AC 300 help A Guide to career/Snaptutorial AC 300 help A Guide to career/Snaptutorial | Page 3

important. In addition, if an investor wants additional information, the
investor could contact the company and pay to receive the additional
information desired.
Instructions
Comment on the appropriateness of this viewpoint.
IFRS1-5 The following comments were made at an Annual
Conference of the Financial Executives Institute (FEI).
There is an irreversible movement towards the harmonization
of financial reporting throughout the world. The international capital
markets require an end to:
The confusion caused by international companies announcing
different results depending on the set of accounting standards applied.
Companies in some countries obtaining unfair commercial advantages
from the use of particular national accounting standards.
The complications in negotiating commercial arrangements for
international joint ventures caused by different accounting
requirements.
The inefficiency of international companies having to understand and
use a myriad of different accounting standards depending on the
countries in which they operate and the countries in which they raise
capital and debt. Executive talent is wasted on keeping up to date with
numerous sets of accounting standards and the never-ending changes
to them.
The inefficiency of investment managers, bankers, and financial
analysts as they seek to compare financial reporting drawn up in
accordance with different sets of accounting standards.
Instructions
What is the International Accounting Standards Board?
What stakeholders might benefit from the use of International
Accounting Standards?
What do you believe are some of the major obstacles to convergence?
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AC 300 Unit 3 Assignment Case CA 2-3