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Q. 12RQ

Horngren'S Financial And Managerial Accounting
Found in: Page 32

Short Answer

Explain the role of the International Accounting Standards Board (IASB) in relation to International Financial Reporting Standards (IFRS).

IASB publishes the IFRS.

See the step by step solution

Step by Step Solution

Step1: Explanation on IFRS

International Financial Reporting Standards (IFRS) are the set of accountinmgstatndards that are followed by more than 116 countries.

Step2: Explanation on IASB

International Accounting Standards Board (IASB) is a private organization which is responsible for approiving the IFRS.

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