Business, Management and Accounting
a year ago

Global accounting standards revolutionize financial reporting for multinational firms.

Management Journal for Advanced Research
A Study of Recent Accounting Trends in India's Corporate Sector with Special Reference to International Financial Reporting Standards
Shuchi Gupta

Paper Summary

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Accounting has evolved from using clay tokens to a sophisticated system for tracking financial transactions. The International Accounting Standards Board was established to create global accounting standards, known as International Financial Reporting Standards (IFRS). The goal is to provide uniform financial reports for multinational firms to meet the demands of global financial markets and investors.