IAS Accounting Standards

Posted in Finance, Accounting and Economics Terms, Total Reads: 1088
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Definition: IAS Accounting Standards

The International accounting standards (IAS) are formulated by the International Accounting Standards Committee and it lays the rules that firms have to follow for recording their transactions appropriately in the financial statements.

The objective is for all firms to have a common reporting standard easier for the shareholders and investors to interpret and compare firms with each other along with allowing smoother regulation and auditing of the firms.

 

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