Ifrs

Development of be Standards and IFRS Adoption in Korea Lee Jung-Kwon 20113433 Choi Yun-Seong 20113443 Ahmad Al-ghamdi 20113426 Bermet Kanybekova 20113658 Paek Soo-Jeong 20123515 Principles of score 2012 Team Project Professor Kim Yu-Ra November 27 2012  Introduction precedent to the closing curtain of World War II, the economic communicate around the area has been limited to only European and the American markets. The gap amidst the two major markets, Atlantic Ocean, was another drawback considering the primal means of colloquy between the two continents. Followed by the discontinue of WWII, 1930s, the world suffered the Great Depression where decline of world rescue struck the advanced nations. Despite the downswing in the economy, the orb was reintegrated since the 1940s. With the major comeback of key players, the film for uniformed bill standards was brought up. While the concept was not more or less (prenominal) new for the participants in the market, the nations struggled in order to gain intensity over the standards. In the 1950s the convergence of accounting standards was in horrific train than ever.

Following with the economic integration, mass international great(p) flow was vital in the metropolitan cities, such as London and New York. The eighth International Congress of Accountants held by American Institutes of Certified Public Accountants (AICPA) in 1962 emphasized the harmonisation of accounting standards. In 1971, International Accounting Standard committee (IASC) was established in Londo n in chemical chemical reaction to demand ! for apparent harmonization. The committee was composed of Australia, Canada, the joined Kingdom, the join States and others, Japan as the only Asian nation, totaling up as 9 states. With the growing influences, 104 nations joined the committee as of 2001, its alteration to International Accounting Standard Board (IASB). The precedent of IASC was the IASB which was to support...If you look at to get a full essay, order it on our website: OrderCustomPaper.com

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