Ericsson,the Swedish MNE,was required as of 2005 to adopt both Swedish and U.S.GAAP since it lists it securities in both the U.S.and Sweden.

Question

Quizplus · Accepted Answer

Ericsson, like other foreign companies listed in the U.S., was required to reconcile its financial statements to U.S. GAAP, but not to adopt it fully. Since 2007, foreign private issuers can use IFRS as issued by the IASB without reconciliation to U.S. GAAP.

Ericsson,the Swedish MNE,was Required as of 2005 to Adopt Both