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The International Accounting Standards Board (IASB) releases International Financial Reporting Standard (IFRS) 1, First-time Adoption of International Financial Reporting Standards.


The International Accounting Standards Board An editor has expressed concern that this article or section is .
Please help improve the article by adding information and sources on neglected viewpoints, or by summarizing and
 (IASB IASB

See International Accounting Standards Board (IASB).
) releases International Financial Reporting Standard (IFRS IFRS International Financial Reporting Standard(s)
IFRS Inter Frame Relay Service
IFRS Indiana Facilities Registry System
) 1, First-time Adoption of International Financial Reporting Standards International Financial Reporting Standards (IFRS) are standards and interpretations adopted by the International Accounting Standards Board (IASB).

Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS).
. It requires an entity to comply with every IASB standard in force in the first year the entity adopts IFRSs, with certain exceptions related to the cost of full compliance. The IASB is issuing the standard as implementation guidance for the more than 90 countries that will either require or permit the use of IFRSs during the next five years. The standard can be ordered from the IASB by e-mail (publications@iasb.org.uk).
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Title Annotation:International
Publication:Journal of Accountancy
Date:Sep 1, 2003
Words:94
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