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A Comparative Study on IFRS Vs UK GAAP

   

Added on  2020-10-22

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Proposal
A Comparative Study on IFRS Vs UK GAAP_1

Table of ContentsA. Title : “To assess the effectiveness of IFRS pertaining to meet compliance requirements bythe businesses in United Kingdom: A comparative study on IFRS V/s UK GAAP” ....................1B. Introduction and background......................................................................................................1C. Literature Review........................................................................................................................1D. Research Objectives and Questions ...........................................................................................2E. Research design ..........................................................................................................................2F. Data collection and Analysis ......................................................................................................3G. Time-scale ..................................................................................................................................3H. REFERENCES............................................................................................................................7
A Comparative Study on IFRS Vs UK GAAP_2

A. Title : “To assess the effectiveness of IFRS pertaining to meet compliance requirements bythe businesses in United Kingdom: A comparative study on IFRS V/s UK GAAP” B. Introduction and backgroundOver two decades ago, the call for integration within the world of business came to light.Many foundations and organizations were developed in order to confront the spread ofinternational investment activity and cope with its new issues or challenges. These businessesconsisted the International Accounting Standards Board (IASB), International AccountingStandards Committee Foundation(IASCF), Commission of the European Union (EU), theInternational Federation of Accountants (IFAC), Securities and Exchange Commissions (SEC),the International Organization of Securities Commissions (IOSCO) (Dimitras, Gaganis andPasiouras, 2018).. United Nations Intergovernmental Working Group of Experts on InternationalStandards of Accounting and Reporting (ISAR), the Organization for Economic Cooperation andDevelopment Working Group on Accounting Standards (OECD Working Group), the BaselCommittee, the World Bank, and the International Monetary Fund (IMF). For years, thesefoundations have worked effectively towards globalization by issuing, implementing, andencouraging directions in order to evolve a single set of high quality enforceableunderstandable and globally recognized financial reporting standards based upon clearlyarticulated principles. As the world market has become progressively incorporated, enormousdifficulties have raised in the domestic markets, particularly rising markets because of thedeviations in environmental variables including, religious, cultural, social, and local accountingactivities. UK and US on the other hand give more importance to Generally AcceptedAccounting Principles (GAAP), it is mainly rules bases whereas IFRS is based on principles. Inthis research, examiner will identify the effectiveness or pertaining IFRS in order to meetcompliance needs of organisations in UK (d'Arcy and Tarca, 2018).. It will be done throughvarious research methodologies and techniques used for collecting, analysing and interpretingdata or information collected in a research study. C. Literature ReviewInternational Financial Reporting Standards (IFRS) are important standards issues by theIFRS foundation and the international accounting standards board for providing a common goallanguage for affairs related to businesses so that accounts of organisation are comparable and1
A Comparative Study on IFRS Vs UK GAAP_3

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