THE BENEFITS AND KEY CHALLENGES OF USING INTERERNATIONAL FINANCIAL REPORTING STANDARD (IFRS): CASE STUDY OF HEINEKEN BREWERY FACTORY

Abstract

This study focus on the adoption of International Financial Reporting Standard (IFRS). Benefit and key challenge of IFRS in Heineken Brewery factory. The study use both primary and secondary data. Primary data were collected through questioner and secondary data were collected from company profile and proclamation and regulations. IFRS adopted officially in December 2014 and the main objective of IFRS is to converge the diverse business language being used by business communities all over the world. Finally the study displayed practical implication for government of Ethiopia and Heineken brewery factory to use proper application of all adopted standard also the study suggest that rigorous IFRS capacity building program should be embarked by the government and company also for training institution in order to provide the needed man power for IFRS implementation.