The Development of Uniform International Accounting -- An Enquiry into the Problems, Progress and Prospects.
NAVAL POSTGRADUATE SCHOOL MONTEREY CALIF
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The last three decades have witnessed a rapidly growing internationalization of business activities. Because the accounting standards and practices of different countries have developed in response to diverse environments, accounting has developed with strong national accents. Consequently, an enterprise with investments in many countries has difficulty in achieving a consolidated financial report from a multiplicity of accounting practices. Further, the investors in these enterprises find it difficult to understand and evaluate the financial statements developed from a wide range of accounting standards. The accounting profession has addressed itself to these problems at recent international congresses of accountants. It established the International Coordination Committee for the Accounting Profession and the International Accounting Standards Committee with the specific objective of developing uniform international accounting standards. This study has evolved from a scrutiny of the growing wealth of literature that concerns itself with the problems of international accounting. This study leads to a conclusion supporting the development of uniform international accounting. Author
- Administration and Management
- Economics and Cost Analysis