logo

Objectives of Developing International Accounting Standards

10 Pages858 Words89 Views
   

Added on  2023-01-19

About This Document

This presentation discusses the objectives of developing International Accounting Standards (IAS) and their impact on organizations. It also identifies and explains relevant IAS applied to specific financial situations. Additionally, it examines the key features of international finance and the major institutions involved in the international financial environment.

Objectives of Developing International Accounting Standards

   Added on 2023-01-19

ShareRelated Documents
International Finance
TASK 1
Objectives of Developing International Accounting Standards_1
Describing and assessing the objectives of developing
International Accounting Standards
International accounting standards : It is an older accounting standard which was
replaced in 2001 by the international financial reporting system. It was issued by IASB
(international accounting standard board). The goal of the standard it is to compare the
business in the global market with the other businesses. It increases the transparency and
accuracy of the financial statements.
Objectives of IAS
To develop the standard to check the accuracy and transparency of the data of the
company and help the stakeholders to evaluate the information.
To present the financial information and statements by using the standards for the
worldwide acceptance.
To regulate the accounting transaction and activities and improve them to get the higher
profit and market share.
Objectives of Developing International Accounting Standards_2
Identifying and explaining the relevant International
Accounting Standards which are applied to specific
financial situations
Different international accounting standard
There are various accounting standard which are used for the treatment of different
financial transaction such as valuation of inventory, current assets, non current assets etc.
Luxury chocolates Ltd. Company use the various international accounting standard for
valuation of inventory, current assets and liability, non current assets etc.
Valuation of inventory : IAS 2
Valuation of non-current assets : IAS 16
Objectives of Developing International Accounting Standards_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
International Finance Assignment : Luxury chocolates Ltd
|12
|2740
|58

International Finance
|16
|712
|50

International Finance: Objectives of International Accounting Standards, Relevant Accounting Standards, Features of International Finance
|18
|818
|55

Report on International Finance 2022
|15
|3056
|21

International Finance Assignment Solution (Doc)
|12
|3419
|106

(Solution) Financial Accounting Assignment
|10
|2802
|179