(Answered) Q1 identify the pros and cons of harmonizing accounting

Accounting

Q1. Identify the pros and cons of harmonizing accounting standards in the form of International Financial Reporting Standards (henceforth IFRS)

Q2. Provide a summary of New Zealand financial reporting framework explaining how different sets of accounting requirements apply to different entities.

Q3. While countries adopt IFRSs to enhance uniformity of standards, what sense does it make to still have country-specific accounting standard setting bodies and country-specific IFRSs?

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