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Presentation of Company's Accounts in the Framework of International Financial Reporting System (IFRS)

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Added on  2020-06-06

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1 X FINANCIAL ACCOUNTING TABLE OF CONTENTS INTRODUCTION 1 PART 11 Definition 1 Scope 1 Example 1 PART 22 Definition 2 Scope 3 Example 3 CONCLUSION 4 REFERENCES 5 INTRODUCTION To make the presentation of financial statements of the company's accounts, there are requirements of preparing and presenting the adequate methods and techniques which are facilitated by International financial reporting system (IFRS), International accounting standard board (IASB) etc. PART 1 1 Definition The role of IASB in presentation of the

Presentation of Company's Accounts in the Framework of International Financial Reporting System (IFRS)

   Added on 2020-06-06

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1 X FINANCIALACCOUNTING
Presentation of Company's Accounts in the Framework of International Financial Reporting System (IFRS)_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1PART 1............................................................................................................................................1Definition................................................................................................................................1Scope......................................................................................................................................1Example..................................................................................................................................1PART 2............................................................................................................................................2Definition................................................................................................................................2Scope......................................................................................................................................3Example..................................................................................................................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
Presentation of Company's Accounts in the Framework of International Financial Reporting System (IFRS)_2
INTRODUCTIONTo make the presentation of financial statements of the company's accounts, there arerequirements of preparing and presenting the adequate methods and techniques which arefacilitated by International financial reporting system (IFRS), International accounting standardboard (IASB) etc. In the present report, there will be discussion based on various users offinancial statements and their usefulness.PART 1DefinitionThe role of IASB in presentation of the financial statement is the motive to facilitateauthenticate framework and manner of preparing such data sets (Picker and et.al., 2016).Therefore, in the current scenario, there has been use of such techniques which will be beneficialas the users will rely over the outcomes facilitated by the firm as well as they could make theirprofitable investments in the company.ScopeThe influence of these accounting standards and broads helpful in creating the reliabilityof the financial disclosure. It ensures that there has been use of authenticated data and will bemeasured in the preferable state (Flower, 2016). Therefore, it can be said that influence ofprinciples and format or such institutions will help in validating the outcomes.ExampleThere have been 7 users of such financial information which are being analysed by IASBsuch as:Government:The legal authority in every nation seeks the financial statement of various organisationsin terms of gaining the information relevant with the revenue and gains made by them as well astaxes paid by them. Thus, it helps them in determining the amount of corporate taxes being paidby the organisation.Lenders:1
Presentation of Company's Accounts in the Framework of International Financial Reporting System (IFRS)_3

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