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(b) Accounting regulation may lead to uniform accounting practices among entities and enhance comparability of financial...

(b) Accounting regulation may lead to uniform accounting practices among entities and enhance comparability of financial reporting.

Do you agree with this statement? Justify your answer in your own words.

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Answer #1

I agree with statement that Accounting regulations lead to uniform Accounting practices among entities & enhance comparability of financial reporting because it enhances transparency of financial reporting in all countries & enables investors & other stakeholders to make more informed decision regarding entities across the world. It enhances accountability of management by reducing information gap between providers of capital & the people to whom they have entrusted their money. It improves efficiency of capital allocation as investors are able to allocate their capital efficiently across the world by identifying risk & opportunities.

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