International Entrepreneurship

International Entrepreneurship

  • Submitted By: pohackz
  • Date Submitted: 06/15/2011 1:49 AM
  • Category: Business
  • Words: 2575
  • Page: 11
  • Views: 485

MAIN PART

1.-INTRODUCTION…………………………………………………………..2 2.-HISTORICAL REVIEW……………………………………………………2 2.1.-WHERE…………………………………………………………………...4 2.2.-STRUCTURE……………………………………………………………..5 3.-PROBLEMS CAUSED BY THE ADOPTION OF IFRS ………………….5 4.-DIFFERENCES BETWEEN IFRS AND STANDARDS OF USA. ……….8 BIBLIOGRAPHY…………………………………………………………….10

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1.- INTRODUCTION.

Today, global capital markets have no boundaries and those involved in such markets should not have barriers to access to financial information of high quality, transparent and comparable information they need to make sound economic decisions. Since 1973, the International Accounting Standards Board (IASB) and its predecessor the International Accounting Standards Committee (IASC), have been working to develop in the public interest, a single set of International Financial Reporting Standards ( IFRS) of high quality, easy to understand and implement, that may be useful to investors in shares, credit institutions and other potential users of such information.

As they are integrated in world capital markets, it becomes apparent logic of a single set of accounting standards. A single set of international standards will increase the comparability of financial information and should make more efficient allocation of capital between countries. The development and acceptance of international standards should also reduce compliance costs for businesses and achieve greater consistency in audit quality.

2.- HISTORICAL REVIEW.

In the area of economic activity the information is of vital importance, therefore, the existence of a common international language for the presentation of financial information, was an inescapable necessity in a globalized market. This new reality has led to the creation of a common accounting standards for all countries, for delivery of financial information in a transparent, understandable and comparable. To meet this objective, the International Accounting Standards Board (IASB) issued...

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