The extent of applying the 7th International Financial Reporting Standard in banks
Banks are considered an important economic sector with a great influence in every country, in which most individuals and institutions, either investors, borrowers or traders get the benefit. Banks play a key role to provide adequate confidence in the monetary system concerning as they are connected to regulatory and government authority. The users of banks' financial statements need convenient, comparable, and reliable information to help them evaluate the bank's performance and its financial position, and manage their different economic decisions. They are concerned with liquidity, solvency, and risk related to assets and liabilities. What is the importance of accounting disclosure? Accounting disclosure is very important to deliver the bank's business results and financial position to different parties. Disclosure is addressed in financial reports that include information about the bank's resources and obligations before a third party takes over. This information help...