The major disadvantage in the short run will be the cost to businesses of adopting the new standards. For some years into the future, accountants will have to understand both their own country's...
Economic environment.Political environment.Legal system.Global standards.== Cultural environment across the countries: Economy plays a big part in the different accounting practices, when an economy...
The impetus for stricter financial reporting was provided by the collapse of the securities market in 1929 and the revelation of massive fraud in a company listed on the New York Stock Exchange...