STUDIES LITERATURE ABOUT DEVELOPMENT STANDARD ACCOUNTANCY INTERNATIONAL AS WELL AS CHALLENGES AND OPPORTUNITIES FACED

Abstract

This Studies aiming For explore development International Financial Reporting Standards (IFRS) as well challenges and opportunities that arise in the process of adoption and implementation in various countries. Since formation International Accounting Standards Committee (IASC) from 1973 to transformation become International Accounting Standards Board (IASB) in 2001, IFRS has experience development rapid which contributes to harmonization standard global accounting. Objectives The main IFRS is increase transparency, accountability and market efficiency through report finances that can compared to in a way international. Research This use method studies literature with analyze various source like books, journals scientific, and reports study For identify trends, challenges and benefits IFRS implementation. Analysis results show that although IFRS adoption faces challenge significant, such as difference culture accounting, system diverse laws, as well as condition economy varies from country to country, the benefits offered are enormous. For companies, IFRS allows more access wide to international markets and reduction cost of capital. For investors, IFRS improves trust and convenience in compare report finance across countries. While that, the regulator gets benefit from higher standards consistent For supervision. Research This recommend stakeholders interest For overcome obstacle in implementation of IFRS with flexible and collaborative approach , so objective main global transparency and accountability can achieved. With Thus, IFRS does not only become tool technical, but also a driving force main for integration global economy .