What are advantages and disadvantages of having a uniform accounting standard globally?

Answer:
One of the advantages of having a uniform accounting standard is knowing that you are comparing apples to apples if you were comparing two companies results.

For example, if you were comparing a US company that used US GAAP and a company in India which used different accounting standards, you could not be sure that any comparisons would be based on the same methodology.

With a uniform accounting standard, all companies would be required to value/measure and report their results the same way, therefore you could do a better comparison between the two companies.
First answer by ID0408535183. Last edit by ID0408535183. Question popularity: 9 [recommend question].