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Main difference between IFRS AND IAS

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Main difference between IFRS AND IAS

Posted by Rishu Singh 4 years, 6 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 4 years, 6 months ago

International Accounting Standard (IAS) and International Financial Reporting Standard (IFRS) are the same. The difference between them is that IAS represents old accounting standard, such as IAS 17 Leases . While, IFRS represents new accounting standard, such as IFRS 16 Leases.

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