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)
“The things a man has to have are hope and confidence in himself against odds, and sometimes he needs somebody, his pal or his mother or his wife or God, to give him that confidence. He’s got to have some inner standards worth fighting for or there won’t be any way to bring him into conflict. And he must be ready to choose death before dishonor without making too much song and dance about it. That’s all there is to it.”
—Clark Gable (1901–1960)
“Logic teaches rules for presentation, not thinking.”
—Mason Cooley (b. 1927)