Summary for IFRS 36 and discussion on advantages and the disadvantages for this standard to investors

July 2022 | 12 pages | ID: S0C5D788A4C5EN
Sadia Saeed

Abstracts

It has been observed that accounting is considered as one of the most important parts of the economies in the entire world. Along with this, the author of the report is aware with its importance in the more sufficient manner. Majorly, it has been found that due to the process of globalization the invention of the IFRS has got the reason to supply the essential guidelines in order to help the companies to prepare their financial statements. As a matter of fact, it has been found that IFRS 36 is mainly adopted in a large number by the countries in the world. Therefore, it is considered as one of the most important system of the accounting standards. The researcher of the study found that particularly with the convergence of the 27 European members of the union that incorporate Australia, New Zealand and mainly South Africa. It has been observed that it is considered as the beginning of the era of harmonization for the standards of accounting in the entire world. This report discusses, Summary for IFRS 36 and discusses advantages and the disadvantages for this standard IFRS 36 to investors in the light of some renown academic articles. (Continued...) wordcount of report: 4000 words

Contents

Introductions:
Discussion:
Cost Concept Application
Fair Market Value Application
Net Realizable Value Applications
References