Influence IAS on IT Systems

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International Accounting Standards Knowledge Center

Best Practices Sign up Praveen Analyst, India Influence IAS on IT Systems How do international accounting standards influence the information technology industry? Thanks for your reactions... X Welcome to the International Accounting Standards best practices. The topic of this particular best practice is: "Influence IAS on IT Systems". Please register now to read all responses and to join this discussion yourself. Log in   Faith Makombe Student (Other), Zimbabwe   Influence of IAS on IT Systems IAS (IFRS) are becoming generally accepted globally as compared to the era before the millennium, and also financial reporting is becoming more and more computerised. Therefore accounting software needs to be designed in such a way that transactions are processed and reported in the way that is required by these international financial reporting standards. This therefore pressures both software manufacturers and users of software to integrate and understand the IAS, which will lead to better designs and better user understanding of the software.   Roy Jun Esmedina Analyst, Philippines   Influence of IAS on IT Systems Information technology (IT) is nowadays a prominent bridge of business communications and transactions. Companies around the world are striving to keep abreast on the latest IT product developments mainly - but not limited to - these following advantages: - Operational convenience and efficiency - Accurate and timely reporting, budgeting and planning, forecasting - Informed decision making, and the like. Further, the above-mentioned features and benefits of IT products came out due to every companies desire of timely faithful representation of the company's operational and financial status (financial statements). As a result, IT products are currently patronized by most of the companies around the world due to its adherence to IAS / IFRS and company's business objectives. Participate and leave a comment Exchanging your ideas stimulates your personal and professional development. And you can help other people! Please motivate your point of view. You can still edit your comment for 3 hours. Share your opinion, knowledge and experience or ask a question (sign up for free first) Start a new forum topic

More on International Accounting Standards Summary Forum Interpretation of IAS Standards Difference between Indian Accounting Standards and IFRS 🔥 How People see the Accounting Job Best Practices Benefits of International Accounting Standards (IAS) Consequences of Violation of IAS? Types of Auditing Standards Influence IAS on IT Systems Usage of International Accounting Standards (IAS) How Many Accounting Standards Role of International Accounting Standards Committee IAS and 'Fair' Financial Statements International Acconnting Standards for a Public Limited Company Total Number of IAS Standards? Special Interest Group Are you interested in International Accounting Standards? Sign up for free Notify your students Copy this into your study materials: Interesting discussion: Influence IAS on IT Systems and add a hyperlink to: https://www.12manage.com/forum.asp?TB=ias&S=129 Link to this discussion Copy this HTML code to your web site: Interesting discussion: <a href="https://www.12manage.com/forum.asp?TB=ias&S=129">Influence IAS on IT Systems</a>

International Accounting Standards Knowledge Center

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