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What are the major problems caused by worldwide accounting diversity for a multinational corporation?

What are the major problems caused by worldwide accounting diversity for a multinational corporation? Think of practical problems like costs of compliance and mastering the subtleties of accounting in new countries, the potential mixed messages that might be sent to investors by financial statements prepared on different bases of accounting, and how about managing the company? Do you need to develop your own internal GAAP to manage the company? Let's get creative and brainstorm. There's no right answer here, just the opportunity to begin exploring the fascinating topic of International Accounting.
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Every country has its own accounting standards and companies that operate only in their country
adhere to those accepted accounting principles. Companies who have branches in different countries...

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