards
international
accounting
standards
We now have a global economy and it has affected
the entire business world. For instance, today's
global corporation may have more than one
headquarters, and its production and
distribution facilities are probably scattered
throughout the world. Commodity prices,
interest rates and currency exchange values
have become internationally linked -- with the
result that governments around the world are
increasingly supporting harmonization of
accounting practices and national policies
A international accounting standards are a necessary part
of the rapidly globalization economy. harmonization of
accounting policy would help provide a "level playing
field" Regulators and auditors will be receiving the
same information, facilitating the evaluation process. In
the absence of free trade, international accounting
standards will allow nations' tariffs, quotas and other
trade restraint mechanisms to be more accurate and
less risky for those engaged in trade. Investors and
managers will be able to make more valuable decisions.
World resources will be better managed and allocated.
It is possible, due to their necessity, to have
international accounting standards (IAS) harmonization
.
The "harmonization" of accounting
standards will help the world economy
:in the following ways
Most of the countries which trade with USA prepare their accounts*
according to US GAAP this in turn makes US GAAP accepted
not only in USA but in other countries
الهيئات المهنية المحلية المسؤلة عن اصدار
المعاير المعمول بها في الردن: