Countries establish their accounting standards using one of two methods. They can be either code-law countries or common-law countries.
Required:
Explain these two separate methods used to establish reporting standards and why IFRS might not be adopted completely under either method. Provide examples of each type.

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The Answer of Countries establish their accounting standards using one of two methods. They can be either code-law countries or common-law countries.
Required:
Explain these two separate methods used to establish reporting standards and why IFRS might not be adopted completely under either method. Provide examples of each type.

Countries Establish Their Accounting Standards Using One of Two Methods