Title: A Perpetual Study of IFRS towards a True and Fair view of International Accounting System
Abstract:Globalization is one of the great social processes facing humanity forever. Facing a challenge system, global financial information has called for reliable financial information created by accounting....Globalization is one of the great social processes facing humanity forever. Facing a challenge system, global financial information has called for reliable financial information created by accounting. This leads us to study and implementation of International Financial Reporting Standards (IFRS) for rapid growth of international trade and internationalization of firms, the developments of new communication technologies, and the emergence of international competitive forces is perturbing the financial environment largely. To-date there has been limited research conducted into the effects/implications of IFRS adoption. Thus the present study aims to identify and evaluate the materiality of the impact of IFRS adoption on companies' financial position, performance of the financial year, examine individual standards and its effect on shareholders' equity. This research paper even seeks to contribute to the latest discussions on the financial reporting. It starts out by giving an overview of the IFRS accounting policies, which are currently applied by the majority of participants. We have proposed a model of study to find out the views of Chartered Accountants (CA), Company Secretaries (CS), Post Graduates, Doctorates and ICWA who are mainly concerned with the standards so that their acceptability towards IFRS can be assessed.Read More
Publication Year: 2012
Publication Date: 2012-01-01
Language: en
Type: article
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Cited By Count: 4
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