"International accounting standards are ‘unusable" from an investor's viewpoint and make ‘global allocation of capital more complex instead of simplifying it". Chief financial officers at large listed entities say. Millions of dollars have been spent adopting international financial reporting standards to help investors make like-for-like comparisons between companies in global capital markets. But CFO's say they are useless and have driven financial disclosures to unmanageable levels.
International financial reporting standard (IFRS) issued by the international accounting standard board (IASB) became a benchmark for the accounting world. IFRS can be explained as a set of international accounting standards that shows the basis of reporting in financial statements".
Content of report
• Introduction of international financial reporting standard.
• IASB conceptual framework perspective of users and their decisions.
• IASB conceptual framework not satisfied by companies
• Opinion
• Recommendations
• Conclusion
• References
In our research we had gone through all the benefit of IASB conceptual framework for the investors and as well as for their needs.