Questions and Answers of Comparative International Accounting

Suggest reasons for the adoption or non-adoption of IFRS for SMEs in China, France, Japan, South Africa and the United States.
Why has the FRC in the United Kingdom decided to converge (partially but not completely) UK standards for individual companies with IFRS for SMEs?
Discuss the view that IFRS 8 ignores the needs of many stakeholders.
Compare the composition and the roles of the FRC in the United Kingdom and the ANC in France.
Why is auditor independence a problem in Central and Eastern Europe?
Explain how the IASB’s standard for private entities differs from full IFRS. In your opinion, does it differ enough?
If a translation of IFRS exists in a language with which you are familiar, assess the quality of the translation.
If it is found that large differences in IFRS practice exist systematically between countries, what implications does this have?
To what extent has the scope for different practice under IFRS declined over the past decade?
‘The influence of tax on financial reporting cannot be relevant in the context of IFRS consolidated statements.’ Discuss.
Access the website of GlaxoSmithKline (www.gsk.com) to explain the differences disclosed in its annual reports between US GAAP and IFRS and UK GAAP from 2004 to 2006. Could these differences
Explain the arguments for and against allowing the IASB and the FASB to compete in the provision of accounting standards. Which arguments are the stronger?
Discuss the high-level differences between IFRS and US GAAP. Was the SEC right to demand reconciliations of IFRS to US GAAP from foreign companies that are listed on US exchanges?
Explain the advantages and disadvantages of writing accounting standards containing principles rather than rules.
The countries listed below are not covered in any detail in the textbook. Which of the six ‘vital’ countries (see Section 4.3.1) does each most closely resemble so far as accounting and corporate
Which are the top three countries in respect of each of:(a) Share of the world’s top 100 companies;(b) Number of qualified accountants;(c) Market capitalization of stock exchange? Why is the answer

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