ias vs ifrs.pptx

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1. Difference between IFRS and IAS Presented by Snehil Rawal

2. IFRS IFRS stands for International Financial Reporting Standards, It is prepared by the IASB (International Accounting Standards Board). It is used in around 144 countries and is regarded as one of the most popular accounting standards.

3. IAS IND AS is also known as Indian Accounting Standards or Indian version of IFRS. Indian AS or IND AS is used in the context of Indian companies.

4. Main Differences Between IAS and IFRS The full form of IAS is International Accounting Standards, while on the other hand, the full form of IFRS is the International Financial Reporting Standards. The IAS came into existence between 1973 and 2001 while on the other hand, the IFRS came into existence after 2001. The IAS standards are published by the International Accounting Standards Committee while on the other hand, the IFRS standards are published by the International Accounting Standards Board. In case of any contradictions, the standards of the IAS are not taken into consideration and are dropped, while on the other hand in case of any contractions the principles of IFRS are taken into consideration since they are newer. The IAS principles do not have any rules to identify, measure, present and disclose all non-current assets for sale while on the other hand, the IFRS principles contain all the rules to identify, measure, present and disclose all non-current assets for sale.