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Essay text:
Standardization refers to the consistency of a product or service and the ability of the manufacturer to produce and reproduce that product or service with as little variation as possible. Standardization is necessary in order to ensure that consumers around the world receive the same quality of product or service regardless of where and how they are produced. The benefits of standardization may not always clearly be visible but it is enormous for our society. Multinational Organizations who conforms to International Standards can easily compete on many markets around the world. When products and services are based on International Standards, customers have more choices because of worldwide compatibility of these products...
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Common topics in this essay:
- Accounting Standards
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- International Financial Reporting Standards
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