Intermediate Accounting 14th Edition

Published by Wiley
ISBN 10: 0470587237
ISBN 13: 978-0-47058-723-2

Chapter 1 - IFRS Insights - IFRS Concepts and Application - Instructions - Page 39: IFRS1-1

Answer

The foremost principal international body involved in crafting "the international accounting standards (IAS)" is "the International Accounting Standards Board (IASB)", whose impressive headquarters are in London. The IASB's core mandate relates to the issuance of "the International Financial Reporting Standards (IFRS)" that govern the operations of a myriad of foreign exchanges and foreign organizations featured on America's competitive security exchanges. Second, "The International Accounting Standards Board (IASB)", which constitutes four other collaborating organizations, is another notable global player in the area of accounting standards development. The mandate of IASB revolves around developing a unified collection of IFRS used in preparing financial statements intended for general-purpose roles.

Work Step by Step

The foremost principal international body involved in crafting "the international accounting standards (IAS)" is "the International Accounting Standards Board (IASB)", whose impressive headquarters are in London. The IASB's core mandate relates to the issuance of "the International Financial Reporting Standards (IFRS)" that govern the operations of a myriad of foreign exchanges and foreign organizations featured on America's competitive security exchanges. Second, "The International Accounting Standards Board (IASB)", which constitutes four other collaborating organizations, is another notable global player in the area of accounting standards development. The mandate of IASB revolves around developing a unified collection of IFRS used in preparing financial statements intended for general-purpose roles.
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