Advantages of IFRS


IFRS or International Financial Reporting Standards as would be the associated expansion of this acronym is a globally accepted accounting standard. It is a precise set of preparing reports and financial statements that help read the company data in a fashion observed worldwide. The advantages of this approach in the global business world are elaborated below. 1. Easy Comparison – Globalization to start with! The main advantage of IFRS is it allows the comparison of different companies, as data is presented…