The scope of contribution of in tenetikal accounting standard، application on attracting foreign capitals to local area.
Managerial Studies Journal,
Volume 4, Issue 7, Pages 81-122
AbstractThis study aimed to know the extent to which the application of international accounting standards in Iraq to attract private capital in foreign، where he sought the researcher to examine the reality of investment in the economy and the need for foreign investment on the one hand and the nature of the accounting system applied in Iraq and the necessity of international accounting standards on the one hand Other then the contribution of the application of these standards to attract foreign private capital to the environment of Iraq.
The researcher concluded a number of conclusions was the most important: that the application of international accounting standards in the Iraqi environment as possible to contribute to the development of information and financial data to enable verification of the value of assets and liabilities and the validity and accuracy of processes and outcomes and make comparisons and predictions on the basis of the methodology is correct and with absolute transparency، which contributes in attracting foreign private capital to the Iraqi environment. The results showed also that the Iraqi environment is a favorable environment for the application of international accounting standards، and that instead of setting standards Iraqi compatible with international standards and that need to be effort and a long time may change the economic conditions and international standards. The application of international accounting standards to confer the status of international lists of the company and thus enable them to enter international markets and that the application of international accounting standards is a prerequisite for the success of international trade agreements.
The researcher recommended a number of recommendations was the most important: the need to apply international accounting standards that they prepared in advance by specialists in this field، which confirms the gravity of the scientific and these standards and the preparation of accounting standards Iraqi compatible with the international environment will require a lot of effort، time، and with whom he may change the situation economic and international accounting standards. The application of international accounting standards in the Iraqi environment will work on updating the accounting profession and make it consistent with the trend Nhawwa of globalization، and when they gain the profession of its universal character، it becomes we can hope to greater pursuit of a global economy in the true sense of the word. Add to the need for education and training of accountants at a level commensurate with the level of accountants in the developed countries through the development of curricula in academic study in the accounting departments of the rule of international accounting instead of adopting the old curriculum، and emphasis is placed on subjects between the theory and practice of international accounting.
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