2. Explain the benefits of a single set of high-quality global accounting standards.
Recognize the impediments to achieving a single set of global accounting standards.
Clearly communicate your thoughts and ideas in a clear and concise manner.
write persuasively in a document that is free of spelling and grammatical errors.
After completing the assigned readings, prepare a 2-3 page, double-spaced paper to explain (1) the benefits and beneficiaries of a single set of high-quality global accounting standards; (2) the obstacles to achieving this goal; and (3) your view as to whether such a goal will ever be achieved. Support your opinion with a rational argument.
Accounting provides investors, corporate managers financial institutions, corporate managers, and officials of the government with information about the current financial condition. Standards for accounting are an established set of guidelines and guidelines that determine the structure of the organization and the data which should be contained on financial accounts. The company’s management as well as its investors can examine the financial health of the business thanks to the regular information provided. One of the main benefits of having a uniform set of accounting standards across the globe is that it allows to evaluate businesses across different countries. The standards for one nation’s accounting may differ than those of another country’s accounting (Baskerville and Grossi, 2019,). Cont…
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