Nobody downloaded yet

International financial reporting standards (IFRS) - - PowerPoint Presentation Example

Comments (0) Cite this document
International Financial Reporting Standards (IFRS) is a set of accounting standards established by a free, non- profit association called the International Accounting Standards Board (IASB). The objective of IFRS is to give a global structure to how public organizations organize…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.3% of users find it useful
International financial reporting standards (IFRS) - Presentation
Read TextPreview

Extract of sample "International financial reporting standards (IFRS) -"

Download file to see previous pages Receiving a single set of overall guidelines will simplify accounting procedures by permitting an organization to utilize one reporting dialect all through. A single standard will also provide investors and auditors with a cohesive view of finances. 
As of now, more than 100 nations allow or oblige IFRS for open organizations, with more nations anticipated that would move to IFRS by 2015. Advocates of IFRS as a worldwide standard keep up that the expense of executing IFRS could be balanced by the potential for compliance to enhance credit scores.
The list of the International Financial Reporting Standards (IFRSs) and official interpretations are set out by the IFRS Foundation. It incorporates accounting standards either created or embraced by the International Accounting Standards Board (IASB), the standard-setting assortment of the IFRS Foundation.
The value of financial data is improved on the off chance that it is comparable, understandable, convenient and justifiable (ie improving qualities—less discriminating yet at the same time exceptionally alluring)
• To an extensive degree, money related reports are in view of evaluations, judgements and models instead of careful delineations. The Framework creates the ideas that underlie those evaluations, judgements and models
In UAE, the bookkeeping calling is spoken to by the Accountants and Auditors Association. In the UAE organizations set up their yearly budgetary explanations inside 2 to 3 months of the end of the monetary year. For the banking industry, as indicated by Central Bank Circular No 20/99, banks, monetary foundations and venture organizations in the UAE are obliged to set up their money related explanations as per the International Accounting Standards with impact from January 1, 1999. In 2006, the Dubai International Financial Centre legitimate system obliges banks and organizations recorded on the Dubai International Foreign Affairs to execute IFRS. All banks recorded ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“International financial reporting standards (IFRS) - Presentation PowerPoint”, n.d.)
International financial reporting standards (IFRS) - Presentation PowerPoint. Retrieved from
(International Financial Reporting Standards (IFRS) - Presentation PowerPoint)
International Financial Reporting Standards (IFRS) - Presentation PowerPoint.
“International Financial Reporting Standards (IFRS) - Presentation PowerPoint”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF International financial reporting standards (IFRS) - Presentation

International Financial Reporting Standards

...?Introduction International Financial Reporting Standards were implemented after the overall complexity of business organizations as well as the nature of accounting relatively changed. International Financial Reporting Standards (IFRS), therefore, have been considered as an effort by the world accounting governance bodies to ensure that uniform reporting standards are adapted across the whole world. Due to the globalization process, organizations have become truly global in nature with their presence in different countries of the world. However, due to...
8 Pages(2000 words)Dissertation

International Financial Reporting Standards (IFRS)

...? International Financial Reporting Standards (IFRS) International Financial Reporting Standards (IFRS) is a framework prepared to develop new rules for accounting and auditing. It was created to maintain a uniform global accounting and auditing policy for smooth functioning of the global financial markets. The US GAAP, (Generally accepted accounting principles) is another framework which is followed in many countries. This was created before IFRS. Though the purpose of creating these two frameworks is same but there are many differences...
3 Pages(750 words)Essay

International Financial Reporting Standards

...such as text books will have to be rewritten, and students will be required to learn the new principles. The time lost and costs incurred during the execution of the new standards may slow down the performance of the economy. Works Cited Ernst & Young. International GAAP 2012: Generally Accepted Accounting Practice under International Financial Reporting Standards. New York: John Wiley & Sons, 2012. Print. Needles, Belverd. & Powers, Marian. A Guide to International Financial Reporting Standards. New York: Cengage Learning, 2012. Shamrock, Steven. IFRS...
3 Pages(750 words)Research Paper

International Financial Reporting Standards

...?In the United s the prevailing accounting framework utilized by professionals in the field of accounting and finance is the U.S generally accepted accounting principles (GAAP). Despite its effectiveness in other parts of the world U.S. GAAP is not an accepted accounting framework. In the international community the fastest growing accounting framework that is being used in the business industry of different countries is the international financial reporting standards (IFRS). The international financial reporting standards were created by the...
4 Pages(1000 words)Assignment

International Financial Reporting Standards

...framework underlying its financial reporting standards and interpretations, the Framework for the Preparation and Presentation of Financial Statements (the Framework). The Framework sets out the concepts that underlie the preparation and presentation of financial statements for external users Introduction: This Essay provides an adequate knowledge of International Accounting Standard (IAS) and General Accepted Accounting Principle (GAAP) and their comparison. Mainly we only emphasize on the 5 IAS and compare their similarities and differences with the GAAP. It includes the...
8 Pages(2000 words)Essay

International Financial Reporting Standards

...and thinking of appropriate solutions. Key benefits of going for IFRS include; i. Streamlining of reporting of the financial health of the company ii. Cost reduction - as companies will be able to make standard packages iii. Consistency in operations and financial details iv. Comparison with international competitors becomes easier. v. Better opportunities for accessing capital markets. But despite these benefits, the transition from GAAP to IFRS also presents couple of challenging situations for companies and governments. For example; i. The process of conversion from GAAP to...
3 Pages(750 words)Assignment

Adoption of International Financial Reporting Standards (IFRS) in European Union

...Adoption of International Financial Reporting Standards (IFRS) in European Union Introduction International Financial Reporting Standards (IFRS) followed by International Accounting Standards Board (IASB) is a uniform format of financial coverage which has gained momentum globally and is a distinct reliable accounting model, which most likely will become predominant. Carmona and Trombetta (2008) measured the logic and significances of the principles-based arrangement and proposed that the approach based on principles to the criteria and its internal tractability allows the appliance of IFRS to countries with various accounting customs and varying institutional circumstances. Moreover, they added that the approach which was based... ....
5 Pages(1250 words)Term Paper

Case 2

2 Pages(500 words)Case Study

International Financial Reporting Standards

...International Financial Reporting Standards Task International Financial Reporting Standards (IFRS) IFRS is a set in international accounting standards developed by the IASB with the main goal of providing a global framework for public companies in the preparation, as well as the disclosure of their financial statements. Consequently, the financial reporting and disclosure standards provided by IFRS act as a guideline for the preparation, reporting, and analysis of financial statements provided by public companies. This is unlike this is unlike the other existing financial reporting frameworks which, on the contrary, set rules, and regulations with the key aim of governing the preparation, presentation, as well as the reporting... ...
2 Pages(500 words)Essay

International Financial Reporting Standards

...Section_1 Question_no 1 The IAS 1 affirms the employee (internal user) uses the financial reports as basis for seeking work-related benefits (Weygandt et al., 2014). A high net profit picture encourages the employee to request for salary increases. A net loss financial report prods the employee to seek employment in another company, fearing the company may close shop in the near future due to bankruptcy. Similarly, IAS 1 affirms the resident (external user) who is living within the vicinity of the company uses the financial report to determine if the company is a viable work alternative (Weygandt et al., 2014). A high...
8 Pages(2000 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another PowerPoint Presentation on topic International financial reporting standards (IFRS) - Presentation for FREE!

Contact Us