convergence of International Financial

September 27, 2021

ARTICLE

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Contextual issues of the convergence of International Financial Re ortin The case of Germany Andreas Hellmann *, Hector Perera, Chris Patel Department of Accounting and Finance. Faculty of Business and 17C0I1OnTleS. MaCqUZirle Univendfy Sydney, N.114/ 2109, Aultrafici
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Objectives of the IASB k;iq- iz
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Standards.
_\ (21 Do you think 11t44Cniimest°9ARylE MS. 13 is achieving Mbjective?

  1. to develop, in the public interest, a single set of high quality, understandable and enforceable global accounting standards that require high quality, transparent and comparable information in financial statements and other financial reporting to help participants in the world’s capital markets and other users make economic decisions; 2. to promote the use and rigorous application of those standards; and 3. in fulfilling the objectives associated with (1) and (2), to take account of, as appropriate, the special needs of small arid medium-sized entities and emerging economies; and .)4004 ‘C\
  2. to bring about convergence of national accounting standards and International Accounting Standards and international Financial Reporting Standards to high quality solutions.

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• Firstly, g ,24-fipm
• what is IASB objective? – What is convergence? ‘ • What is IFRS?
• I don’t think IASB is achieving its_ objective, why? (reason)
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