Discuss the international benefits of harmonization of the IFRS and the United States generally accepted accounting principles. Why...

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Accounting

Discuss the international benefits of harmonization of the IFRSand the United States generally accepted accountingprinciples.
Why is the analyst report important to an investor?
What has been the impact of the key provisions in the SarbanesOxley Act on the way financial reports are currently done?
Discuss the difference between rules based and principle basedapproach towards standard settings. Which method would yourecommend and why?

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The standards that govern financial reporting and accounting vary from country to country In the United States financial reporting practices are set forth by the Financial Accounting Standards Board FASB and organized within the framework of the generally accepted accounting principles GAAP Generally accepted accounting principles refer to a common set of accepted accounting principles standards and procedures that companies and their accountants must follow when they compile their financial statements International Financial Reporting Standards IFRS are a set of international accounting standards which state how particular types of transactions and other events should be reported in financial statements IFRS are issued by the International Accounting Standards Board IASB and they specify exactly how accountants must maintain and report their accounts IFRS was established in order to See Answer

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