Harmonization in accounting standard

Report on the effect of harmonization in accountancy meterized in the planetary scene

Nowadays, supranational capital securities industry has promoted a lot in the efficiency and productivity of either national investment. An increased in cross b install funding will affect the relationship and financing problem of nonpareil country to another. In order to achieve both these objective, a harmonization of formulating the news report regulation must be promoted by adopting International accounting standard (IAS). However, certain obstacle or benefits may be earns from variety of organization including multinational social club, international investor and stakeholder, government and national standard setting bodies and regional frugal groups such as ECOWAS.

The International Investor (TII) is a Kuwaiti shareholding alliance that provided distributors of pecuniary services with expertise and knowledge to access to international stock and bond market. Hence, the harmonization of national accounting standard has ability to make a useful and meaningful par of investment portfolio in different countries.



The converging of national accounting standard of General Accepted Accounting Principles (GAAP) in every country to International Financial Reporting Standards (IFRS) will be established and maintained by the International Accounting Standards Board. This is a practice of global harmonization to increase the consolidation of financial statements in multinational caller-out such as Intel and Dell. In another word, better management control in the inner communication of financial information. Most importantly, it will made the company save a lot of time and costing in appraisal of foreign enterprise, auditing, reporting, managing and also migration or transfer of just staff across the national border. Thus, the harmonization of accounting standard will show out the transparency of a company to gain trust from shareholder and gain reliable from investor.

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