Business, Management and Accounting
3 years ago

International Accounting Standards Revolutionize Inventory Management in Iraqi Economy.

International journal of entrepreneurship
Inventory under the International Accounting Standard and its Applications in the Iraqi Environment
Shoaib Abdulmutallab Ibrahim Al-Hadithi, Hoida Tariq Hussein Al-Dulaimi

Paper Summary

International accounting standards help align local and international accounting practices, aiding companies in entering global markets. By comparing inventory accounting methods, researchers found that international standards provide clearer and more precise guidelines, especially in areas like fair value and inventory valuation. The study highlighted conflicts between local and international accounting practices, particularly in inventory recognition and measurement.