THE EXPECTED BENEFITS AND CHALLENGES OF THE INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS) TRANSITION IN DEVELOPING COUNTRIES (CASE OF JORDAN)

Abstract

Accounting standards have risen globally with an occupied exhibit of confident value to their prediction, they give an early pattern for future globally regulated and enforced standards. global-standard contemplate as the base management for accounting that is shaped by a collection of legal principles. The reasonable elements of I.F.R.S for firms sectors in Jordan expose a complication with approval to of the obstruction of these standards and frequent changes made by the makers of these standards. The crucial aim of the paper is to arrange the gains and obstacles for the change of International-Financial-Reporting-Standards (I.F.R.S) in developing states (case of Jordan). The procedure of the study is investigative research for existing accounting literature review in developing countries. In this present, we draft this research at a point in which we flexibly character the interest of using International Standards for financial reporting and its challenges. Also, Additionally, this paper will add and make expected benefits for scholastics, writers, and firms segments in general; in the insight to propose authoritative details in observation to the raise for appreciative the international accounting standards in the Middle East, case of Jordan.

Keywords

• : international financial reporting standards (ifrs)
• benefits
• challenges
• jordan
• developing countries.