Over the last year or so there has been widespread debate about IFRS (International Financial Reporting Standards) replacing US GAAP (Generally Accepted Accounting Principles), but how close are we and what does it really mean? Are we really about to see a single worldwide accounting standard applied in every major market?
IFRS - One world, one standard – almost a reality?
• By contrast, average across all countries studied worldwide is 24% higher than 2008
• G7 economies lag well behind BRICs
Bank lending to the private sector in Europe is now on average 25% lower last year than it was before the financial crisis, hampering European economies’ return to economic growth, reveals a new study by UHY, the international accounting and consultancy network.
Relatively low import tariffs help keep goods costs down
Free Trade Agreements an increasingly critical policy area