A uniform set of accounting standards across all nations

Question

1) Do you think a uniform set of accounting standards across all nations will work? Provide pros and cons to your argument. Provide Reference in APA format and maximum of 200 words.

2) Many companies hold equity securities of other companies as investments. The journal entries and accounting methods differ, depending on the percentage of interest held. Discuss briefly the various categories of these investments and why the accounting approach differs. Provide reference in APA format and Maximum 250 words.

3) There are differences between financial statements prepared for calculating income taxes and those prepared for financial reporting purposes. The former is prepared according to the Internal Revenue Code while the latter is prepared according to GAAP. What are the differences between the objectives of financial statements for calculating tax liability and financial reporting? Provide reference in APA format maximum 200 words.

4) The most common types of pension plans are the defined-contribution plan and the defined-benefit plan. Discuss the advantages and disadvantages of each. Provide reference in APA format and maximum 200 words.

Answer 1

For the problem related to set of accounting standards, respond to the following question in accordance to APA standards in around 2 pages word document. Q1. Do you suppose a uniform set of accounting standards across all the nations will work? Give pros and cons to your discussion. Q2. Most of the companies hold equity securities of other companies as investments. The journal entries and accounting techniques be different, based on the percentage of interest held. Describe in brief the different categories of such investments and explain why the accounting approach is different. Q3. There are dissimilarities between the financial statements prepared for computing income taxes and such prepared for the financial reporting purposes. Write down the differences between the objectives of financial statements for computing tax liability and financial reporting?