RaRa Accounting Outsourcing

Demystifying the International Financial Reporting System (IFRS)

What is IFRS? IFRS stands for International Financial Reporting Standards. It’s a framework of guidelines and rules developed by the International Accounting Standards Board (IASB), an independent international organization. The primary goal? To create consistency, transparency, and comparability in financial reporting worldwide. Why IFRS? In a world where businesses transcend borders, having a common financial …

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