As a result of increased globalisation:
A)there has been less harmonisation of accounting rules across countries.
B)accounting rules have a more international reach.
C)users of accounting information are more likely to be based in the same county as the business has its base.
D)accountants need less familiarity with accounting rules of other countries.

Question

Quizplus · Accepted Answer

Increased globalisation has led to the need for accounting rules to have a more international reach, as companies operate in multiple countries and users of accounting information come from diverse backgrounds. This has resulted in the development of international accounting standards and the increased adoption of common accounting practices across countries. Harmonisation of accounting rules across countries has been a goal, but it has been difficult to achieve due to varying legal, cultural, and economic environments. Accounting professionals now need greater familiarity with accounting rules of other countries to effectively operate in the global marketplace.

As a Result of Increased Globalisation