Explain the Goal of Harmonization of Accounting Standards

question 17

Essay

Explain the goal of harmonization of accounting standards.Why is this so important to multinational companies?

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Definitions:

Decision Support Systems

Computer-based systems used by organizations to support decision-making processes.

Business Decisions

Choices made by businesses concerning strategic direction, operations, and policies with the aim of achieving organizational goals.

Knowledge Management

This is the process of creating, sharing, using, and managing the knowledge and information of an organization.

Databases

Organized collections of structured information or data, typically stored electronically in a computer system.