International Financial Reporting Standards and its Impact on Management and Decision Making Student’s Name Institutional Affiliation Abstract As the global economy grows Organizations around the world continue to realize the necessity of business across physical borders. A standard was designed to facilitate accounting information globally. The International Financial reporting standard widely referred to as IFRS is a set of specifications developed by the IFRS Foundation in collaboration with the International Accounting Standards Board. The IFRS facilitates a uniform method of conducting operation within companies internationally. This paper explores the IFRS standard and the effect it has on decision making at the management level. It dissects IFRS from previous diverse accounting rules that were employed domestically especially in the USA called the Generally Accepted Accounting Principles (GAAP). Research points out that IFRS has had an impact in over 17 European countries and even beyond their borders. The paper further looks IFRS for SMEs: evidence from Turkey. Accounting & Management Information Systems/Contabilitate si Informatica de Gestiune 13(3). Kudrna Z. & Müller P. (2017). Harmonizing Internationally to Harmonize Internally: Accounting for a Global Exit from the EU's Decision Trap. JCMS: Journal of Common Market Studies 55(4) 815-831. Lantto A. M. (2014). Business involvement in accounting: A case study of international financial reporting standards adoption and the work of accountants. European Accounting Review 23(2) 335-356. Muller A. R. Pfarrer M. D. & Little L. M. (2014). A theory of collective empathy in corporate philanthropy decisions. Academy of Management Review 39(1) 1-21. Ramanna K. & Sletten E. (2014). Network effects in countries' adoption of IFRS. The Accounting Review 89(4) 1517-1543. Trillo C. & Petti L. (2016). A novel paradigm to achieve sustainable regeneration in historical centres. Wagenhofer A. (2014). The role of revenue recognition in performance reporting. Accounting and Business Research 44(4) 349-379. [...]
Looking for a 10-12 page paper in APA format on the subject of International Financial Reporting Standards and it's impact on Management Decision Making. Must include at least 6 sources from peer reviewed articles. Further description will be given on accepted assignment. Need completed with in 24 hours.