What are the scope and need for International Accounting?

<p>International Accounting has <strong>a wide scope and necessity </strong>in the world economy. International accounting deals with the financial reporting financial and regulatory issues of companies across different countries, ensuring uniformity, transparency, comparability of financial statements globally.<br>Further, international accounting <strong>gives way to global market interconnections. </strong>Because of this, a single language for financial reporting becomes indispensable across markets for making effective decisions at the level of investors, regulators, and stakeholders. International Accounting reduces financial risks through the ability to provide a reliable, consistent framework of financial reporting that improves corporate governance and promotes international trade and investment.</p>

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