Question

What do you think is the main aim on tax efficiency of international accounting?

Answer 1

Main ain on tax efficency of International accounting

Ans. With the help of globalisation activities and interest of investors, lenders and companies become increasing which leads to accept the number of forums to develop a globally accepted. high quality financial repoting framwork required.

Purpose of this helps to increase quality of financial reporting domestically, while encouraging convergence towards a high quality global financial reporting framework internationally

Benifits of Increasing the Tax Efficiency

1.Ethics :One major benefit of international standards is that they consider input from professionals and legal authorities around the world. This can create a set of ethical guidelines that do not favor one culture over another, as can be the case when a foreign company adheres to its own domestic ethical value,s

2.Investor Benefits: Investors can compare the financial statements of companies following International Accounting Standards Board standards, or other international guidelines, regardless of the company's country of origin. Without standards, making comparisons becomes less reliable, as the information presented in financial statements is calculated using different methods

3.Multinational Companies.

International accounting standards also simplify accounting for multinational companies that have facilities and operations in multiple countries