Europe and the US move closer to the ideal of one set of accounting standards

摘要

The absence of a single set of accountancy standards for Europeans and Americans has caused difficulty and extra expense for years. Siemens AG, Europe's largest electronics and electrical engineering firm, is among the companies pushing for a single set of standards. As reported by Bloomberg News, Chief Financial Officer Heinz-Joachim Neubuerger estimated the cost to Siemens of reconciling its books to US accounting rules at up to 83 million dollars a year.