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The New Accounting Standards Implementation In Australia

This paper reviews about Implementation of IFRS as Australia decided to adopt it in 2005. Besides its advantages, the adoption also generates several costs. In the short term, business and accounting practices suffered in several areas. Meanwhile, in the long terms it could be a large number of advantages that can not be measured by early year sacrifice. Convergence of business practices, government, and accounting profession functions will make transition progress easier to handle.

Bibliography

BARTH, M. E. (2008) International Accounting Standards and Accounting Quality.(Report). Journal of Accounting Research, 46, 467.
BROWN, P. & TARCA, A. (2007) Achieving high quality, comparable financial reporting: A review of independent enforcement bodies in Australia and the United Kingdom. ABACUS-A JOURNAL OF ACCOUNTING FINANCE AND BUSINESS STUDIES, 43, 438-473.
SECURITIES AND EXCHANGE COMMISSION (2008) 17 CFR Parts 210, 230, 239 and 249 Acceptance From Foreign Private......


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Approximate Word Count: 301
Approximate Pages: 2 (250 words per double-spaced page)

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