IAS

Aims of International Accounting Standards
"You can't do business globally and use provincial accounting standards." This
quote from a member of a German bank's Managing Board reflects the concerns
being expressed by institutions from many countries that are united in the IASC
(International Accounting Standards Committee). In a world of global enterprises
and global capital markets, where people can access the information they need
anywhere in the world online and on time, the biggest problem is a lack of
transparency and comparability of information. The main objective of International
Accounting Standards (IASs) is therefore to provide a global standard for drawing
up annual financial statements in line with the general aims mentioned above.
In addition to the international focus of these standa...