The objective of the research in this study is to measure the impact of the application of International Financial Reporting Standards (IFRSs) on the level of accounting conservatism and its implication on the operational performance indicators of Iraqi private banks whose shares are traded in the Iraqi Stock Exchange. To achieve this objective, the researcher presented and analyzed the accounting heritage literature which is represented in the International Financial Reporting Standards (IFRSs) and the influence relationship between the application of International Financial Reporting Standards (IFRSs) and the level of accounting conservatism as well as the presentation of the accounting heritage literature related to accounting implications and the influence relationship between the application of International Financial Reporting Standards (IFRSs) and operational performance indicators.