Why should financial analysts endorse the adoption of IFRS worldwide?
A)It would eliminate the time lag between the end of the year and the publication of financial statements that varies considerably across countries.
B)It would increase the comparability of financial statements across countries.
C)It would increase the demand for the services of international financial analysts.
D)The services of financial analysts would become more valuable to investors.

Question

Quizplus · Accepted Answer

Adoption of IFRS worldwide would increase the comparability of financial statements across countries by ensuring that they are prepared using the same accounting principles. This would be beneficial for financial analysts as they could easily compare the financial statements of companies operating in different countries, and provide more informed investment advice. Option A is partially correct, but the primary benefit of IFRS adoption is the comparability of financial statements. Options C and D are not directly related to the endorsement of IFRS adoption.

Why Should Financial Analysts Endorse the Adoption of IFRS Worldwide