Managing the company requires a higher degree of standardization of processes, decision-making, decisionmaking, application of standard operating methods in companies, the use of international accounting standards, the
standard of international financial reporting, and many other forms of business that can improve business operations
and manage the company.
There are numerous advantages for the top management of companies especially for those who have decided
to apply the International Accounting Standards in everyday business in the accounting and financial sector of
enterprises primarily, and then in other parts of the company. Their implementation allows for realistic financial
reporting, which is extremely important for making a timely decision regarding strategic decision-making in an
enterprise. This is particularly true for countries in transition, as well as for those countries that have not applied more
widely to international accounting standards in regular and continuous business.
The application of international accounting standards as well as the application of international financial
reporting standards can lead to positive results and the enterprise can realize multiple benefits, especially if the
company fully applies fair reporting in its business to top management but also towards the owners of the company or
the founders of the compan
