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Let us understand what IFRS is:
IFRS stands for international financing reporting standard. IFRS is a set of accounting standards made by an independent, non-profit organization called as the International accounting standard board (IASB). Earlier International accounting standards (IAS) were used which is now replaced with IFRS. IFRS is standards used globally for presenting company accounts throughout the world. The International standard is especially essential for large companies or multinational companies having subsidiaries in other countries. IASB took over IAS in 2001 with better standards for international and global accounting.
Today these standards are used worldwide but UK is the first country to adopt IFRS system. UK companies have been benefited with internal consistency in regards to preparation of financial reports by applying IFRS. As a result, cost reduced to a great level and IFRS provided companies with improved access to global market. Investor’s confidence increased over companies in UK and this helped them to raise money from any part of the world.
IFRS provide common factors related to business activities at International level. Motive of IFRS is to make the business easier and approachable globally. Thus, accounts provided should be correct, under stable and reliable.
Companies need to prepare dual accounts to invest in a country who has not adopted IFRS system. One example of such country is USA. In this case, two financial reports one by using IFRS and another by using generally accepted accounting principles (GAAP).
Features of IFRS:
Before we give you more reasons to go for our IFRS assignment help, let us know features of IFRS.
- Based on the comparison of the financial statement, one can decide to approach the particular company.
- Information provided is reliable and under stable related to different companies. Not only this, this information is easily available to users. Financial statement of one or different companies can be compared to make an informed decision.
- Financial statement recognize company’s item as asset, income, liabilities, expenses and equity. This position of these items informs the financial position of the company.
IFRS assignment help requires right knowledge. It is not possible for anyone to do them. We have quality and experienced people for this topic and they are well aware of this subject. They can definitely help you. Our online service for IFRS assignment help has an excellent track record. Beside this we make sure the assignment you provide us should be completed on or before time. Our experts are available 24*7 and you can approach us anytime of the day. Not only this, our services are affordable and available at best possible price. We assure you to provide quality assignment which is easily under stable as well.
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