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Explain the benefits for adopting international accounting standards for investors and for international businesses?

Explain the benefits for adopting international accounting standards for investors and for international businesses?

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Answer #1

Benefits for adopting international accounting standards for investors and for international businesses

  • It helps in achieving globalized orientation through which companies don't need to prepare alternative sets of financial statements when pursuing business interests in other countries
  • It enhances financial reporting by removing all possibilities in undermining the objectives of the set standards
  • It helps in making comparisons of companies across borders better
  • international accounting standards helps aligning and streamlining of processes in international businesses
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