IAS's & IFRS's

Question 1

What is IAS 1

Answer 1

Presentation of Financial Statements

Question 2

What is IAS 16

Answer 2

Property, plant and equipment

Question 3

What is IAS 36

Answer 3

Impairment of assets

Question 4

What is IAS 2

Answer 4

Inventories

Question 5

What is IAS 10

Answer 5

Events after the reporting period

Question 6

What is IAS 7

Answer 6

Statement of cash flows

Question 7

What is IFRS 5

Answer 7

Non-current assets held for sale and discontinued operations

Question 8

What is IFRS 16

Answer 8

Leases

Question 9

Which IAS’s are part of NCA (Non-Current Assets)?

Answer 9

IAS 16 - Property, Plant & Equip

IAS 36 - Impairment of Assets

Question 10

Which IFRS is part of NCA (Non-Current Assets)?

Answer 10

IFRS 5 - NCA held for sale and discontinued operations

Question 11

What is IFRS 13?

Answer 11

Fair Value Measurement

Question 12

What does IAS stand for an its purpose?

Answer 12

International Accounting Standards
* A set of guidelines for preparing financial statements.

Question 13

What does IFRS stand for an its purpose?

Answer 13

International Financial Reporting Standards
* intends to make financial statements more :- consistent, transparent & comparable.