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What Does International Financial Reporting Standards – IFRS Mean?

April 26, 2017Education financial glossary ifrs International Investment mean Standards

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What Does International Financial Reporting Standards – IFRS Mean?

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A set of international accounting standards stating how particular types of transactions and other events should be reported in financial statements. IFRS are issued by the International Accounting Standards Board. IFRS are sometimes confused with International Accounting Standards (IAS), which are the older standards that IFRS replaced. (IAS were issued from 1973 to 2000.