Accounting Standard

Question 1

Since 2011, there was a push to harmonise, or integrate US Generally Accepted Accounting Principles (US GAAP) with International Financial Reporting Standards (IFRSs). The rationale is that it would level the playing field for global businesses by providing regulators, auditors and decision-makers, such as investors, uniform information based on the same accounting methodologies. Those in favour of this believe that this would improve accountability, reduce international transactional and exchange rate risks and improve information transfer to enhance economic policy decision-making. However, harmonised accounting standards are not without its criticisms.

Required: Identify and discuss clearly what the arguments against a uniform accounting standard are. (30 marks)

Question 2

In the past few years innovation seems to have moved from being product based to experience based, with an emphasis on value through repackaging. Do you agree or not? Why or why not? Give examples to support your stance.

Question 3

What companies/product do you think we be a great company to partner with to grow impact together and faster for people over 50?

Give three examples and why?

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