Which of the following is the full form of the abbreviation 'IFRS' as used in corporate/finance sector?

Indian Financial Reconciliation Standards

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Interpretation and Formal Reporting System

No worries! We‘ve got your back. Try BYJU‘S free classes today!

International Financial Reporting Standards

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

International Financial Reporting System

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is D International Financial Reporting Standards
The abbreviation 'IFRS' stands for International Financial Reporting Standards. It is a term used in the financial sector. It mainly focus to develop a understandable and comparable company accounts across the international boundaries.

Suggest Corrections

Similar questions

Q53. National Financial Reporting Authority has been in news these days. Which of the following Acts provides for NFRA as a regulatory agency for audit and financial reporting?

Q. Which of the following statements is not an objective of financial reporting?

Q. The following cost basis should be used to value inventory for external financial reporting.

Q. The purpose of financial accounts is reporting to _________.

Q. Statements of Standard Accounting Practice and Financial Reporting Standards should be complied with when preparing the final accounts of limited company because__________________.

Join BYJU'S Learning Program