IAS International accounting standards was a group of standards or principles that states how to enter a transaction in the financial statements. These standards have been issued from1973 to2001 by the International Accounting Standards Committee (IASC). The responsibility of IASC for setting standards was taken over by the IASB in2011. Till then the IAS has issued41 standards.while International Accounting Standards Board (IASB) decided to adopt the current standards even though these standards required some revisions, when they took over IASC’s responsibilities. IASF were going to call them International Financial Reporting Standards (IFRS) for the future standards which were going to be issued by them. The need to update and make the current standards and concepts more perfect to imitate the changes in the common business, economical environment and financial markets gave rise to IFRS.
Further "IAS11" is for construction contracts however "IFRS11" is for Joint Arrangement
IAS11 is construction contracts.. IFRS11 is joint arrangements..
Ias11 has some link with IAS18 revenue, where as IFRS11 has a link with IAS28 in case of investment in associates