This paper explores the evolution and significance of financial accounting standards and reporting practices. It delves into the historical context of accounting standards, tracing their development from early accounting principles to the current International Financial Reporting Standards (IFRS). The abstract highlights the importance of these standards in ensuring transparency, comparability, and reliability of financial information. It also examines the impact of reporting practices on stakeholders, including investors, creditors, and regulators. The paper further discusses the challenges faced in maintaining and updating accounting standards to adapt to changing economic conditions and business practices. Additionally, it evaluates the role of regulatory bodies in fostering compliance with these standards and the potential implications of global convergence on domestic accounting practices.
White, M. (2021). Financial Accounting Standards and Reporting Practices. International Review of Business & Management, 3(1), 17. doi:10.69610/j.irbm.20210315
ACS Style
White, M. Financial Accounting Standards and Reporting Practices. International Review of Business & Management, 2021, 3, 17. doi:10.69610/j.irbm.20210315
AMA Style
White M. Financial Accounting Standards and Reporting Practices. International Review of Business & Management; 2021, 3(1):17. doi:10.69610/j.irbm.20210315
Chicago/Turabian Style
White, Michael 2021. "Financial Accounting Standards and Reporting Practices" International Review of Business & Management 3, no.1:17. doi:10.69610/j.irbm.20210315
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ACS Style
White, M. Financial Accounting Standards and Reporting Practices. International Review of Business & Management, 2021, 3, 17. doi:10.69610/j.irbm.20210315
AMA Style
White M. Financial Accounting Standards and Reporting Practices. International Review of Business & Management; 2021, 3(1):17. doi:10.69610/j.irbm.20210315
Chicago/Turabian Style
White, Michael 2021. "Financial Accounting Standards and Reporting Practices" International Review of Business & Management 3, no.1:17. doi:10.69610/j.irbm.20210315
APA style
White, M. (2021). Financial Accounting Standards and Reporting Practices. International Review of Business & Management, 3(1), 17. doi:10.69610/j.irbm.20210315
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References
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