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I am not so understand what is the importance of IFRS and IAS standards. Kindly guide me on the issue. Thank you.
I’m not sure that I understand your question! In order that there should be comparability between financial statements around the world, there needs to be standard accounting treatment for matters encountered in the process of preparation of financial statements.
That standard accounting treatment is specified within the IAS and IFRS
I mean what is the benefits of adoption of IFRS and IAS to the company and its shareholders and different stakeholders. Thank you.
It gives certainty, comparability, reliability, credibility and acceptability of the treatment of accounting matters
Isn’t that enough?