External link to Accounting Standards – Internationalization

Accounting Standards – Internationalization

Introduction There is no controversy in the fact that there should be global standards of accounting for a truly global economy. Financial statements make it essential and underpin the complete system of market and information for the comparability of data available so as to have several benefits like uniformity, cost reduction, integration of data of various regions, better decision making and many more advantages. Reasons […]

External link to The Malaysian Accounting Standards Board Accounting Essay

The Malaysian Accounting Standards Board Accounting Essay

MFRS 101-Presentation of Financial Statements prescribes the footing for presentation of general purpose fiscal statements to guarantee comparison both with the entity ‘s fiscal statements of old periods and with the fiscal statements of other entities. It sets out overall demands for the presentation of fiscal statements, guidelines for their construction and minimal demands for their content. Purpose of fiscal statements Fiscal statements are a […]

External link to Australian Accounting Standards

Australian Accounting Standards

Australian Accounting Standards                  These are the standards according to which listed companies function. All have to abide by and follow the standards applicable to them. These standards vary from income taxes to business combinations, from materiality to revenue. The standard in focus below is related to employee benefits. Employees are a very important part of any business and accounting standard boards make sure that […]

External link to The Overview of International Accounting Standards

The Overview of International Accounting Standards

This paper seeks to write about an overview of international accounting standards. The paper will discuss the nature and purpose of these accounting standards, the makers and users. This will also discuss accrual and cash accounting, as way of explaining the importance of these standards. 2. Analysis and Discussions 2. 1 What is the nature and purpose of these international accounting standards? International Accounting Standards […]

External link to Accounting Standards in China and Australia

Accounting Standards in China and Australia

Until recently, China has used a set of accounting standards that were quite unique in their records.  These standards were the legacy of a socialist period in Chinese history and rather than keeping records of loss and profit for a corporation operating in China, they mainly concerned themselves with keeping track of all of the assets available to the corporation. By not keeping close tabs […]

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