BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -IASB members are responsible for the development and publication of IFRS Accounting Standards, including the IFRS for SMEs Accounting Standard. The IASB is also responsible for approving Interpretations of IFRS Accounting Standards as developed by the IFRS Interpretations Committee (formerly IFRIC).

Detailed explanation-2: -International Financial Reporting Standards (IFRS) are a set of accounting standards that govern how particular types of transactions and events should be reported in financial statements. They were developed and are maintained by the International Accounting Standards Board (IASB).

Detailed explanation-3: -The IFRS is issued by the International Accounting Standards Board (IASB). The IFRS system is sometimes confused with International Accounting Standards (IAS), which are the older standards that IFRS replaced in 2001.

Detailed explanation-4: -The IASB is an independent standard-setting board that develops and approves International Financial Reporting Standards.

Detailed explanation-5: -The purpose of the Framework is to: assist the IASB to develop and revise its standards. assist entities to develop consistent accounting policies when no standard applies to a particular transaction or other event, or when a standard allows a choice of accounting policy, and.