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:
“At the crash of economic collapse of which the rumblings can already be heard, the sleeping soldiers of the proletariat will awake as at the fanfare of the Last Judgment and the corpses of the victims of the struggle will arise and demand an accounting from those who are loaded down with curses.”
—Karl Liebknecht (1871–1919)
“As long as our people quote English standards they dwarf their own proportions.”
—Ralph Waldo Emerson (1803–1882)
“... a large portion of success is derived from flexibility. It is all very well to have principles, rules of behavior concerning right and wrong. But it is quite as essential to know when to forget as when to use them.”
—Alice Foote MacDougall (1867–1945)