Question

a company that prepares its financial statements according to international financial reporting standards (ifrs) accounts for a government grant by recognizing revenue for the amount of the grant. group startstrue or false

Answer 1

International Monetary reportage Standards (IFRS) area unit a collection of accounting standards that govern however explicit varieties of transactions and events ought to be rumored in monetary statements.

They were developed and area units maintained by the International Accounting Standards Board (IASB). IFRS Accounting Standards address this challenge by providing a high-quality, internationally recognized set of accounting standards that bring transparency, answerability and potency to global monetary markets.

It's a set of accounting rules and standards verifying that accounting events are reportable in your business's money statements. Issued by the International Accounting Standards Board (IASB), IFRS aims to create money statements that are consistent, comparable, and clear across the globe.

To learn more about Accounting Standard Board

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