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Dictionary by pitch.dog
Accounting policy, GAAP & adjustments · Core

International Financial Reporting Standards

Also called: IFRS Accounting Standards

ELI5

Accounting standards issued by the IASB and adopted or required in many jurisdictions.

Used in conversation

“Can we state who receives the right created by international Financial Reporting Standards, and when it applies?”

Pitch context

You will see “International Financial Reporting Standards” in financial models, budgets, board packs and investor materials when the discussion reaches accounting policy, gaap & adjustments.

Why it matters: In accounting policy, gaap & adjustments, a loose definition can change rights, obligations, approval, disclosure or enforceability.

Caution

Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.

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Sources & evidence · 4

Direct term-level sources and supporting source families.