A single set of accounting standards could help a U.S.company save time and money in the acquisition of a German company.

Question

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Having a single set of accounting standards would make it easier for the U.S. company to understand and integrate the financial information of the German company, thereby saving time and money. If the two companies use different accounting principles, there may be additional expenses incurred for translating financial statements, analyzing differences, and reconciling accounts. A uniform set of global accounting standards can facilitate the due diligence process and simplify the post-acquisition integration of financial reporting systems.

A Single Set of Accounting Standards Could Help a U