Consider this scenario: you have worked very hard and have just earned a promotion at Quality CPA firm. As part of your new responsibilities, you will be advising an influential client on their international aspirations. Their business has been booming and they are seriously considering expanding their operation overseas. They are concerned about the political and financial risks of such an undertaking.Build a PowerPoint presentation, with speaker notes to elaborate, that addresses the upper management of this company. Canada is the potential destination for the company, although other countries can be included, as the global market is the focus. The presentation must explore the company’s potential expansion into the chosen country, the global market in general, and how the expansion will impact their operations.Specifically, the following critical elements must be addressed:1. Global Business: (10-15 slides) for this part of the assessment, convey to your audience the differences between accounting principles around the world. A. Explain the influence of environmental issues of diversity on accounting practices. B. Evaluate the impact of Canada’s culture on their financial accounting standards. 1. Use the accounting principle, Hofstede’s dimension of culture, to help inform your response. C. Evaluate the impact of potential issues on business operations that may arise when conducting accounting business in Canada.II. Accounting Standards: (10-15 slides) for this part, explain to your audience the differences between generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) and the implications in converging with IFRS. A. Differentiate between the reporting requirements for GAAP and IFRS. B. Given these differences, determine which reporting standards would be most appropriate for your company, given their desire to expand globally and why they would be appropriate. C. Distinguish the disclosure requirements for GAAP and IFRS. D. Given these differences, determine which disclosure standard(s) would be most appropriate for your company given their desire to expand globally, and explain why they would be appropriate. E. Assess the impact that the convergence of GAAP and IFRS will have on investors of companies in the United States and in the global market. F. Assess the impact that the convergence of GAAP and IFRS will have on firms similar to your company. In other words, how will its effect on investors and the global market affect the company? G. Explain the role of International Accounting Standards Board (IASB) in harmonization . How is the board created? In other words, how does this support convergence? 1. What are your thoughts on how this may or may not impact your company?III. Global Market: (10-15 slides) for this part, explain to your audience the impact that expanding into the global market will have on your decision-maing tools and processes. A. Analyze the potential issues in financial statement analysis when conducting business in Canada. B. Make recommendations on how your company could avoid these financial statement analysis issues. C. Analyze the international financial statement analysis process for potential benefits. In other words, what would be the benefits of international financial statement analysis despite the potential issues?IV. International business Practice: (10-15 slides) for this part you will explain the implications of variances in international tax laws on organizational strategy. Youwill also explain how foreign currency transactions impact financial statement creation in accordance with GAAP. A. Explain how foreign currently exchange rates will impact the income potential or financial risk of the company given their expansion into the global market. 1. What will this mean for the income and risk of the company? 2. How will foreign currency exchange rates impact financial statements? B. Make recommendations for tools or strategies the company could use to help mitigate these risks. C. Explain the benefits of international tax laws or treaties if your company expanded to your chosen country. D. Provide examples of possible tax incentives offered by countries to attract investments or promote exports. E. Explain the tax disadvantages that should be considered by your company and your investors when expanding globally.Guidelines for Submission: Your PowerPoint presentation must be accompanied by speaker notes.