The article compares International Accounting Standards (IAS) with Taiwan's Financial Accounting Standards to understand the differences and benefits for global operations. It discusses the importance of having common worldwide accounting standards due to the rise of multinational enterprises and globalization of capital markets. While U.S. GAAP has a strong historical background, there is a shift towards IAS / IFRS principles. This shift is driven by the need for a common set of accounting standards for investors in international markets. Overall, IAS / IFRS plays a significant role globally by considering differences in accounting standards between countries.