Common accounting standards should be adopted by all countries to help countries with international business. As it is, most countries find international business almost impossible as there are so many hurdles and policies they need to adhere to and they may or may not follow those same policies. Confusion with how reports are translated or questioned can slow international business down for countries and they can suffer finacially while trying to promote growth and success for themselves. A common standard of practice would help enable financial success for countires and stop confusion or questioned reports for international business.
What are your thoughts on this? explain