The impact on costs and benefit varies from country to country depending upon the characteristics, nature and culture of the country. United Kingdom adopted the new accounting plan which was announced by UK Accounting Standards Board (ASB) leaving behind their old GAAP. Altering to IFRS was the biggest challenge to corporate financial reporting. However the implementation was necessary as this would reduce the number of financial reporting standards to a single accounting system; a single standard would enhance a company’s control on financial reporting and will also able consolidation of people, systems, and processes. This would also improve the quality of financial information and also ensures timely loss recognition.
The biggest problem that UK faced was in terms of the time required for changeover and certain standards which proved problematic in this process. As compared to the earlier adopted GAAP by ASB the IFRS
Had more number of disclosures.
The cost associated with publication and production of information was high.
Some standards posed the greatest challenge for prepares and users to implement.
影响成本和受益于国家的特性取决于不同的国家，自然与文化。英国实行新会计计划是由英国会计准则委员会（ASB）宣布离开他们的旧准则。改变国际财务报告准则是企业财务报告的最大挑战。然而，实施必要的因为这会降低财务报告准则数到一个单一的会计系统；一个单一的标准将提高对财务报告的公司的控制也将人，能够整合系统，和过程。这也将提高财务信息的质量，并确保及时确认损失。
这是英国面临的转换和一定的标准，证明了在这个过程中的问题所需的时间方面最大的问题。相比于早期采用的会计准则由ASB的国际财务报告准则
有更多数量的披露。
造价信息发布与生产相关的高。
一些标准带来的最大挑战的准备和用户实施。
