Fernbach: Multi GAAP 2.0 – Nickname “Mickey Mouse Accounting”

Entities that are active in several countries require an enterprise-wide, uniform accounting policy. However, they face considerable challenges because every country imposes its own unique accounting regulations. Moreover, some entities that operate at national level submit financial statements, either mandatorily or voluntarily, in compliance with international accounting standards as well as national standards. They face the question, what is the optimal approach? A “super set of books” that