17 New Accounting Thesis Topics | Guide to Writing
The IFRS are accounting standards, rules and principles that were introduced by an independent organization in the United Kingdom, known as the International Accountants Standards Board. The institution puts forward that the standards would better serve public companies worldwide than the local standards in the country due to the aspect of comparability, transparency and economic growth. There are several countries that have adopted the IFRS over the recent years. The transition to IFRS for the companies in these countries has considerable costs. There are technical and training costs that are incurred that may cause several companies to be cautious in implementing these changes. However, the benefits are numerous and worth it.
International Financial Reporting Standards IFRS is a comprehensive, globally accepted set of accounting criterions using a principles-based attack with a greater accent on reading and application of those rules, taking at best reflecting the economic substance of minutess. It is a less extended organic structure of literature than U. GAAP with limited industry counsel and lesser elaborate application counsel.
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