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)
“Today so much rebellion is aimless and demoralizing precisely because children have no values to challenge. Teenage rebellion is a testing process in which young people try out various values in order to make them their own. But during those years of trial, error, embarrassment, a child needs family standards to fall back on, reliable habits of thought and feeling that provide security and protection.”
—Neil Kurshan (20th century)
“This was Pharaoh, direct descendent of our deity Amon, god of the sun, who rules the heavens as Pharaoh rules the earth. Again, he brought treasure, gold, and precious jewels taken from our enemies. For to Pharaoh riches were power and power was to be desired. And also again he brought many captives. For is it not by slaves that one becomes even richer and then has even more power?”
—William Faulkner (1897–1962)