Question: 1. How does the role of government differ in the United Kingdom the United Slates relative to financial reporting.
2. Why do the six criteria or guidelines for determining the functional currency in SFAS No. 52 provide a good example of finite uniformity?
3. What are the main distinctions between the Anglo-American and the continental models relative to accounting and financial reporting? Within the Anglo-American group, how does the United States differ from other members of the group? What developments are leading to erosion of differences between at least some members of the Anglo-American and continental groups?