International business is defined as the exchange of goods or services through commercial transactions (private. public, governmental, not-for-profit, other) that happen between individuals or firms in multiple countries.
International business is drastically different than conducting business domestically. Tax laws vary from country to country, Generally Accepted Accounting Principles (GAAP) requirements are different, and managerial accounting considerations are more complex.
If you run an¬ international business, you’ll need CPAs and advisors who can navigate these variances and understand how to service your global business effectively.