(a) State any five issues dealt with in the regulatoryframework of accounting.(b) Outline any...(a)...

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Accounting

(a) State any five issues dealt with in the regulatoryframework of accounting.

(b) Outline any four benefits multinational companies may derivefrom global harmonization of accounting standards.

(c) In preparing financial statements, accountants follow certainfundamental assumptions and policies. List and explain two of these policies andassumptions under the following:
(i) boundary rules
(ii) measurement rules
(iii) ethical rules

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a State any five issues dealt with in the regulatory framework of accounting 1 It follows the principlebased approach rather than a rulebased approach Countries following rulebased approach find it hard to adapt to the principlebased approach 2 Different legal systems in countries prevented the development 3 Countries had different purpose of See Answer

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In: Accounting(a) State any five issues dealt with in the regulatoryframework of accounting.(b) Outline any...(a) State any five issues dealt with in the regulatoryframework of accounting.(b) Outline any four benefits multinational companies may derivefrom global harmonization of accounting standards.(c) In preparing financial statements, accountants follow certainfundamental assumptions and policies. List and explain two of these policies andassumptions under the following:(i) boundary rules(ii) measurement rules(iii) ethical rules