The large variety of uses that accounting products take, as well as their wide range of informational needs require that certain criteria be established, with regards to the quality of accounting data, and these criteria must be fully met. The concept of

The main purpose of evaluation is to determine the financial position and the outcome of the entity’s activity. With the intensification of the phenomena of globalization of economies and financial markets and the emergence of phenomena such as inflation, it began to be more often used the...

The International Accounting Standards Board issued the International Financial Reporting Standard 8 Operating Segments. Segment information is one of the most vital aspects of financial reporting for investors and other users. The IFRS 8 requires an entity to adopt the ‘management approach’...

The International Accounting Standards Board issued the revised version of the International Accounting Standard 2, Inventories. This article presents a closer look of standard (objective, scope, definitions, measurement and disclosures.

The International Accounting Standards Board issued the revised version of the International Accounting Standard 8, Accounting Policies, Changes in Accounting Estimates and Errors. The objective of IAS 8 is to prescribe the criteria for selecting, applying and changing accounting policies,...

The International Accounting Standards Committee issued the the International Accounting Standard 7, Cash Flow Statements. The objective of IAS 7 is to require the presentation or provision of information about the historical changes in cash and cash equivalents of an enterprise by means of a...

The article explains the status of adoption of IFRSs in the major countries of the world. Study of the strategy adopted by other nations in convergence with IFRS can teach valuable lessons to ensure that convergence as envisaged in India becomes a reality as per the schedule.

The International Accounting Standards Committee issued the the International Accounting Standard 19, Employee Benefits. The objective of IAS 19 is to is to prescribe the accounting and disclosure for employee benefits (that is, all forms of consideration given by an enterprise in exchange for...