Tag Archives: IAS

Purpose of Financial Statements

May 31, 2007 – 2:50 am

According to paragraph 7 IAS 1, Presentation of Financial Statements,

The objective of general purpose financial statements is to provide information about the financial position, financial performance and cash flows of an entity that is useful to a wide range of users in making economic decisions.

By deuts | Posted in Accounting, Audit and Tax | Also tagged , , , | Comments (5)

The Difference Between IFRS and IAS

January 15, 2007 – 6:06 pm

This is the question that oftentimes pops up from a middle of nowhere….

What basically are the differences between the International Financial Accounting Standards (IFRS) and International Accounting Standards (IAS)? Or, should we rephrase the question, are there any differences at all?

By deuts | Posted in Accounting, Audit and Tax | Also tagged , , , , | Comments (34)