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CHALLENGES IN INTERNATIONAL FINANCIAL REPORTING STANDARD
1
Author(s):
MOHAN KUMAR N
Vol - 7, Issue- 12 ,
Page(s) : 76 - 84
(2016 )
DOI : https://doi.org/10.32804/CASIRJ
Abstract
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.
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