Consultant To Philan Manufacturing Company

ATTN: MS ANNE PHILLIPSCEO, PHILAN MANUFACTURING COMPANY,1 MAIN STREET, WORCESTER MA 01560SUB: Positives & Negatives of expanding globally.Respected Reader,We have studied and analyzed the financial statements of the provided company. Based on our conclusions the answers provided for your questions are discussed as we go further.The complexities and complications while operating a global business are as follows:Variety-The global organizations faced a severe challenge of diversity as the working staffs and their requirement are different as thus it affects in revenues also.Interconnection-It is more or less interdependence, as everything is not co-related; hence it affects the assets and liabilities of the companies.Equivocation-No clear information is provided as there are lots of accounting standards available and applicable which increases expenses.Flow-The main complication is of flow or change. This flux arises when once you are able to fix one problem which is temporary; you are surrounded by another problem. (IMD, 2013).No, the US GAAP and IFRS are totally different as there assumptions and frameworks are different. US GAAP concentrates US based laws and other regulatory, while IFRS consider globally.IFRS are standards prepared for the global countries allowing trades in between them. These are established with an