THE IMPACT OF ADOPTING INTERNATIONAL ACCOUNTING STANDARDS IN ENHANCING THE FINANCIAL PERFORMANCE OF JOINT STOCK COMPANIES BY FOCUSING ON ENVIRONMENTALLY FRIENDLY PRODUCTS
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Abstract
This research paper attempts to demonstrate the extent of commitment to International accounting standards and its reflection on financial performance between developed and developing countries. The study took as an example (the United States of America and Iraq), as the study noted that the level of commitment to International accounting standards in the United States of America reached 87%. In contrast, the compliance rate in Iraq By applying International accounting standards, the percentage does not exceed 10%, and this is due to the weakness of oversight and enforceable laws, as well as the lack and customer permission. The continuation of such practices in Iraqi companies will result in many environmental and health impacts and their significant effects on society. International accounting standards have, there is significant pressure from several sources that influence companies' attitudes towards International accounting, for example, regulations established by the Iraqi government, as a result of pressure from international organizations through international agreements to eliminate pollution, the influence of non-governmental organizations, or the goodwill of customers. As a result, companies are trying to improve their performance in the field of international accounting in a way that they are trying to exploit in a way that is reflected in financial performance.
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