International Accounting Standards and Rules
Many countries use or are converging on the International Financial Reporting Standards (IFRS), established and maintained by the International Accounting Standards Board. In some countries, local accounting principles are applied for regular companies but listed or large companies must conform to IFRS, so statutory reporting is comparable internationally, across jurisdictions.
Read more about this topic: Generally Accepted Accounting Principles
Famous quotes containing the words accounting, standards and/or rules:
“I, who am king of the matter I treat, and who owe an accounting for it to no one, do not for all that believe myself in all I write. I often hazard sallies of my mind which I mistrust.”
—Michel de Montaigne (1533–1592)
“With his brows knit, his mind made up, his will resolved and resistless, he advances, crashing his way through the host of weak, half-formed, dilettante opinions, honest and dishonest ways of thinking, with their standards raised, sentimentalities and conjectures, and tramples them all into dust. See how he prevails; you don’t even hear the groans of the wounded and dying.”
—Henry David Thoreau (1817–1862)
“A man often thinks he rules himself, when all the while he is ruled and managed; and while his understanding directs one design, his affections imperceptibly draw him into another.”
—François, Duc De La Rochefoucauld (1613–1680)