Unformatted text preview: not one of the six common factors that influence a country’s financial reporting practices? A. Legal system. B. Population. C. Inflation. D. Providers of financing. E. Taxation. 5. The process of reducing differences in financial reporting practices across countries is referred to as: A. Cooperation B. Reconciliation C. Joint Compromise D. Joint Adoption E. Harmonization Brief Essay Questions 1. Describe the three major types of differences that generally exist between U.S. GAAP and IFRS. Give an example of each type of difference. 2. What are the six primary reasons that accounting rules differ from country to country?...
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- Spring '11
- Accounting, International Financial Reporting Standards, international Accounting standards, International Accounting Standards Committee, A. Adopt IFRS, United Nations Accounting Standards Committee