Intermediate Accounting: IFRS Edition, 3rd Edition Class Notes

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CHAPTER 1Financial Reporting and AccountingStandardsLEARNING OBJECTIVES1.Describe the growing importance of global financial markets and its relation tofinancial reporting.2.Identify the major financial statements and other means of financial reporting.3.Explain how accounting assists in the efficient use of scarce resources.4.Explain the need for high-quality standards.5.Identify the objective of financial reporting.6.Identify the major policy-setting bodies and their role in the standard-settingprocess.7.Explain the meaning of IFRS.8.Describe the challenges facing financial reporting.

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Accounting

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Intermediate Accounting by Gareth R...

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