#Accounted synonym free

Our Standards provide information that is needed to hold management to account.

IFRS Accounting Standards strengthen accountability by reducing the information gap between the providers of capital and the people to whom they have entrusted their money. IFRS Accounting Standards bring transparency by enhancing the international comparability and quality of financial information, enabling investors and other market participants to make informed economic decisions.

IFRS Accounting Standards address this challenge by providing a high-quality, internationally recognised set of accounting standards that bring transparency, accountability and efficiency to financial markets around the world. Unpicking this complexity involved studying the minutiae of national accounting standards, because even a small difference in requirements could have a major impact on a company’s reported financial performance and financial position-for example, a company may recognise profits under one set of national accounting standards and losses under another. This patchwork of accounting requirements often added cost, complexity and ultimately risk both to companies preparing financial statements and investors and others using those financial statements to make economic decisions.Īpplying national accounting standards meant amounts reported in financial statements might be calculated on a different basis. In the past, such cross-border activities were complicated by different countries maintaining their own sets of national accounting standards. Investors seek diversification and investment opportunities across the world, while companies raise capital, undertake transactions or have international operations and subsidiaries in multiple countries.

#Accounted synonym free

Modern economies rely on cross-border transactions and the free flow of international capital. More than a third of all financial transactions occur across borders, and that number is expected to grow.

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