Describe International Accounting and provide exampleSolutio

Describe International Accounting and provide example

Solution

International accounting extends general purpose nationally oriented accounting to international comparative analysis, accounting measurement and reporting issues unique to multinational business transactions and the business form of the multinational enterprise, accounting needs of international financial markets and harmonization of worldwide accounting and financial reporting diversity via political, organizational, professional and standard setting activities.

Example : - International accounting standards board ( IASB) , GAAP , IFRS