国际财务报告准则在新加坡的应用(英文版).docxVIP

A?discussion?about?application?of?International?Financial?Reporting?Standards?in?Singapore IntroductionThe problem of international economic accounting has become increasingly prominent with the development of multinational companies and the appearing of major regional economies in recession. It is becoming remarkable for International Financial Reporting Standards (IFRS) to solve the problem as a coordination solution. And because of the IFRS, making a country’s financial reporting standards in the accounting practice is not only confined to a countrys scope, but expanding to the wide range of international.In the rise of multinational corporations with the development of international trade, the requirements of comparability of financial information would cause three problems of financial accounting: the consolidated financial statements, the foreign currency conversion as well as the price changes of accounting. They are also the three problems of international accounting. In addition, the tax system and tax law are different among countries to?a?certain?degree.All of these, a?unified standards are needing (Jamal Tan, 2008). A global unified accounting standards applied to the company will benefit the enterprise at the aspect of decreasing the cost of enterprise guidelines to follow and the cost of user analysis. Furthermore, it also helps to decrease the chance of financial maneuver maliciously of enterprise and improve the efficiency of global market regulation. However, the building of unified standards is not so easy. There are many factors of influence should be considered, such as the political、economic、social、cultural、geographic and so on. At the meantime, the establishment of a unified criterion is controversial in the present. According To Information Statistics, there have already 138 countries adopted the International Financial Reporting Standards (IFRS). Besides those countries, there are also more and more countries approaching to the International