The website of the FASB (as at early 2009) states that FASB intends: To promulgate standards only when the expected benefits exceed the perceived costs. While reliable, quantitative cost-benefit...

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The website of the FASB (as at early 2009) states that FASB intends:
To promulgate standards only when the expected benefits exceed the perceived costs. While reliable, quantitative cost-benefit calculations are seldom possible, the Board strives to determine that a proposed standard will meet a significant need and that the costs it imposes, compared with possible alternatives; are justified in relation to the overall benefits.
Do u think that cost benefit considerations will be different in different countries? If so how would cost-benefit considerations be determined by a global accounting standard setter as the IASB?
Evaluate the argument for and against? Which argument do you consider more compelling ? Write in 1000 words on accounting based.
Answered Same DayDec 20, 2021

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Robert answered on Dec 20 2021
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Advanced Accounting
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Cost benefit analysis may not differ in different countries because the International Accounting setter has come up with accounting standards that are globally accepted and are used in different countries in calculating cost benefit analysis. Cost Benefit analysis provides an insight of how an action should be ca
ied out. However, within different countries, cost benefit analysis will always differ despite of the set international standards. The analysis is normally undertaken with an aim of determining how a planned action may effectively provide a result. Cost benefit analysis assists in noting the existing benefits, which may be associated with a certain project. It however differs from one country to another because of their dissimilar tax systems. This can also be based on the factor that the country in question may be developed or still developing.
Cost benefit analysis is a technique that can be utilized during the analysis of various business processes. These are processes like the process of calculating and comparing the associated benefits, which arise as well as the costs associated with a project. In addition, the analysis can be used in calculating the government policy decision. Cost benefit analysis has the purpose of determining if the amount calculated can be considered a sound investment. It can also be used to provide a basis where projects could be compared in terms of the expected costs against the expected benefits hence providing an overview of which among the costs or benefits outweigh the other. What a company spends refers to the company’s costs, in relation to the existing benefits, which form the basis of what the company expects to gain from its spending. Cost benefits analysis will provide an overview of whether the company should spend or not, depending on the expectations. For instance, if the expectations are desirable, the company should therefore spend to achieve the expectations (Laurenţiu, 2011).
Reform measures available in developed economies; ensure that simplified procedures are provided under the basis of the available general provisions as required by the existing tax system in a country. On the other hand, countries which have high levels of informality will be...
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