International Financial Reporting Standards

下面为大家整理一篇优秀的essay代写范文 -- International Financial Reporting Standards，文章讲述国际财务报告准则旨在帮助主体提出结合高质量信息的标准财务报表。国际财务报告准则是在该原则基础上的一系列原则；它只是提供了适用于实体的广泛规则，而不是约束特定业务流程。此外，它向股东和公众提供了有关特定实体的变化和运营绩效的一些信息。主体需要遵守该准则，并且该准则应包含在第一份IFRS财务报表和每份中期财务报告中。

International Financial Reporting Standards
The International Financial Reporting Standards aim to help an entity to put forward a standard financial statement that is combined by high quality information. International Financial Reporting Standards is a series of principles on the basis of the principle; it just provides broad rules for entities to be in accordance with rather than constraints to a specific business process. Furthermore, it provides some information about the changes and operating performance of a specific entity to shareholders and the general public. An entity needs to obey the standard, and it should be contained in the first IFRS financial statements and every interim financial report. If a financial statement is concerned to be identified with IFRS, it should be only used for internal use and the first financial statement that made by the entity. Besides, most of the entities’ financial statement is not consistent with IFRS. Moreover, for all the periods shown in the first IFRS financial statement, the entity should insist in using the same accounting standards. That is to say, there can’t be different version of IFRSs in one report even they were available version earlier. Except for some special condition, the transitional provisions, which are set for those who already choose IFRSs, do not suit for a new adopter. There are some characteristics of IFRS. First of all, recognize all the assets and liabilities of IFRS except those forbid to be so. Secondly, the classification of asset should be reconsidered. Thirdly, the standard should be obeyed during the measurement of assets and liabilities. There is no doubt that when the standard of the entity used changed from GAAP to IFRS, some basic objective information should still keep reconciliation. For example, date of the transition. As a matter of fact, there can also be some adjustment of accounting policies if one entity changes its standard from GAAP to IFRS. Accordingly, the adjustments related to retained earnings should be transferred. Besides, some estimates in GAAP should also be accepted after the transition if there isn’t any error recognized. And if there is, specific explain should be put forward to distinguish the correction of them so that the reconciliation will be protected. What needs to be highlight is that some important estimates such as exchange rate, interest rate and market price at the date of transition should be taken down so that the transition can be reasonable and accurate. If an entity that is a first-time adopter and never ever present a financial statement, it needs to state that on the report. To be short, any facts that shown in the model of GAAP and will result in changes in IFRS should be maintained in the transition of IFRS, which makes the transition more reliable. And the entity should regularly disclose the fair value of every specific classification in detail in the financial statements. And the fair value will be the deemed cost for the following opening IFRS statement. Furthermore, the process of changing the standard from GAAP to IFRS should be explained. This is used to make sure that the way of how the financial condition change and will make the operating of the entity more stable and fair. If an entity needs an interim financial report to make the report more detail, it should be concerned about the requirement that need to obey. Last but not least, the entity should consider about the effective date set by IFRS. 1 July 2009 is a boundary for most of the requirement of IFRS. The requirements can be different on some specific aspects.

51due留学教育原创版权郑重声明：原创优秀代写范文源自编辑创作，未经官方许可，网站谢绝转载。对于侵权行为，未经同意的情况下，51Due有权追究法律责任。主要业务有essay代写、assignment代写、paper代写、作业代写服务。
51due为留学生提供最好的作业代写服务，亲们可以进入主页了解和获取更多代写范文提供作业代写服务，详情可以咨询我们的客服QQ：800020041。