Accounting standards-international global warming standards

Reference no: EM131151117

It is still hard to understand why it is taking so long for the final decision to be made. It is interesting that so many other countries have adopted the standards and some of the countries as well advanced in their financial reporting methods. You may not be aware of it but the United States is one of the few major countries that have not adopted Global Warming standards as well. I believe cost is playing an important role in both decisions. Companies in the U.S. are reluctant to do anything that may impact its bottom line profits. In the short-term it is likely the start-up costs of the new system will be substantial and will have an impact on net profits. However, I believe the long-term benefits of have an international set of standards far outweigh the short-term losses that U.S. firms will incur.

What are your thoughts on the U.S. position in both areas of international accounting standards and international global warming standards?

Reference no: EM131151117

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