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IAS stand for International Accounting Standards
AFRS stand for International Financial Reporting Standards
International Financial Reporting Standards (IFRS):
The objective of this IFRS is to ensure that an entity’s first IFRS financial statements, and its interim financial reports for part of the period covered by those financial statements, contain high quality information that:(a) is transparent for users and comparable over all periods presented;(b) provides a suitable starting point for accounting in accordance with International Financial ReportingStandards (IFRSs); and(c) can be generated at a cost that does not exceed the benefits.
International Accounting Standards (IAS):
International Accounting Standards are accounting standards issued by the International Accounting Standards Board (IASB) and its predecessor, the International Accounting Standards Committee (IASC).
Listed companies, and sometimes unlisted companies, are required to use the standards in their financial statements in those countries which have adopted them
IAS International Accounting Standatrd &IFRS International financial Reporting Standard
These standards are rules. Conventions Approaches upon which financial statements are prepared
IAS MEANS INTERNATIONAL ACCOUNTING STANDARDS
IFRS international financial reporting standards
which is used in preaprtion of financial statements and reporting
International Financial Reporting Standards is a set of accounting standards and interpretations issued by the International Accounting Standards Board
And must be characterized those reports the following characteristics:1. - susceptibility to understand by users. Easy to understand for those who do not have a reasonable level Manalmarafh trade and economic activities and Mahaspah.2- convenience .otattabr financial statements when they affect the economic decisions of users by helping them in Qrarathm.3 - material: information and characterized by materialism if its omission or misstatement would affect economic decisions to be taken by users of these Almaloma.4- reliability of any that are free from errors Alhamh.5- faithful representation: to represent the information truthfully financial transactions and other events that is supposed to represent, or are expected to be reflected in Macol.6- substance over form: look at events according to the essence and not to form Aleghanona.7- caution: acknowledging doubts and uncertainties surrounding and inherent to many of the events and circumstances. Thus adopting a degree of caution in the exercise of the provisions necessary to conduct estimates Almtalobh.8- completion: to be complete within the physical limits and Altklfah.9- comparability: Comparison of the financial statements of the project on the passage of time in order to identify trends, as well as comparability with the financial statements for various projects In order to conduct the evaluation Alnspa.10 - timeliness: the provision of information include the time frame needed maker Alaqrar.11 - the balance between benefit and cost: to be expected benefits from cost Okbermn information obtained.
Thanks for valuable contribution
AGREE WITH MR VENKITARAMAN & MR KHALED ANSWERS
