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Home > QFINANCE Dictionary > Definition of IASB

Definition of

IASB

Accounting abbr

organization that sets accounting standards International Accounting Standards Board: an independent and privately funded standard-setting organization for the accounting profession, based in London. The Board, whose members come from nine countries and a variety of backgrounds, is committed to developing a single set of high quality, understandable, and enforceable global standards that require transparent and comparable information in general purpose financial statements. It also works with national accounting standard setters to achieve convergence in accounting standards around the world.

IASB - Related Articles
  • The Rationale of International Financial Reporting Standards and Their Acceptance by Major Countries

    Best Practice

    In 1973 the predecessor of the International Accounting Standards Board (IASB), the International Accounting Standards Committee (IASC), was founded by the professional accounting organizations of nine countries: Australia, Canada, France, Japan, Mexico, the Netherlands, the United Kingdom (together
    By Véronique Weets

  • Performance Reporting under IFRS

    Best Practice

    Financial statements prepared under International Financial Reporting Standards (IFRS) include a statement of comprehensive income which, together with associated notes, report a company’s performance for the accounting period. The International Accounting Standards Board (IASB), an independent body
    By Peter Casson

  • Understanding the Requirements for Preparing IFRS Financial Statements

    Best Practice

    International Financial Reporting Standards (IFRS), drawn up and published by the International Accounting Standards Board (IASB), are rapidly becoming the most globally applied set of accounting standards. Approximately 9,000 public companies in the European Union had transferred to IFRS reporting
    By Véronique Weets

  • Fair Value Accounting: SFAS 157 and IAS 39

    Best Practice

    Recent initiatives by both the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) have increased the use of fair value accounting for financial reporting across many jurisdictions around the world. There are many issues surrounding fair value
    By Kevin Ow Yong

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Definitions of ’IASB’ and meaning of ’IASB’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’IASB’ and other financial terms with our online QFINANCE Financial Dictionary.

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