A Risky Proposition

A Risky Proposition

Introduction

In the United States of America (US), all the bookkeeping techniques and guidelines for estimation and reporting by business firms are legislated by a collection of standards and thoughts reputed to be "Generally Accepted Accounting Principles (GAAP)." These GAAP are quickly issued by the Financial Accounting Standards Board (FASB) with the power designated by the Securities and Exchange Commission (SEC). Verifiably, every nation improved its own particular GAAP and there was no consistency around the GAAPs of distinctive nations. Correlation of monetary proclamations issued by business firms from distinctive nations has gotten unimaginable heading to suboptimal ...