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In your opinion are "International Financial Reporting Standards (IFRS)" applicable to privately owned businesses? If yes, to what extent?

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Question added by Deleted user
Date Posted: 2014/08/16
Deleted user
by Deleted user

IFRS should be used by  a private owned business when preparing statutory accounts as per requirement of the laws of a land.

The constitution of the company should also specify all the requirement that should be followed when it concerns non statutory issues and where IFRS can apply to them.

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