Chetan Suri
<p>Over the past years Cross border transactions trade and flow of international capital has grown remarkably, completely transforming the global economy, ultimately gave rise to highly competitive market.</p> <p>Understanding this transformation is as important as understanding the importance of financial information interpretation and presentation.</p> <h1>IFRS - Why so Important?</h1> <p> </p> <ul style="list-style-type:circle"> <li>Encouraging Investment Opportunities :</li> </ul> <p style="margin-left:.5in">Financial statements prepared using IFRS – Globally accepted accounting standards help investors in better understanding of investment opportunities as compared to financial statements prepared using a different set of national accounting standards.</p> <ul style="list-style-type:circle"> <li>Comparability of financial statements of any two companies anywhere in the world.</li> <li>Same language helps in better undertanding of competetion and hence strengthen our business.</li> <li>Better ability to attract more clientele.</li> <li>Increasing the confidence of users of financial statements.</li> <li>Facilitates ethics compliance</li> <li>It creates more flexibility for the management to take decisions instead of following rules and principles.</li> <li>For multinational companies : <ul> <li>Consolidation of group financials made easier.</li> <li>Access to International funds made easier.</li> <li>Accounting and Audit function made easier.</li> <li>Compliance with capital markets worldwide made easier.</li> <li>Mergers & Acquisition made easier</li> </ul> </li> </ul> <p style="margin-left:1.0in"> </p> <p>Even a small difference in requirements could have a major impact on a company’s reported financial performance and financial position – Make Wise decision and <strong><em><u>Go global with IFRS</u></em></strong></p>
Go Global with IFRS