Accounting Management by International Standards

This paper traces the benefits of international accounting standards – their contribution to harmonization and globalization by purposing and tasking for accounting management. Measuring in details their pros and cons effects on the division of labour, financial innovation, company transactions and cost of capital it could be author’s recommendation for the business management inside and outside of one country’s border. Especially the multinational companies whose subsidiaries had to report for some purposes (e.g. tax, local borrowing, benchmarking) using national accounting rules convert and consolidate their different framework for unified financial statement where they were listed. With the growth of international business transactions by private and public entities, organizations the need to coordinate different investment decisions has increased. A suitable accounting information system can help multinational enterprises accomplish their managerial functions on a global basis. In this viewpoint the adoption of international accounting standards can promote and support for the business management