Implementation of international financial reporting standards (IFRS) and their impact on economic growth

Gorgieva-Trajkovska, Olivera and Miteva-Kacarski, Emilija (2011) Implementation of international financial reporting standards (IFRS) and their impact on economic growth. In: Economics and Management in the 21-st century-Solutions for Sustainability and Growth. Tsenov Academic Publishing House, Svishtov, Svishtov, Bulgaria, pp. 53-61. ISBN 978-954-23-0678-89 (t.2)

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Abstract

The confidence in the transparency and integrity of financial reporting is critically important to global financial stability and sound economic growth. The global financial crisis has led many economic and financial market participants to reexamine their governance, practices, and standards. Effective financial reporting depends on high quality accounting standards as well as the consistent and faithful application and rigorous independent audit and enforcement of those standards. Because of the global nature of the financial markets, it is very important to achieve a single set of high quality, globally converged financial reporting standards that provide consistent, transparent and relevant information, regardless of the geographical location of the reporting entity. Key words: financial reporting, international accounting standards, implementation, economic growth Jell classification: M41

Item Type: Book Section
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Economics
Depositing User: Olivera Trajkovska
Date Deposited: 26 Nov 2012 09:03
Last Modified: 26 Nov 2012 09:03
URI: http://eprints.ugd.edu.mk/id/eprint/1793

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