objectives of IFRS
To maintain uniformity and use of same or single accounting standards, International Financial
Reporting Standards (IFRS) are developed by International Accounting Standards board (IASB).
Objectives of IASB:
(1) To develop the single set of high quality global accounting standards so users of information
can make good decisions and the information can be comparable globally.
(2) To promote the use of these high quality standards.
(3) To fulfill the special needs of small and medium size entity by following above objectives.
Reporting Standards (IFRS) are developed by International Accounting Standards board (IASB).
Objectives of IASB:
(1) To develop the single set of high quality global accounting standards so users of information
can make good decisions and the information can be comparable globally.
(2) To promote the use of these high quality standards.
(3) To fulfill the special needs of small and medium size entity by following above objectives.