Prepare a business report which discusses the advantages of a common set of global reporting standards and why harmonisation of accounting standards is felt to be important by accounting standard setting bodies such as the Financial Reporting Council in the United Kingdom and the International Accounting Standards Board. Your report should also discuss the progress towards harmonisation made in different countries in recent times. The United Kingdom should be included as a key example (with reference made to the recent issue of FRSs 100, 101 and 102) but not the only example referred to.