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International Financial Reporting Standards or IFRS are a set of accounting rules used to produce financial statements of public companies. These rules are intended to make them consistent, transparent, and easily comparable, all around the world. While preparing financial statements considering all the IFRS rules; clarity, relevance, reliability, and comparability are very important.
Revenue under IFRS will be lower than Indian GAAP, as the financing component will be recognized as interest income. The earnings before interest, tax, depreciation and amortization will also be lower with IFRS accounting rules.IFRS also requires companies to make significant new disclosures.
In countries with rigid regulation over financial reporting, IFRS creates efficient economic advantages and benefits. These benefits include increased stock’s market value, increased market liquidity and cost-effective capital.
Get IFRS support to get these benefits for your company from Finance and Accounting experts at FOAPS Group LLC.
International Financial Reporting Standards or IFRS are a set of accounting rules used to produce financial statements of public companies. These rules are intended to make them consistent, transparent, and easily comparable, all around the world. While preparing financial statements considering all the IFRS rules; clarity, relevance, reliability, and comparability are very important.
Revenue under IFRS will be lower than Indian GAAP, as the financing component will be recognized as interest income. The earnings before interest, tax, depreciation and amortization will also be lower with IFRS accounting rules.IFRS also requires companies to make significant new disclosures.
In countries with rigid regulation over financial reporting, IFRS creates efficient economic advantages and benefits. These benefits include increased stock’s market value, increased market liquidity and cost-effective capital.
Get IFRS support to get these benefits for your company from Finance and Accounting experts at FOAPS Group LLC.
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