Subject -- BUS 5613 Global Accounting and Financial Analysis
Textbook -- International Accounting - Fourth Edition by Shahrokh M Saudagran and L. Murphy Smith
Chapter 1 - Financial Reporting in the Global Arena
I need help with the following answers for my assignment.
Question 7 -
Beginning in 2008, the Securities and Exchange Commission of the United Statesbegan to accept financial statements from Foreign Private Issuers prepared according to International Financial Reporting Standards without reconciliation to U.S.GAAP. What factors drove this change?What evidence exists of the effect of differences in disclosure requirements on the decision to list on foreign stock exchanges? Do you think, foreign companies should be allowed to enter your country's capital market on the basis of their home country financial statements? Explain.
Financial reporting has diverse roles in the economic and social landscape of different countries. This usually influences the orientation and information content of financial statements produced in those countries. Choose a macro-user oriented and micro-user oriented country, and obtain two corporate annual reports from each. Describe features of the annual reports that reflect the financial reporting perspective of that country.
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