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International Financial Reporting Standards (IFRS): Pros and Cons for Investors

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Added on  2021-06-14

International Financial Reporting Standards (IFRS): Pros and Cons for Investors

   Added on 2021-06-14

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Running head: IFRS-PROS AND CONS FOR INVESTORSInternational Financial Reporting Standards (IFRS): Pros and Cons for InvestorsName of the Student:Name of the University:Author Note:
International Financial Reporting Standards (IFRS): Pros and Cons for Investors_1
2IFRS-PROS AND CONS FOR INVESTORSTable of ContentsIntroduction................................................................................................................................2Focusing on major implications of International accounting from their selected paper............2Conceptualizing and focusing contribution on how selected topic align with Internationalaccounting topic.........................................................................................................................4Conclusion..................................................................................................................................6Reference List............................................................................................................................7
International Financial Reporting Standards (IFRS): Pros and Cons for Investors_2
3IFRS-PROS AND CONS FOR INVESTORSIntroduction The selected paper for this study explain about the pros and cons for investors inregard to International Financial Reporting Standards (Utama, Farahmita and Anggraita2016). This paper was published on September 2005 and is based on the PD Leake Lecture. Itcan be seen that accounting had been driven through economic as well as political forces. Inthis study, pros and cons of IFRS are mentioned and this is somewhat conjectural by nature.By explaining advantages of IFRS, it can be considered that extraordinary success had beenachieved in developing a comprehensive set of high quality International Financial ReportingStandards that include almost 100 countries who shows interest in adopting them and inobtaining convergence in standards with significant non-adopters. By explaining thedisadvantages of IFRS, it can be considered that there are several issues linked with thecurrent fascination of the IASB as well as FASB standards with fair value accounting. Bythat, it is understood that are substantial differences noted among the countries who areengaged in implementation of IFRS that is now at risk as concealed by a veneer ofuniformity. Therefore, it can be seen that uniform standards should be implemented as it willhelp in producing uniform financial reporting that seems quite immature (Trajkovska,Temjanovski and Koleva 2016). Focusing on major implications of International accounting from their selected paperInternational Financial Reporting Standards is one of the standard that had becomeforefront on the immediate agenda as it had started its commencement from 2005. It is fromthis time when listed companies in Europe Union countries showed interest in having thisreport based on consolidated financial statements as prepared according to InternationalFinancial Reporting Standards (Persons 2014). In addition to that, most of the companies areinvolving for the release of their first full-year IFRS compliant with the financial statements.
International Financial Reporting Standards (IFRS): Pros and Cons for Investors_3

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