"International Financial Reporting Standards" Essays and Research Papers

1 - 10 of 500

International Financial Reporting Standards

The Benefits of Adopting International Financial Reporting Standards (IFRS) In The United States by Michelle Minor Accounting 203 5/20/09 Most people believe that the conversion from each country’s GAAP to IFRS is inevitable, though there is nothing conclusive of how effective or successful this would be. In short, making the switch to IFRS is a great leap of faith by all who participate. Ideally IFRS is designed to be used by all companies worldwide, which is highly unlikely unless they...

Premium Generally Accepted Accounting Principles, Financial Accounting Standards Board, International Financial Reporting Standards 1698  Words | 5  Pages

Open Document

Evolution of International Financial Reporting Standards (Ifrs)

study on Evolution of International Financial Reporting Standards (IFRS) HARITIKA CHHATWAL Objective Accounting is the systematic measurement and recording of financial information used for decision-making, coordination, or control in an organisation. In broader perspective the financial information has to be more read as “quantitative information" rather than just merely "financial information" as the measurement and use of "non-financial information" has emerged...

Premium Financial statements, International Accounting Standards, Finance 671  Words | 3  Pages

Open Document

Financial Reporting

What is financial reporting? The traditional function of financial reporting was to provide business owners with information about the companies that they owned and operated. Once the delegation of managerial responsibilities to hired personnel became a common practice, financial reporting began to focus on stewardship—that is, on the managers’ accountability to the owners. Its purpose then was to document how effectively the owners’ assets were managed, in terms of both capital preservation and...

Premium Financial statements, Income statement, Financial Accounting Standards Board 607  Words | 3  Pages

Open Document

Advantages and barriers of harmonizing International Financial Reporting Standards throughout the world

The development in international trade and capital flows that has occurred over the previous two decades has increased the desire to harmonise accounting standards across the globe. The appeal of international accounting harmonization has been extensively discussed. Numerous academics Ali, J M (2005), Adhikari and Tondkar (1992), Saudagaran (1997) argue that adopting International Financial Reporing Standards (IFRS) would bring great benefits to society, such as comparability of statements between...

Premium Multinational corporation, Balance sheet, Investment 1053  Words | 5  Pages

Open Document

Uniform Accounting Standards Produce Uniform Financial Reporting

Accounting Standards Produce Uniform Financial Reporting’ Inro Why is the question important? In an increasingly interconnected world, the operations of international corporations are transnational. In addition, more and more investing takes place on a global level. Historically, different countries have developed their own national accounting standards. Before the introduction of the IFRS, the accounting principles of neighbouring countries were similar in many respects but used different financial reporting...

Premium Finance, Common law, International Accounting Standards Board 1549  Words | 5  Pages

Open Document

Uniform accounting standards produce uniform financial reporting. Discuss and evaluate the above statement in the context of the International Financial Reporting Standards (IFRS)

the phrases “accounting standards” and “financial reporting” refer to. Accounting standards refer to the accounting methods used in an accounting system like the IFRS. Financial reporting refers to the representation of financial information, in order to be uniform the financial reporting must be based on a fixed set of rules, invole complete objectivity and no bias. The IFRS (International financial reporting standards) has indeed helped the uniformity of financial reporting. However, in some cases...

Premium Balance sheet, Inventory, Costs 1066  Words | 5  Pages

Open Document

Accounting Principles: Financial Reporting Standards

Accounting Principles At the completion of the Darby Department Store audit, the president asks about the meaning of the phrase “in conformity with generally accepted accounting principles,” which appears in your audit report on the management’s financial statements. He observes that the meaning of the phrase must include more than what he thinks of as “principles.” Required: a. Explain the meaning of the term accounting principles as used in the audit report. (Do not in this part discuss the significance...

Premium Accounting Principles Board, Auditor's report, International Financial Reporting Standards 612  Words | 3  Pages

Open Document

Uniform accounting standards produce uniform financial reporting.’ Discuss and evaluate the above statement in the context of International Financial Reporting Standards (IFRS).

In the last decade, various countries around the globe have shifted towards a uniform accounting standards or the International Financial Reporting Standards (IFRS). The main motive behind this movement is to come up with a global language for accounting which will be comparable and understandable beyond the borders of a nation. As of today about 120 countries require IFRS for domestically listed companies, although only about 90 countries have fully conformed to IFRS . While some argue that it is...

Premium International Accounting Standards Board, Gaap, U.S. Securities and Exchange Commission 793  Words | 3  Pages

Open Document

international standards

same standards to prepare their financial statements can be compared to each other more accurately. This is especially important when comparing companies located in different countries, as they might otherwise be using different rules and methodologies to prepare their statements. This increase in comparability has helped investors better determine where their investment dollars should go. Not Globally Accepted The United States has not yet adopted International Financial Reporting Standards and...

Premium Financial statements, International Accounting Standards Board, Financial Accounting Standards Board 1610  Words | 7  Pages

Open Document

Regulatory framework for financial reporting

for financial reporting Introduction In the next couple of pages the author will firstly discuss the main advantages of the crossroad growing adoption of IFRS, and how does it particularly benefit investors and managers. The author will also be discussing the most significant challenges of the adoption and expansion of the IFRS in the future. Further more the author will, suggest how the IASB and its key constituents should face these challenges and overcome them. IFRS International Regulatory...

Premium International Financial Reporting Standards, European Union, Financial statements 1485  Words | 5  Pages

Open Document

Become a StudyMode Member

Sign Up - It's Free