Influence IAS on IT Systems

International Accounting Standards
Knowledge Center

Best Practices

Sign up

Analyst, India

Influence IAS on IT Systems

How do international accounting standards influence the information technology industry? Thanks for your reactions...

  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.

Start a new forum topic


More on International Accounting Standards
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:

and add a hyperlink to:

Link to this discussion

Copy this HTML code to your web site:

International Accounting Standards
Knowledge Center

About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2021 12manage - The Executive Fast Track. V15.8 - Last updated: 10-5-2021. All names of their owners.