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IFRS
accounting profession challenges when using IFRS
International Financial Reporting Standards (IFRS) are new standards and Interpretation about accounting applied in several countries. IFRS are issued by IASB For more info I suggest you to visit related links
ifrs is applicable in nigeria.we use it
Push down accounting is not acceptable under IFRS.
IAS-39/32 or in future IFRS-9 will apply. all kinds of fin inst will be under the coverage of these three std's.
Typically, every country can have their own set of accounting standards used for private enterprises. However, the three major accounting standards recognized globally are US GAAP, Canadian GAAP (although Canada is switching to IFRS effective January 1st, 2011), and IFRS (which is used by most countries in the world now, excluding USA, which uses US GAAP). *GAAP = Generally Accepted Accounting Principles **IFRS = International Financial Reporting Standards
When it comes to business, there is a common global language for accounting. This is known as IFRS, or the International Financial Reporting Standards.
FRS - Financial Reporting StandardsIn UK, the chief standard-setter for financial accounting is the Accounting Standards Board (ASB), which issues standards called Financial Reporting Standards (FRSs). The ASB is part of the Financial Reporting Council, an independent regulator funded by a levy on listed companies.IFRS - International Financial Reporting StandardsInternational Financial Reporting Standards (IFRS) are standards and interpretations adopted by the International Accounting Standards Board (IASB). This is used extensively in EU and there are efforts being made to converge accounting standards globally to IFRS.
IFRS, International financial reporting standard re Standards Interpretations and the Framework adopted by the IASB (International Accounting Standard Board). For more info I can suggest you to visit these website: http://www.iasb.org http://www.ifrslist.com/ (is a free community about IFRS. I suggest you to join it) http://www.ifrslist.com/tag/iasb/ http://www.iasplus.com/country/useias.htm (IFRS per Country) Regards
There are currently 41 IAS and 9 IFRS. Although not all of the ISAs are still used as they superseded by other standards and made outdated.
why was the adoption of the IFRs seen as an incentive for multinationals and local enterprises to register on the local stock market in fiji