On Internationalization of Accounting Standards

World economy globalization highlighted with deregulation of trade, capital movement and financing has been the dominant trend under the push of rapid growing of modern information technology, creating a urgent demand for internationalized accounting standards. On this occasion, International Accounting Standards Board (IASB) has fully considered the world situation and completed its strategic restructuring as of the beginning of the century together with development of a unitary, high quality and world applicable International Financial Reporting Standards (IFRS) that was included into its strategic targets.