Read the case study “Daimler-chrysler” and answer the following:

The central accounting concept of the case is the comparability of DC's financial statements after adopting new IFRS accounting policies. Based upon your understanding of the IASB Conceptual Framework, discuss whether DC's conversion to IFRS enhances the qualitative characteristic of comparability or detracts from comparability between entities and among periods. To respond to this question, access the most current financial reports for the world's seven largest automotive companies by revenue in 2013 (hint: conduct an Internet search to determine the largest automotive companies by revenue in 2013 and access financial reports on the companies' websites). Is DC's reporting under IFRS comparable with the financial reporting of its competitors? In addition, identify which basis was used for reporting comparable information in the 'Ten-Year Summary' in DC's Annual Report 2007; does this report enhance the qualitative characteristic of comparability? List at least three obstacles to global financial reporting comparability that discusses.