Introduction to IFRS

Introduction to IFRS

In the second video on this series, Saket outlines the importance of the International Financial Reporting Standards (IFRS), a global set accounting rules that govern the reporting of transactions and other accounting events in the financial statements.
Overview

Accounting Standards are a set of principles or rules companies follow when they prepare and publish their financial statements. The accounting standards govern the reporting of transactions and events in the financial statements. The International Financial Reporting Standards (IFRS) bring transparency, accountability and efficiency to financial markets around the world. There is a wide variety of internal and external users of the financial statements.

Key learning objectives:

  • What are the objectives of IFRS?

  • How many countries have adopted IFRS?

  • Who are the users of the financial statements?

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Summary
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Expert
Saket Modi

Saket Modi

Saket is a financial trainer and consultant based out of London. He specialises in advanced accounting, financial reporting and financial analysis, particularly with regards to International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS) and Financial instruments.

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