Major expected costs-benefits for globalized businesses

Reference no: EM1355667

With the globalization of corporate business and cross border security listings, the need for a common set of accounting standards to be applied worldwide emerged to the surface. Both the IASB and the FASB have taken steps towards this goal.

As a result, the SEC recently has abolished the reconciliation to US GAAP required from foreign firms listing on US exchanges, allowing them to file using the IFRS.

Required:

A. Analyze the costs and benefits of cross border security listings.

B. Discuss major expected costs and benefits of US firms adopting IFRS.

Reference no: EM1355667

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