DIFF BETWEEEN IAS AND IFRS

This query is : Resolved

Share Report Follow Query Ask a Query

neha dhawan

neha dhawan (Querist)
Follow

28 January 2008 WHAT IS THE DIFFERENCE BETWEEN IAS AND IFRS

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

29 January 2008 International Financial Reporting Standards (IFRS) are standards and interpretations adopted by the International Accounting Standards Board (IASB).

Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). IAS were issued between 1973 and 2001 by the board of the International Accounting Standards Committee (IASC). In April 2001 the IASB adopted all IAS and continued their development, calling the new standards IFRS.

AJAY

AJAY (Expert)
Follow

29 January 2008 Dear Neha,
1) IASB Standards are known as International Financial Reporting Standards (IFRSs).
2) All International Accounting Standards (IASs) and Interpretations issued by the IASC are known as IAS later IAS has transformed as IASB so NO new IAS shall be now issued ...

hope u got the point

for further discussion on the subject u may switch to me at ca.ajayrajput@gmail.com

CA Manish Iyer

CA Manish Iyer (Expert)
Follow

29 January 2008 IFRS includes IAS

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
Follow

03 January 2009 Dear CA Manish Iyer,
Do you have any reference for your above statement, as in my opinion IFRS does not include IAS but some of the IFRS may contain similar provisions of IAS.