International Financial Reporting Standards

From MarketsWiki
Jump to navigation Jump to search

The International Financial Reporting Standards (IFRS) are accounting rules that govern how particular types of transactions and events should be reported in financial statements. Developed and maintained by the International Accounting Standards Board (IASB), these global standards have been developed to provide investors and other users of financial statements with the ability to compare the financial performance of publicly listed companies on a like-for-like basis with their international peers. IFRS are now used by more than 100 countries, including the European Union and by more than two-thirds of the G20. [1]