1 Abstract
In a financial/securities regulating world, accounting reporting provides useful
information to both the decision makers and financial regulators. As a result, as
the business environment changes, so do the accounting standards that govern
the disclosure/reporting of financial information. In a globalised economy, international accounting standards1 are certainly central to such concept.
International accounting standards were first developed in the 1960s. That said,
the evidence suggests that, international accounting standards did not reach their
zenith of importance until today. Indeed, it has taken nearly 20 years for the
international accounting standards to reach their zenith in the financial/securities
markets.
1 Abstract In a financial/securities regulating world, accounting reporting provides useful information to both the decision makers and financial regulators. As a result, as the business environment changes, so do the accounting standards that govern the disclosure/reporting of financial information. In a globalised economy, international accounting standards1 are certainly central to such concept. International accounting standards were first developed in the 1960s. That said, the evidence suggests that, international accounting standards did not reach their zenith of importance until today. Indeed, it has taken nearly 20 years for the international accounting standards to reach their zenith in the financial/securities markets.
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