International companies follow the International Financial Reporting Standards (IFRS), which are set by the International Accounting Standards Board and serve as the guideline for non-U.S. GAAP companies reporting financial statements.

Standards set by the Board’s predecessor body, the International Accounting Standards Committee, are called IAS^® Standards. … We follow a thorough, transparent and participatory due process when we issue an IFRS Standard or an IFRIC Interpretation that helps companies better implement our Standards.

Some common examples of accounting standards are segment reporting, goodwill accounting, an allowable method for depreciation, business combination, lease classification, a measure of outstanding share, and revenue recognition.