HAdams_AccountingChallenges_010911

HAdams_AccountingChallenges_010911 - Accounting Challenges...

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Accounting Challenges 1 RUNNING HEAD: ACCOUNTING CHALLENGES IN THE GLOBAL MARKETPLACE Accounting Challenges in the Global Marketplace Helen Adams Rasmussen College International Accounting – ACG4250 Jaclyn Strauss, CPA January 9, 2011
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Accounting Challenges 2 Accounting Challenges in the Global Marketplace The internationalization of business activities has increased exponentially over the past 3 decades. Because the accounting standards and practices of different countries have developed in response to diverse environments, accounting has developed with strong national emphasis. As a result, multinationals with branches and investments in a wide array of countries find it difficult to achieve a consolidated financial report. The benefits of a set of uniform accounting standards include greater comparability of financial information for investors, greater willingness on the part of investors to invest across borders, lower cost of capital, more efficient allocation of resources, and higher economic growth . In 2001, the IASB was created, replacing the International Accounting Standards
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This note was uploaded on 04/30/2011 for the course ECON 101 taught by Professor Smith during the Spring '11 term at University of Phoenix.

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HAdams_AccountingChallenges_010911 - Accounting Challenges...

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