Difference between IFRS and accounting standards
Dear Student
Difference between International Financial Reporting Standards (IFRS) and Accounting standards(AS) :
IFRS refers to International Financial Reporting standards whereas AS refers to Accounting Standards.
IFRS Standards where publised from 2001 Onwards, whereas AS were publised between 1973 to 2001 and revised thereon.
IFRS are issued by IASB(International Accounting Standards Boards) which succeded the IASC (International Accounting Standards Commitee whereas AS are issued by Central government and ICAI.
IFRS are used by International organisations whereas AS are used by indian organisations.
Regards
Difference between International Financial Reporting Standards (IFRS) and Accounting standards(AS) :
IFRS refers to International Financial Reporting standards whereas AS refers to Accounting Standards.
IFRS Standards where publised from 2001 Onwards, whereas AS were publised between 1973 to 2001 and revised thereon.
IFRS are issued by IASB(International Accounting Standards Boards) which succeded the IASC (International Accounting Standards Commitee whereas AS are issued by Central government and ICAI.
IFRS are used by International organisations whereas AS are used by indian organisations.
Regards