Day: November 23, 2023
Harmonization: Is It a Global or an International Thing?
Harmonization is vital to accounting in today’s world. Harmonization falls under the concept of international convergence. As mentioned on the Financial Accounting standards Board website, convergence first came about in the late 1950s in response to post WWII economic integration and related increases in cross-border capital flows. According to fasb.org harmonization is described as reducing