The international accounting standards (IAS) were an older set of standards stating how particular types of transactions and other events should be reflected in financial statements . In the past, international accounting standards were issued by the Board of the International Accounting Standards Committee (IASC); since 2001, the new set of standards has been known as the international financial reporting standards (IFRS) and has been issued by the International Accounting Standards Board (IASB). Although IASC has no authority to require compliance with its accounting standards, many countries require the financial statements of publicly-traded companies to be prepared in accordance with IAS. BREAKING DOWN 'International Accounting Standards - IAS' The concept of converging accounting standards started in the 1950s with post-World War II economic integration and related increases in cross-border capital flows. Initial attempts to converge focused on harmonization, or reducing differences among the accounting principles used in major capital markets throughout the world. By the 1990s, harmonization was replaced with convergence — the development of a unified set of high-quality, international accounting standards used in all major capital markets and elsewhere.
LSBU is committed to supporting you develop your employability and succeed in getting a job after you have graduated. Your qualification will certainly help, but in a competitive market you also need to work on your employability, and on your career search. Our Employability Service will support you in developing your skills, finding a job, interview techniques, work experience or an internship, and will help you assess what you need to do to get the job you want at the end of your course. LSBU offers a comprehensive Employability Service, with a range of initiatives to complement your studies, including: