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International Business by Sumati Varma

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20

Accounting for International Business

LEARNING OBJECTIVES

After going through this chapter, you should be able to:

  • Explain why accounting practices and standards differ from country to country

  • Describe attempts to harmonize accounting practices in different countries

  • Explain the rationale behind consolidated accounts

  • Describe the differences in the financial structures required because of the culture and tax regimes of different countries

  • Explain the techniques available for international accounting management.

Indian Power Sector Grapples with IFRS

The Indian power sector is going through expected difficulties in the process of its convergence with International Financial Reporting Standards (IFRS), which began in April 2011. Indian ...

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