The Pros and Cons of Adopting IFRS by Lei Shi
International Financial Reporting Standards (IFRS) is a set of accounting standards developed by the International Accounting Standards Board (IASB). IFRS has been adopted by more than 12,000 companies in over 100 nations and is becoming the global standard for the preparation of financial statements of public companies throughout the world. However, in the U.S., GAAP (General Accepted Accounting Principles) is applied. Recently, the G20 leaders have called for significant progress towards moving to one set of high-quality global accounting standards. [...]
Need to Converge from IGAAP to IFRS
Piron proudly takes the responsibility of creating IFRS awareness and providing end to end services in IFRS expertise with Piron – education, consulting and BPO to meet all possible requirements. PIRON presses the need to converge from IGAAP to IFRS as it holds significant business implications. Consistent, comparable and understandable financial information is the lifeblood of commerce and investing. Presently, there are many sets of reporting standards applicable in different parts of the world. In search of a new financial [...]
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