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2. Financial accounting - Wikipedia

   en.wikipedia.org/wiki/Financial_accounting

   Financial accounting reports the results and position of business to government, creditors, investors, and external parties. Cost Accounting is an internal reporting system for an organisation's own management for decision making.

3. International Financial Reporting Standards - Wikipedia

   en.wikipedia.org/wiki/International_Financial...

   International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). [1] They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and ...

4. IFRS 9 - Wikipedia

   en.wikipedia.org/wiki/IFRS_9

   IFRS 9 began as a joint project between IASB and the Financial Accounting Standards Board (FASB), which promulgates accounting standards in the United States. The boards published a joint discussion paper in March 2008 proposing an eventual goal of reporting all financial instruments at fair value, with all changes in fair value reported in net income (FASB) or profit and loss (IASB). [1]

5. Accounting information system - Wikipedia

   en.wikipedia.org/wiki/Accounting_information_system

   Reporting is major tool for organizations to accurately see summarized, timely information used for decision-making and financial reporting. The accounting information system pulls data from the centralized database, processes and transforms it and ultimately generates a summary of that data as information that can now be easily consumed and ...

6. Convergence of accounting standards - Wikipedia

   en.wikipedia.org/wiki/Convergence_of_accounting...

   The above-mentioned PwC senior partners expressed that convergence will lead to an accounting system that is too rules-based for non-US listed companies, [14] while other critics conversely criticize the principles-based nature of the IFRS as making it difficult for preparers of financial statements to defend against litigation.

7. Generally Accepted Accounting Principles (United States)

   en.wikipedia.org/wiki/Generally_Accepted...

   Statements of Position, which provides guidance on financial reporting topics until the FASB or GASB sets standards on the issue. Practice Bulletins, which indicate the AcSEC's views on narrow financial reporting issues not considered by the FASB or the GASB. In 1984, the FASB created the Emerging Issues Task Force (EITF). The mission of the ...