Implications of International Accounting in Australia after IFRS period

Table of Contents

Introduction: 3

Section 1: Key Policies. 4

Section 2: Assessment of Accounting Flexibility. 5

Section 3: Evaluation of Accounting Strategy Flexibility. 5

Section 4: Evaluating the Quality of Disclosure Issues. 6

Section 5: Potential Red Flag Issues. 6

Section 6: Conceptual Framework. 7

Conclusion: 8

Bibliography. 9

Introduction:

The paper would thrive to present the significant implications captured in the corporate scenario of Australia after the adoption of the international accounting standards in 2005. It would show how reputed organisations like the National Australian Bank has been affected by adopting the International Financial Reporting Standards (IFRS).It is noted that the National Australia Bank (NAB)is the biggest commercial bank operating across 900 locations in Australia, New Zealand and other parts of the world facilitating 9,000,000customers(Nab.au, 2018). So the report would highlight the effects that IFRS has implicated in the Australian accounting scope after its adoption.

(I.C. RS 8445)

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