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International Accounting Standards

 
 
noun [plural] (abbreviation IAS)

Definition

ACCOUNTING international standards for accountants which explain how they should record and show companies' financial information. International Accounting Standards were published from 1973 to 2000 by the International Accounting Standards Committee (IASC), which was replaced by the International Accounting Standards Board (IASB) in 2001. Since then, the IASB has changed some International Accounting Standards and replaced others with new International Financial Reporting Standards (IFRSs).
(Definition of International Accounting Standards noun from the Cambridge Business English Dictionary © Cambridge University Press)

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