Firstly we consider the relevance of international accounting throughout the history and its need. Then proceeds to examine the benefits of implementing international standards. Finally we will conclude that there are significant obstacles to accounting harmonization and the current situation of implementing IAS by 2005.

The move towards international accounting system has been traced in 1492 when the Italian government decide to create a doubl

Moreover, it has been feared that adoption of international standards may create standards overload. Corporation must respond to an ever-growing array of national, social, political and economic pressures and are hard put to comply with additional complex and costly international requirements. Still others argue that there is no well-developed international capital market that has grown rapidly in recent years without global GAAP.

for the two to be more closely linked and even merged. A recent review commissioned by the 8 countries, which provide the bulk of IFAC/IASC funding into the IFAC/IASC organisational arrangement, accepted the status while urging IFAC & IASC to seek the long-term objective of becoming one bodies.

Some topics in this essay:
Ian Wright, PWeetman PGordon, Introduction Accounting, Stock Exchange, RH Parker, International Standards, IFAC IASC, Accounting Standards, Standards IAS, Robert Half, international accounting, accounting standards, international accounting standards, international standards, financial reporting, accounting system, capital market, international capital, financial statement, financial statements, water house coopers, benefits international, price water house, international capital markets, mueiler 1984 473,