WWhat are the Pros and Cons of using a single time zone in a single instance of E1 as opposed to usi

e have European operations in 4 countries and are planning an implementation in conjunction with North America. What are the pros and cons of using multiple and single time zones in a single instance. How will this affect times placed on reports, scheduled jobs, month end closes etc. Has anyone used a single time zone for countries in different  time zones  can you let us know please

thanks