IFRS are important to multinational companies because
A)if they can use IFRS for all their operations,it would simplify the process of preparing financial statements.
B)it would lower their taxes in each country in which they do business.
C)it would enable them to achieve higher profitability due to the different reporting standards under IFRS.
D)All of these choices.

Question

Quizplus · Accepted Answer

Using IFRS for all operations simplifies the process of preparing financial statements, making it easier for multinational companies to comply with regulations, enhance transparency and reduce costs. While IFRS may have tax implications, adopting it solely for that reason would not be the best option. Similarly, while IFRS can provide different reporting standards, it is unlikely to lead to higher profitability in itself.

IFRS Are Important to Multinational Companies Because