Accounting is the universal language of business
Accounting provides reliable, relevant, and timely information to managers, investors, and creditors to allow resource allocation to the most efficient enterprises. Accounting also provides measurements of efficiency (profitability) and financial soundness.
International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB) that is becoming the global standard for the preparation of public company financial statements.
By adopting IFRS, a business can present its financial statements on the same basis as its foreign competitors, making comparisons easier. Furthermore, companies with subsidiaries in countries that require or permit IFRS may be able to use one accounting language company-wide. Companies may also benefit by using IFRS if they wish to raise capital abroad.
Currently, over 120 countries worldwide have adopted in full, or an agreed version of IFRS that makes sense to their culture and businesses
Students of Masters Degree of Accounting and Finance Faculty began studying course of Accounting according to IFRS in the original language (English) this academic year.
Lecturers of Accounting Department wish students of Masters Degree to get strong knowledge and pass the exam successfully.