英语论文网

这篇文章是我最后15%的课程代替对当代问题的财务报告模块的讨论，将讲述国际财务报告准则对实践报告的影响。本文将不仅强调国际财务报告准则是什么，也将谈论国际财务报告准的需求，优点和缺点。既阐述这个标准的当前状态，但也描述对目前的报告实践的影响。

世界各地的会计准则已跟随百年的企业和资本市场扩张不断调整。以这种方式，会计准则在历史上的目的是为了满足每个国家的资本市场的需求。在法律、文化、政治和经济背景下，每一个国家都为特定的统治建立了这些标准，成为“公认会计原则”或GAAP。从逻辑出发，每个国家的不同的规范导致了不同的通用会计准则。全球化的不断变化，给这些“遗留系统”提出了挑战。互联网的全球化，电子支付，软件系统和货运的全球规范奠定了的全球统一系统的潜在价值。

Impact Of Ifrs On Reporting Practices

This essay is in lieu of 15% of our final coursework towards the module of Contemporary Issues in Financial Reporting and will Discuss the impact of IFRS on reporting practices. The essay will not only throw light on what the International Financial Reporting Standards are but will also talk about the standards before IFRS 8, the need, advantages, disadvantages, the current state of this standard but also the impact on current reporting practices.

Accounting standards around the world have progressed over centuries of business and capital market expansion. In this manner, accounting standards historically were intended to meet the needs of each nation's capital markets. Those standards that were created to work well in the legal, cultural, political and economic context of each nation became the 'universally accepted accounting principles,' or GAAP, for that particular dominion. Logically, different norms in each nation led to different GAAPs in each nation. The growing changes of globalization offered a challenge to these 'legacy systems.' Global conventions for the Internet, electronic payments, software systems and cargo shipping established the potential value of uniform global systems. A discussion began among market contributors over whether the global capital markets were likely to benefit by having a single set of high-quality accounting standards that could be useful around the world. In order to create a constant global system for financial reporting, the IASB was formed to function as the global accounting standard-setting body. In 2001, the IASB propagated the first replication of IFRS, offering the possibility of a single set of high-quality accounting standards that can be utilized by all nations. The IFRS (international accounting standard) agrees upon certain ways in which transactions and events need to be reported in the financial statements. In contrast to the GAAP, IFRS is based upon principals rather than hard-set rules. It is essential for any listed company to follow international financial reporting standards for various reasons that will be discussed in this essay. In todays fast pacing world, it is necessary to comply with foreign reporting requirements for the reason that it will help modernize any companies financial reporting. Moreover, IFRS will aid the company minimize costs with the outcome of common reporting system, steadiness and uniformity in legal reporting matters. Secondly, adoption of IFRS would permit companies in creating benchmarks in comparison to foreign competitors. It would allow the corporations to have an edge over its opponent firms in the eyes of the investors. With the need for IFRS, it would be of ease to generate international mergers, acquisitions and joint ventures. Fourthly, the organizations can trade in securities and shares on the stock exchange throughout the world.

With the convergence of IASB wit