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To: Mr Williams From: 123456 Title: Harmonisation Of Accounting Date: 07/04/2003 Introduction: Harmonisation, also known by standardisation, uniformity and convergence are used refer to efforts to ensure that like transactions and events are accounted for in a like way wherever they take place or are reported. Different players have had different levels of success, while some have shifted their focus to notions of equivalence or argued for mutual recognition. Arguments Against Harmonisation: The differences in accounting requirements matter now that business, investment and capital markets are international because both domestic and foreign readers use financial statements. When accounting requirements differ, readers may struggle to distinguish the changes in results and financial position, which are caused by variations in performance from the effects caused by the use of different accounting requirements. It is for this reason that if each different country has a different set of practices things become difficult especially if there is a lot of...

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