Estimated reading time: 0 minutes, 26 seconds
- Wednesday, Oct 12 2011
- Unsorted Comments
- Written by Brian Luscher
Accounting standards are imprecise enough without having multiple reporting standards. I heartily agree, one international set of standards is essential to international commerce. It will also in all likelihood reduce the cost of complying with reporting requirements. The metric - English analogy is very apt. I find myself using metric whenever I can so that I can get accurate measurements so I don't have to recall "was it 15/16ths" or 13/16ths" or reading the fraction off a tape measure when the millimeter readings are easy and clear.