UK’s ASB AND GAAP
14 December 2008
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What measures are being taken by UK’s ASB to bring UK GAAP into line with international standards?
What are the advantages of a closer international harmonization of accounting olicies for multi national companies and investors?
well Esther the UK leads the path i.e. the UK tax authorities are the only ones in Europe which accept IFRS reporting to the extent that its website http://www.hmrc.gov.uk/ does have a section allocated to differences between IFRS and UK GAAP
I wish in Germany they had the same thing!!!!!
suggested answer
investors increasingly make investment decisions on a worldwide basis,because businesses increasingly operate acrross national boundaries.Therefore investors need to compare the financial statements of companies operating in different countries.
kenneth
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