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What are advantages and disadvantages of having a uniform accounting standard globally?
Wiki User
∙ 12y ago
One of the advantages of having a uniform accounting standard is knowing that you are comparing apples to apples if you were comparing two companies results.
For example, if you were comparing a US company that used US GAAP and a company in India which used different accounting standards, you could not be sure that any comparisons would be based on the same methodology.
With a uniform accounting standard, all companies would be required to value/measure and report their results the same way, therefore you could do a better comparison between the two companies.
Wiki User
∙ 12y ago
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