International Accounting Standards

To further protect your online security, active links from Q&A has been disabled!

I M ACCOUNTANT , I NEED RECENT INTERNATIONAL ACCOUNTING STANDARDS TO IMPROVE MY WORKING.

Best Answer

Now its IFRS- International Financial Reporting Standards previously there were the GAAP(General Accepted Accounting Principles) in USA/Canada!!! Info on the following links: www.ifrs.com www.ifrs.co.uk www.iasb.org

i want to know the different accounting standards which are used for keeping books of accounts or which r used for auditing purposes.

Best Answer

http://www.sec.gov/rules/concept/34-42430.htm http://www.iasb.org/standards/index.asp

well, actually there are lots of accounting standards, and it's actually different from one country to another, do you think harmonization is the solution ? is there any pros and cons about this? does harmonization currently work and accepted in many countries? can you give me the reasons.. i'm an undergraduate in accounting,so using economics language would be okay. thanks

Best Answer

I think it is great. I work for a "Big Four" accounting firm and I know that we have internal standards that we use as a means to work within US GAAP and still meet other contries rules and regulations.

IASB always eliminate standards and provide us with another...

Best Answer

It woudl be nice as most corporations are international compnaies however who would enforce the standard?

Best Answer

Basic difference is the currency they use.. dollars, rupee, euro.. regards..