What does accounting harmonization refer to?
A)The smoothing of income between periods by a company
B)Achieving a high level of consistency among accounting standards of different countries
C)All companies using the same accounting standards
D)Reconciling financial statements prepared under pre-IFRS GAAP to financial statements prepared under IFRS

Question

Quizplus · Accepted Answer

Accounting harmonization refers to achieving a high level of consistency among accounting standards of different countries. This is typically done to reduce complexity and increase comparability of financial statements across different markets.

What Does Accounting Harmonization Refer To