Impact of IFRS on Financial Reporting

This assignment delves into the profound influence of International Financial Reporting Standards (IFRS) on financial reporting. It examines various aspects of IFRS adoption, including its impact on corporate transparency, accountability, fair value measurements, goodwill impairment calculations, and lease accounting under IFRS 16. The provided literature review analyzes academic research and practical applications to understand the complexities and challenges associated with implementing IFRS.