The Dynamics Application of Accounting Standards, and Its Importance in the Measurement with Fair Value & Disclosure

Abstract

This study aimed to shed light on the dynamics application of accounting standards (IAS/IFRS) in measurement with fair value and disclosure in Companies listed on Amman Stock Exchange (ASE). The study of population consisted of financial managers amounting (220) manager. A questionnaire was designed and used as a major instrument to collect information. Descriptive study showed number of findings including: the standards application contribute to creation of uniform accounting standards, creation active and semi-active markets, Preparing financial statements with integrated quality characteristics, and it reduce financial crises occurrence and economic risks. In addition, it helps in attracting investments, and it enables local Companies to invest in financial markets. In addition, it ensures sufficient disclosure to meet different needs of the beneficiary parties of information, and contributes to improving transparency level that reflects true economic value of organization. The study provided number of recommendations including, emphasizing the (IAS/IFRS) application importance in Companies listed on (ASE). Qualifying professional accounting staff, and governmental agencies that have to support through attracting foreign investment issue laws that encourage investment. Joint Coordination among Arab countries at Asia Continent level to create an active market in which to fair value can be evaluated.