International Financial Reporting Standards (IFRS) are issued by International Financial Reporting Committee (IFRC) in conjuction with International Accounting Standards Board (IASB) to deal with the specific areas not covered in International Accounting Standards (IAS).
IFRS consist of the following:
IFRS 1 First time adoption of International Financial Reporting Standards
IFRS 2 Share Based Payment
IFRS 3 Business Combinations
IFRS 4 Insurance Contracts
IFRS 5 Non current assets held for sale and discontinued operations
IFRS 6 Exploration for and evaluation of Mineral Resources
IFRS 7 Financial Instruments: Disclosures
IFRS 8 Operating segments
Please refer to IAS for further reading.
