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Can you please let me know if IFRS and IAS are different or similar. I am just confussed with it.
Regards
Rajeevhi,
they are different.
IAS (International accounting standards) is the name that was given to those up to 2001 if i’m not mistaken. When IASB (issuing body) constitution changed , standards started to be published under another name “IFRS” – International Financial reporting standards.So say IAS 1 – Presentation of Financial statement
and IFRS 1 – First time adoption of IFRS
are two completely different standardsetc
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