Why was there a need of implementation of IFRS for European Countries?

Question

Does different accounting / reporting method shows different results?

Answer 1

You're absolutely right and indirectly answered your own question!

Different countries have their own set of "generally accepted accounting principles" and accounting boards. However, markets have become increasingly more integrated (e.g. EU). When looking at countries across a unified market, it's best if you're proverbially comparing apples to apples.

This is why IFRS is being implemented, as a universal set of GAAP and a single accounting board.