QUESTION 2

Many parties are interested in international harmonization, including shareholders, multinational companies, and accounting companies. (Nobes and Parker, 2006, page 94).

Required:

a) Discuss the success or failure of the International Accounting Standards Committee (IASC) in achieving its two main objectives.

(12 marks)

b) Explain how shareholders and multinational companies can gain from international harmonization of accounting.

(8 marks)

(Total: 20 marks)

QUESTION 3

Classification is of fundamental importance to natural scientists, and has also been used in many social sciences. It seems reasonable that we might gain from a classification exercise in comparative accounting. (Nobes and Parker, 2006, page 7).

Required:

a) Explain why there have been many attempts of classifications in international accounting.

(15 marks)

b) Discuss two (2) problems with Muellers classification.

(5 marks)

dear tutor, kindly see the question above and provide an appropriate respone to it, kindly give a proper reasonable expalianation. please do not copy paste or plagdiarize your respone . thank you