Author(s): Yassine Belkacem
Accounting standards are critical to ensuring consistency, transparency, and comparability in financial reporting. They provide a framework for how financial transactions and statements should be handled, enabling stakeholders to assess the financial health of an organization. This article delves into the various types of accounting standards, their importance, and their global influence. It explores how different countries and organizations adhere to these standards, the role of standard-setting bodies like the FASB and IASB, and how they shape financial reporting practices worldwide. Additionally, it highlights the challenges companies face in complying with accounting standards and the future of these frameworks in a rapidly evolving financial landscape