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March 2009 » Twenty Questions on International...
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Heidi Tribunella, MS, CPA
International Financial Reporting Standards (IFRS) are issued by the International Accounting Standards Board (IASB), which was created in 2001. Previously, the International Accounting Standards Committee (IASC), founded in 1973, issued International Accounting Standards (IAS). When the IASB was created, it adopted the IAS and continued the work of the IASC. The IASB is working to harmonize accounting standards throughout the world to improve financial reporting for the global financial markets. The following are 20 common questions related to IFRS.
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