International GAAP 2021

Chapter 1International GAAP

• 1 WHY INTERNATIONAL FINANCIAL REPORTING STANDARDS MATTER
• 2 THE IFRS FOUNDATION AND THE IASB
  • 2.1 The standard-setting structure
  • 2.2 The IFRS Foundation
  • 2.3 The Monitoring Board
  • 2.4 The International Accounting Standards Board (IASB)
  • 2.5 The IFRS Interpretations Committee (the Interpretations Committee)
    • 2.5.1 Agenda decisions
  • 2.6 The Due Process Handbook
  • 2.7 The IFRS Advisory Council (the Advisory Council)
  • 2.8 Accounting Standards Advisory Forum (ASAF)
  • 2.9 Other advisory bodies
• 3 THE IASB'S TECHNICAL AGENDA AND CONVERGENCE WITH US GAAP
  • 3.1 The IASB's current priorities and future agenda
  • 3.2 IFRS/US GAAP convergence
• 4 THE ADOPTION OF IFRS AROUND THE WORLD
  • 4.1 Worldwide adoption
  • 4.2 Europe
    • 4.2.1 EU
      • 4.2.1.A Endorsed IFRS standards
      • 4.2.1.B Evaluation of the Regulation
    • 4.2.2 Russia
    • 4.2.3 United Kingdom
  • 4.3 Americas
    • 4.3.1 US
    • 4.3.2 Canada
    • 4.3.3 Brazil
  • 4.4 Asia
    • 4.4.1 China
      • 4.4.1.A Mainland China
      • 4.4.1.B Hong Kong
    • 4.4.2 Japan
    • 4.4.3 India
  • 4.5 Australia
  • 4.6 South Africa
• 5 CONSISTENCY IN APPLICATION OF IFRS
• 6 SUMMARY

Chapter 1International GAAP

1 WHY INTERNATIONAL FINANCIAL REPORTING STANDARDS MATTER

With globalisation has come the increasing integration of world markets for goods, services and capital – with the result that companies that traditionally were reliant on their domestic capital markets for financing now have substantially increased access to debt and equity capital, both inside and outside their national borders.