International Financial Reporting Standards (IFRS)
International Financial Reporting Standards (IFRS) are a set of accounting rules developed to create a common financial reporting language for businesses around the world. These standards aim to ensure that financial statements are consistent, transparent, and comparable across different countries, making it easier for investors and stakeholders to understand a company's financial health.
IFRS is used by companies in many countries, particularly those listed on stock exchanges. By adopting these standards, businesses can improve their financial reporting and enhance investor confidence, ultimately facilitating international trade and investment.