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What Is Ifrs All About? by starryadmin: 3:54pm On Jan 16, 2020 |
After sending an article on our new IFRS Video Lectures, I received over 250 emails of Accountants requesting that I send them more details of what IFRS is all about. So, I decided to research and write the article you are reading now. Sit down, relax and read on………. International Financial Reporting Standards (IFRSs) refers to a series of accounting pronouncements published by the International Accounting Standards Board (IASB) to help preparers of financial statements, throughout the world, produce and present high quality, transparent and comparable financial information. The term “International Financial Reporting Standards (IFRSs) and interpretations approved by IASB and International Accounting Standards (IASs) and interpretations issued by IASB's predecessor, the Board of International Accounting Standards Committee (IASC). Since IFRS standard is now adopted in Nigeria, Nigerian reporting entities are now using the same reporting framework as their peers worldwide which would enhance the relevance of their reports in the international arena. In addition, the greater precision of IFRS would improve the comparability of reports between different entities in Nigeria and could act as a catalyst to further develop the quality and transparence of financial reporting in the country. P.S: Still want to know more about IFRS exams and registration? Need IFRS Video Tutorial? Call Starry Gold Academy on 09060404765,08074460975,08023428420, 07086810335, 08085378906, 08123189141 , 09076786154, 07038174484 |
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