Financial reporting

In the second deliverable the students have to cover : The influence of economic ,political and cultural variables on financial reporting Political factors means:the regulatory culture and the legal system. One tof the questions that you can search for its answer :is the difference between the common law and code law can influence the accounting standards or even the accounting reporting. Harmonization and convergence “ arguments for and against” The convergence of standards is a way to decrese the cost of capital”cost of investment that result from accounting diversity” IASB framework