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Therefore, International Accounting Standards Board would like to create an International Financial Report Standard to make investors and publics to confidence in the new standard, more efficiency than GAAP, and suitable format with the factory in present and force every company that would like to trade within European Union to use this standard for present in true and fair information of accounting and financial report to investors. I think that if new standards (IFRS) are suitable format for accounting statement so that financial report will have a good quality because financial report needs to bring number from accounting statement to calculate with their formula and interpretation to make investors or reader understand the mean of that. Based on, Business Week Online (2008) about 'How to Fix Financial Report' Finance minister from the 20 wealthiest countries have discuss about the effect from the toxic of credit crisis. Thence, investors are not trust in the financial report information that is show in market because they think that the information is not complete and accurate.

Thus, IFRS must to concern more about the transparency and disclosure within a main point to make financial report look more efficient and confidence from investors and publics. So I would like to compare between the GAAP and IFRS about that point transparency and disclosure. After that I would like to present advantages of IFRS to solve many problems about transparency and disclosure. Moreover, I would like to present about the advantages of IFRS for investors and fair value.

The good financial statement figures data would be completeness and explain information to delicate within high quality data of financial report. There was affect to transparency and reliability of financial report of business. Although nowadays many companies find to gain the benefit to them by using gap of standard to cheat and present fake information to publics that they can do in many way.

First, I would like to select about off balance sheet, before they have a standard in the past the company will set up their own regulation to do the accounting and financial statement after that United States was set up standard and announced to global to used GAAP. However, this standard has more gaps to cheat at balance sheet, before to explain about off balance sheet, as this report will explain the mean of balance sheet is a statement show among total asset enough liabilities plus capital and provide full disclosure in the context of financial. According to, Elliott and Elliott (2008) they said that off balance sheet is the descriptive phase for all finance arrangement: where strict recognition of legal aspect of the individual contract results in the exclusion of liabilities and associate asset from balance sheet. The company has used off balance sheet for make income statement of company look better than reality, do not record liabilities that may expect and arise, create transaction to subtract the debt from the account, conceal obligation in current such as leasing, take or pay contract, provident funds, pension fund and other.

There are many cases in past to gain opportunities to cheat on balance sheet by using GAAP to present fake information. One case of off balance sheet is an accounting scandal of Enron's company本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。