Article thumbnail
Location of Repository

Transition to internatioanl financial reporting standards – needs and problems

By Olivera Gorgieva-Trajkovska, Aleksandar Kostadinovski and Blagica Jovanova


Abstract The efforts for successful conversion to International Financial Reporting standards (IFRS) are characterized by a thorough strategic assessment, creation of a robust step-by-step plan, alignment of resources to the efficient execution of the plan, and smooth integration of the change into normal business operations. In a business-wide conversion, all departments that contribute to the creation of financial information, or that use financial information in their daily activities, should be involved. The existence of a global benchmark enables direct comparison of corporate financial reports between jurisdictions. Such high-quality standards enhance investor’s confidence by allowing economic transactions of a similar nature to be treated and reflected in the same manner around the globe. Key words: conversion, international standards, accounting, problem

Topics: Economics and business
Publisher: University of Burgas
Year: 2012
OAI identifier:
Download PDF:
Sorry, we are unable to provide the full text but you may find it at the following location(s):
  • (external link)
  • Suggested articles

    To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.