Tag Archives | IFRS

IFRSs in USA, Europe and Asia Pacific Countries

In this article we will discuss about the International Financial Reporting Standards (IFRSs) in USA, Europe and Asia-Pacific Countries. IFRSs in USA: The Financial Accounting Standards Board is the USA's principal financial reporting rule-making body. The FASB's most important function is to issue standards that fine US GAAPs. The accounting principles and practices of the USA are influential beyond the [...]

By Archna Mohan|2016-06-18T06:59:43+00:00June 18, 2016|Accounting Standards|Comments Off

First-Time Adoption of IFRSs by a Company

In this article we will discuss about the first-time adoption of IFRSs by a company. A company is regarded as a first-time adopter of IFRSs if, for the first time, it makes an explicit and unreserved statement that its general purpose financial statements comply with IFRSs. IFRS 1 First-time Adoption of International Financial Reporting Standards prescribes the accounting and disclosure [...]

By Archna Mohan|2016-06-18T06:59:43+00:00June 18, 2016|Accounting Standards|Comments Off

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