The second phase (1989-1993)of the IASC's efforts to harmonize accounting standards was aimed at what goal?

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The second phase of the IASC's efforts to harmonize accounting standards was focused on creating greater financial statement comparability across countries. This involved developing a core set of standards that would be widely adopted and applied consistently by companies around the world, thereby facilitating cross-border investment and reducing the costs and complexities associated with reconciling different accounting practices. This phase also saw the introduction of the Conceptual Framework, which provided a basis for developing and revising accounting standards in a coherent and consistent manner.

The Second Phase (1989-1993)of the IASC's Efforts to Harmonize Accounting