What are IFRS?
International Financial Reporting Standards are global accounting rules which define how financial statements are prepared and presented.
Why are IFRS important?
They ensure consistency and comparability across companies and countries.
Who sets IFRS?
The International Accounting Standards Board develops and maintains IFRS.
Who uses IFRS?
Many countries require or permit IFRS for public companies.
How do IFRS affect businesses?
They influence how financial data is recorded and reported.