Since the enviroments in which an economic entity operates are dynamic, the accounting profession mustremain current to be useful. Only then can it serve information needs of decision makers in ever-changing business enviroments. We live in an age which economy is fast becoming global. Natural, human, and financial resources often can be shifted from one part of the world to another part conveniently, efficiently, and at great speed. International accounting provides pertinent information to decision makers in this ageof a global economy, helping them make resource allocation decisions that maximize the benefit to humankind.
For this reason, it is important to study international accounting. Otherwise, in this age of international operations and wordwide markets there would be an information vacuum, resulting in less than optimal economic decisions. The end result would be misallocation of economic resources worldwide.
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