International Financial Reporting Standards information
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International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB).[1] They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and comparable across international boundaries.[2] They are particularly relevant for companies with shares or securities publicly listed.
IFRS have replaced many different national accounting standards around the world but have not replaced the separate accounting standards in the United States where U.S. GAAP is applied.
^Posner, Elliot (1 October 2010). "Sequence as explanation: The international politics of accounting standards". Review of International Political Economy. 17 (4): 639–664. doi:10.1080/09692291003723748. ISSN 0969-2290. S2CID 153508571.
^IASB. "Who we are". Retrieved 13 September 2019.
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