Asian Journal of Management and Commerce
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P-ISSN: 2708-4515, E-ISSN: 2708-4523

Asian Journal of Management and Commerce


2020, Vol. 1, Issue 2, Part B
Understanding IFRS: A theoretical perspective


Author(s): Dr. Kalavathi K

Abstract: In this paper an attempt is made to understand IFRS in a theoretical perspective. Since the last decade, countries around the world started either adopting IFRS (i.e., International Financial reporting Standards) in total for corporate reporting purposes or converging country specific Accounting standards with IFRS and deriving a new set of accounting standards for reporting purposes. On this background, here, an effort is made to highlight how the IFRS are evolved as global standards that can be adopted by different countries for reporting purposes. It is the combined effort of many organizations dedicated to accounting standards. Many Institutions/ organizations, at global level actively participated in the process of development of IAS/ IFRS. Hence, a background study of these institutions, such as IASC, IASB, FASB, is made in this paper.

Pages: 74-79 | Views: 22 | Downloads: 10

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How to cite this article:
Dr. Kalavathi K. Understanding IFRS: A theoretical perspective. Asian J Manage Commerce 2020;1(2):74-79.
Asian Journal of Management and Commerce