radhika gs

INTERNATIONAL FINANCIAL REPORTING STANDARDS

Applicability of IFRS in India What and Why IFRS? International Financial Reporting Standards (IFRS), is a set of guidelines established by the International Accounting Standards Board (IASB). The IFRS lays certain general rules to make the financial statements of every company uniform, clear and identical around the globe. IFRS stipulates how companies should preserve and record their accounts specify the transactions and other proceedings under the financial influences.