Doupnik - International Accounting 4e - CH2

Doupnik - International Accounting 4e - CH2 - 2.6...

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2.1 most liquid (US), least liquid (Europe) 2.3 single regime reporting system (more likely to try and minimize taxes through financial reporting), us has tax code and gaap (maximize profit) 2.4 family, banks, government, shareholders, positive relationship between equity financing and disclosure 2.5 different formats, different terminology, level of detail, different recognition and measurement rules, disclosure, higher cost of consolidation, access to capital cost increases, comparability more difficult
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Unformatted text preview: 2.6 Comparability 2.7 more secrecy (control inFormaTon, avoid con²ict) and conservaTsm is linked to uncertainty-avoidance, single regime conservaTsm means lower profts and lower taxes, 2.8 LaTn America more conservaTve and higher uncertainty avoidance, also more secreTve 2.12 Who benefts the most (distribuTon) Ex2.7a. comparability, b. companies (they’re the ones responsible For meeTng various standards), Foreign investors and governments, c....
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