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Category | Other |
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Subject | IFRS Adoption and Implementation in Korea, and the Lessons Learned |
Date | 15 Apr 2013 |
File |
IFRS_Adoption_and_Implementation_in_Korea,_and_the_Lessons_Learned.pdf
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After one year of applying IFRS, Korea now expects to see improved perception of the reliability of Korean entities’ financial statements and enhanced status of Korea in the international accounting community.
A new financial reporting language would be implemented smoothly only when it is accompanied by the unwavering will of the adopting country, reorganisation of the related systems, and strong support from the Foundation.
Thus, it is hoped that this report helps those countries planning to adopt IFRS minimise trials and errors and gives some useful guidance to the IFRS Foundation and IASB in promoting the global proliferation of IFRS.
Next | No.18 The Equity Method |
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