Homework answers / question archive / 1) Based on your study of Chapter 3 of the text book and your research can you differentiate the terms "Harmonization" and "Convergence"

1) Based on your study of Chapter 3 of the text book and your research can you differentiate the terms "Harmonization" and "Convergence"

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1) Based on your study of Chapter 3 of the text book and your research can you differentiate the terms "Harmonization" and "Convergence". Discuss the role of International Accounting Standards Board(IASB) in bringing harmonization of accounting standards and the convergence of accounting standards.

2. Class, what are the advantages and disadvantages of having one set of standards (IFRS) to be followed by all companies worldwide?