Introduction
The IFRS are accounting standards, rules and principles that were introduced by an independent organization in the United Kingdom, known as the International Accountants Standards Board. The institution puts forward that the standards would better serve public companies worldwide than the local standards in the country due to the aspect of comparability, transparency and economic growth. There are several countries that have adopted the IFRS over the recent years. The transition to IFRS for the companies in these countries has considerable costs. There are technical and training costs that are incurred that may cause several companies to be cautious ...
