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What are the pros and cons of the different accounting terms between countries?

What are the pros and cons of the different accounting terms between countries?

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Answer #1

Cons

1. It becomes difficult for the global investor to read the financial statement.

2. Lot of confusion with terms used in financial statement. Like cash and cash equivalent used by US company and cash and liquid deposit term used by new zealand company.

Pros

1. It would become easier for the local experts to get the information from the financial experts.

2. They need not to go to global authority for clarification beacuse they are using accounting terms which they have created.

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