International Financial Reporting Standards (IFRS)

International Financial Reporting Standards (IFRS) are a set of globally accepted accounting rules that guide how companies prepare their financial statements. The aim is to ensure transparency, consistency, and comparability of financial information across different countries. By using IFRS, businesses can provide a clear picture of their financial health, making it easier for investors, regulators, and stakeholders to understand and compare financial performance. Many countries have adopted these standards to promote trust and efficiency in the global financial markets.