Familiarity of Accounting Students toward International Financial Reporting Standards (IFRS)

Abstrak

Globalization is on the trend that even Accounting profession embraced it. It has an obvious impact in the world, especially in business. International Financial Reporting Standards (IFRS) is known to be the international standards that are generally accepted in accounting practice. Although, most of the accounting practices have been followed by individual state, changes had been made in order to converge the principles internationally in line with globalization. This research wants to explore how familiar accounting students in certain universities in Indonesia with the adoption of IFRS. Along with its familiarity, it was also discovered that there are some students who do not support IFRS full adoption because of some identified reasons. With the pros and cons, accounting profession has no choice but to implement the principle-based reporting.

Keywords: Globalization, International Financial Reporting Standards, Accounting Students