International Financial Reporting Standards


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International Financial Reporting Standards (IFRS)

Accounting standards differ across countries making it difficult for investors to understand the financial health of corporations in different countries. Countries are gradually adapting the International Financial Reporting Standards proposed by the International Accounting Standards Board (IASB).

International Financial Reporting Standards

A system for standardizing accounting practices across the world. International Financial Reporting Standards are issued and interpreted by the International Accounting Standards Board. Though it has no authority to enforce its rulings, a number of jurisdictions, including the European Union, Singapore, and the Gulf Cooperation Council follow its guidelines anyway. The IFRS replaced the International Accounting Standards in 2001.
References in periodicals archive ?
Etisalat's Net Profits and Net Revenues in 2008, restated to comply with International Financial Reporting Standards, were Dh 2.
But he stoutly defended the decision to move ahead with a partial solution, because, he said, "it is essential to provide credibility to financial statements prepared under international financial reporting standards and to the development of a common European capital market.
The IVSC paper dealt with the valuation of owner-occupied properties under the International Financial Reporting Standards.
The exposure draft proposes guidance for insurance companies that will be expected to comply with International Financial Reporting Standards (IFRSs) in 2005.
member firm of Grant Thornton International Ltd, most say that International Financial Reporting Standards (IFRS) should not be adopted until after U.
Valuation is vital to quality financial reporting; the countries having adopted International Financial Reporting Standards would benefit from the adoption of International Valuation Standards.
The International Accounting Standards Board and FASB issued new guidance on fair value measurement and disclosure requirements for International Financial Reporting Standards and U.
In the interest of an informed public discussion, the Center for Audit Quality, which is affiliated with the AICPA, has developed the Guide to International Financial Reporting Standards.
com/us/ifrs/consumerproducts Details: Deloitte has issued two new whitepapers that provide information to chief financial and information technology officers, senior finance leaders and other corporate executives regarding the adoption of International Financial Reporting Standards (IFRS) for the power and utilities industry, and for the consumer products industry.
As part of the Dubai Strategic Plan, Dubai Chamber converts fully to the International Financial Reporting Standards (IFRS) which has been adopted and implemented by over 100 countries seeking globalization
The program, "The Changing Role of Today's CFO: New Rules and Strategies," featured sessions on Sarbanes-Oxley and its impact on Italy; accessing the credit and equity markets; trends in outsourcing; internal controls; convergence of International Financial Reporting Standards (IFRS) and generally accepted accounting principles (GAAP); and the recent Basel II rating requirements.
The Accounting Standards Board is seeking further views on its plans for convergence with international financial reporting standards as it moves toward finalising its proposals.

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