What does IFRS mean in Accounting?
This page is about the meanings of the acronym/abbreviation/shorthand IFRS in the Business field in general and in the Accounting terminology in particular.
International Financial Reporting Standards
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Definition
What does IFRS mean?
- International Financial Reporting Standards
- International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). They constitute a standardised way of describing the company’s financial performance and position so that company financial statements are understandable and comparable across international boundaries. They are particularly relevant for companies with shares or securities listed on a public stock exchange. IFRS have replaced many different national accounting standards around the world but have not replaced the separate accounting standards in the United States where US GAAP is applied.
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"IFRS." Abbreviations.com. STANDS4 LLC, 2024. Web. 2 Jun 2024. <https://www.abbreviations.com/term/297460>.
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