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The purpose of this study is to identify the extent of the ability of Algerian institutions to apply international financial reporting standards, identify the obstacles that prevent such ability, and to suggest some appropriate solutions to reduce those obstacles. In order to achieve the objectives of the study, the researcher designed an electronic, specialized questioner and included in his website, and asked the specialists in the Republic of Algeria to answer it. Study samples were 33 (thirty three), and the questionnaire included two types of questions: closed questions, and open questions. The researcher found a number of results: 1- Algerian institutions do not have the ability of actual application of international financial reporting standards in the short and medium run. 2- There was a significant decrease in the ability of: legislation and education institutions, audit and control bodies, in knowledge and application of international financial reporting standards. 3- There are some obstacles that prevent institutions' ability of applying international financial reporting standards (speed adoption and application of standards without giving an opportunity of time suitable for such adoption and application, lack of Algerian institutions infrastructure readiness, weakness of financial departments at Algerian institutions, and the absence of independent professional body or association that can grant qualified certificates). At the end of the study, the researcher suggested a number of recommendations, which may contribute to the reduction of obstacles which prevent the ability of Algerian institutions to apply international financial reporting standards.