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IFRS, or International Financial Reporting Standards, are used by public companies in many countries around the world as the accounting standard for financial reporting. It is also often used by private companies, non-profit organizations, and government entities in countries where IFRS is adopted.
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Uses of ifrs?
International Financial Reporting Standards (IFRS) are new standards and Interpretation about accounting applied in several countries. IFRS are issued by IASB For more info I suggest you to visit related links
Is accrual accounting GAAP or IFRS?
IFRS
How many ifrs standards are there?
There are currently 13 IFRS standards...
What is iFRS equity?
IFRS means International Financial Reporting Standard Equity means Equity IFRS Equity means Equity computed on the basis of IFRS For more info I can suggest you to visit these website: http://www.ifrslist.com/ (is a free community about IFRS. I suggest you to join it) http://www.ifrslist.com/tag/equity/ Regards
What is ifrs 1?
Dear IFRS 1 is the International financial reporting standard n. 1 related to First Time Adoption of IFRS. I can suggest you to visit these website to receive more info about: http://www.ifrslist.com/ (is a free community about IFRS. I suggest you to join it) http://www.ifrslist.com/category/ifrs-1/ http://www.iasplus.com/standard/ifrs01.htm Regards
Why there is implementation and adoption of IFRS and IAS in the Philippines?
IFRS and IAS in the Philippines are implemented and adopted in order to prepare the general purpose financial statements. To comply with every IFRS, it grants limited exemptions from the general requirement.
What is the difference between GAAP costing and IFRS costing?
There are several costing items that has change in the adoption of IFRS, for in GAAP the stock valuation or material pricing adopted is LIFO and FIFO but in IFRS only FIFO is adopted etc
What challenges are faced by the accountants in different countries in using IFRS as they prepare and present financial statements?
accounting profession challenges when using IFRS
Who is the authority of IFRS?
IFRS, International financial reporting standard re Standards Interpretations and the Framework adopted by the IASB (International Accounting Standard Board). For more info I can suggest you to visit these website: http://www.iasb.org http://www.ifrslist.com/ (is a free community about IFRS. I suggest you to join it) http://www.ifrslist.com/tag/iasb/ http://www.iasplus.com/country/useias.htm (IFRS per Country) Regards
How many international accounting standards are there?
Typically, every country can have their own set of accounting standards used for private enterprises. However, the three major accounting standards recognized globally are US GAAP, Canadian GAAP (although Canada is switching to IFRS effective January 1st, 2011), and IFRS (which is used by most countries in the world now, excluding USA, which uses US GAAP). *GAAP = Generally Accepted Accounting Principles **IFRS = International Financial Reporting Standards
Which IFRS are applicable to Hedge fund accounting?
IAS-39/32 or in future IFRS-9 will apply. all kinds of fin inst will be under the coverage of these three std's.
What policy in Mahindra Satyam rewards the faculty contributors?
IFRS
