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Which of the following is one of the main advantages of standardization in financial reporting?

a. Comparability between accounting periods and between entities b. The production of prudent financial statements c. Increased flexibility in financial reporting d. The use of creative accounting practices

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Question added by Deleted user
Date Posted: 2013/08/27
Nitin Gupta, ACA
by Nitin Gupta, ACA , FP&A , Rockwell Automation

a. Comparability between accounting periods and between entities.

 

As any set of accounting standards followed in diferent countries can fulfuil the other3 objectives but the first one can only be fulfilled by one accounting standards followed by all.

صباح حميد غفور سعيد
by صباح حميد غفور سعيد , اداره المحتوى في المؤسسه .المدير العام , منتجه ومصنعه واداره اعمال في الف عافيه هه زار عافيه

. The production of prudent financial statements

 Increased flexibility in financial reporting

Mansour Al Ahmadi
by Mansour Al Ahmadi , Financial Analyst , Aramco Trading Company

a. Comparability between accounting periods and between entities.

 

Since the standards will be applied everywhere. It will make it easier for comparisons

Zeeshan Bhutto
by Zeeshan Bhutto , Business / Financial Analyst - Finance , United Bank Limited

a. Comparability between accounting periods and between entities

Musa Muhammad Dandikko
by Musa Muhammad Dandikko , Chief Accountant, Acting Director, Procurement , Federal College of Education, Katsina

The production of prudent financial statements

Khaled Abdelrehim ACCA DipIFR CMA
by Khaled Abdelrehim ACCA DipIFR CMA , Financial Analysis Assistant General Manager , Khalda Petroleum Company

A

pravitha nottath
by pravitha nottath , Customer Service Representative , Tanfeeth enbd.group

d

Mohammed Ismael
by Mohammed Ismael , Finance Manager , confidintional

A

sure the compare which will help the users to understand and compre between entity performace

suleiman bushnaq
by suleiman bushnaq , Senior AML Specialist , ING Tech Poland

A

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