1. Identify several environmental factors that may explain why accounting principles differ among countries. 2. What are the objectives of the International Accounting Standards Committee Foundation,...

1. Identify several environmental factors that may explain why accounting principles differ among countries.

2. What are the objectives of the International Accounting Standards Committee Foundation, and does the FASB support those objectives?

3. Identify the unique accounting issues associated with consolidating a foreign subsidiary with the operations of its U.S. parent company.