Chapter3discussed the world's marketplaces. One thing that affects this is accounting standards and international business.Do some research regarding IFRS(International Financial Reporting...

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Title: The Implications of IFRS
Contents
Meaning of IFRS    3
Impacts of IFRS    3
United States and IFRS    3
Works Cited    5
Meaning of IFRS
    International Financial Reporting Standards (IFRS) are the set of rules that originations tend to follow with a view to present their accounts. In fact, the main objective behind developing IFRS norms is to provide organizations platforms where they can make educated decisions about showing efficacy in their account management. IFRS are the norms that IASB issues in favor of the organizations to guide them through the process of how to maintain fairness in their accounts. One of the major features of UFRS is to make sure that there is a common language used for accounts which organizations can use to show consistency in terms of maintaining their accounts. There is a universal acceptance of this language which is easy and hassle free to be used. In global context when business operations are becoming typical to manage day after day, the publication of the rules like IFRS gives positivity to the business organizations to sustain their accounting standards.
Impacts of IFRS
    As per the observation of the rules set by IFRS,...