Understanding international financial reporting standards (IFRS): a review and evaluation of IFRS research

This paper is centred on the research related to international financial reporting standards (IFRS). IFRS are of great usefulness for countries which do not have a national standards setting body as the preparation of accounting standards involves considerable cost and, it would not be economical for each country to have a separate standard setting process. This research is expected to serve as a guide in understanding the standards reported within the IFRS. The major purpose of this research is to survey the IFRS-related research literature published during the period from 2000 and 2009. The survey suggests that a wide range of topic areas has been covered by the selected research studies. This learning can be incorporated in revising curricula related to international financial reporting.