International financial reporting standards-ifrs, accounting, Basic Statistics

IFRS: IFRS (International Financial Reporting Standards) is a set of accounting standards that were developed as global standard. The IFRS was developed by IASB (International Accounting Standards Board) in 2005. 25 member states of the European Union together decided to adopt a common set of financial reporting standards called IFRS. The objective of setting up the IFRS was to further standardize the accounting rules followed across the globe. It aims to make comparisons in organizations across the globe much simpler. Roy Dodge (2007)

IFRS has already been adopted by over 12000 organizations across the globe, in more than 100 countries ranging from UK to Australia. This transition has been seen maximum in the European Union.  In 2003, IFRS was made mandatory in the European Union countries, Australia, some parts of the Middle East, Africa and Russia. Countries like India and Canada are yet to adopt the IFRS standards. The number of nations adopting the IFRS is growing every day, with the expected number of nations to grow to 150 by 2011.

Expertsmind.com offer unique solution in Accounting

Posted Date: 2/25/2012 7:50:16 AM | Location : United States







Related Discussions:- International financial reporting standards-ifrs, accounting, Assignment Help, Ask Question on International financial reporting standards-ifrs, accounting, Get Answer, Expert's Help, International financial reporting standards-ifrs, accounting Discussions

Write discussion on International financial reporting standards-ifrs, accounting
Your posts are moderated
Related Questions

at what p-value do we reject the null hypothesis for the Dublin-Watson test

There are 49 mice in a pet shop. 30 mice are white. 27 mice are male. 18 mice have short tails. 8 mice are white and have short tails. 11 mice are male and have short tails.

hi i just want to knw my husband done b.com n doing job as a accountant in private firm can u suggest me it is better for my husband to do m.ba or either some professional course

Atomistic fallacy The fallacy which arises because of the association amongst the two variables at the individual level might differ from the association between the similar two

Fenn Museum, a nongovernmental not-for-profit organization, had the following balances in its statement of functional expenses: Education $300,000 Fundraising 250,000 Management an

Federal income tax Another part of paycheck accounting involves the staff's got earnings tax. A company is necessary to hold the got earnings tax that and personnel are expecte

Definition of Management Accounting According to the Chartered Institution of Control Agency (CIMA), Control Sales is "the procedure of recognition, statistic, build up, researc

suggestions to improve accounting concepts

uses of time series with example