Reporting Alternatives and International HarmonizationAccounting procedures for business combinations historically havediffered across countries. Pooling-of-interests, for many years apreferred method in the United States, was not acceptable in mostcountries. In some countries, accounting standards permit goodwillto be written off directly against stockholders’ equity at the timeof a business combination.
Should U.S. companies care about accounting standards other thanthose that are generally accepted in the United States?Explain.
