+1-415-670-9189
info@expertsmind.com
Ifrs standard to capital market or environmental accounting
Course:- Financial Accounting
Reference No.:- EM13881521




Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Financial Accounting

International Financial Reporting Standards (IFRS) are designed as a common global language for business affairs so that company accounts are understandable and comparable across international boundaries. They are a consequence of growing international shareholding and trade and are particularly important for companies that have dealings in several countries.

They are progressively replacing the many different national accounting standards. The rules to be followed by accountants to maintain books of accounts which is comparable, understandable, reliable and relevant as per the users internal or external.

Students are also required to choose and comment on a relevant IFRS standard either related to capital market or social accounting or environmental accounting.

Answered:-

Verified Expert


Preview Container content

International Financial Reporting Standards (IFRS) issued by the International Accounting Standard Board (IASB), a new concept of international accounting standards in accordance with the generally accepted accounting principles. It is a principle based standard which cannot be easily identified. The major objectivity of IFRS is to develop high set of quality, legally enforceable and understand ability of the accounting standards that are accepted globally. It also helps in promoting the use of such important applications. IFRS has been recognized in many parts of the world including Hong Kong, Australia, Singapore, Pakistan and US.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Financial Accounting) Materials
In 2014, Zoe Inc. billed its customers $57,000 for services performed. The company collected $40,600 of the amount billed. Zoe incurred $37,400 of other operating expenses on
Neptune Company produces toys and other items for use in beach and resort areas. A small, inflatable toy has come onto the market that the company is anxious to produce and se
Powder Corporation began operations on January 2, 2013, with a total investment of $150,000 by its stockholders. Net income for its first year of business was $90,000. During
The founders of Samanta Shoes utilize variable costing in their business decisions. If Samanta Shoes utilizing absorption costing, would you see the company's income to be m
Calculate the total project cost for this mixed-use development from the information provided. In order to get credit for this question you must show all your calculations.
Aerotron Electronics has just bought a used delivery truck for $15,000. The small business paid $1,000 down and financed the rest, with the agreement to pay nothing for the en
If the demand of unskilled labor were inelastic, would the proposed increase in the minimum wage raise or lower total wage payments to unskilled workers? Would your answer c
Loss on operations of the wholesale division (net of tax) 90,000. Dividends declared on common stock 250,000. Create a multiple-step income statement and a retained earning