Question

Explain how providers of financing is a factor that creates the smallest impediment to international convergence of accounting.

Answer 1

-->> The factor which I believe creates the smallest impediment to convergence of accounting would be language of the host country. This is because accounting standards around the world aim to achieve several key goals using numbers. Differences in language has in the past not had an impact on the achievement of these goals, in fact in countries where the standards are harmonized as in the European Union unified goals are achieved using procedures and protocols despite differences in language.