IFRS vs IAS

Hi buddy can you tell me deference between IFRS (International Financial Reporting standards) and IAS (International Accounting Standards), do you have its info ??

[Shaleen]

As your question is differences between the IAS and IFRS which arisen on a number of occasions in accounting circles, and in fact, some would question if there is any difference at all, so as per our sourse we find following defrecne between then are as follows

IAS stands for International Accounting Standards, while IFRS refers to International Financial Reporting Standards.

IAS standards were published between 1973 and 2001, while IFRS standards were published from 2001 onwards.

IAS standards were issued by the IASC, while the IFRS are issued by the IASB, which succeeded the IASC.

Principles of the IFRS take precedence if there’s contradiction with those of the IAS, and this results in the IAS principles being dropped.

List of Reporting Standards and International Accounting Standards

IAS 1 Disclosure of Accounting Policies (1975)

Presentation of Financial Statements (1997) 1975
IAS 2 Valuation and Presentation of Inventories in the Context of the Historical Cost System (1975)

Inventories (1993) 1976
IAS 3 Consolidated Financial Statements
IAS 4 Depreciation Accounting
IAS 5 Information to Be Disclosed in Financial Statements
IAS 6 Accounting Responses to Changing Prices
IAS 7 Statement of Changes in Financial Position (1977)

Cash Flow Statements (1992)
Statement of Cash Flows (2007) 1977
IAS 8 Unusual and Prior Period Items and Changes in Accounting Policies (1978)

Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies (1993)
Accounting Policies, Changes in Accounting Estimates and Errors (2003) 1978
IAS 9 Accounting for Research and Development Activities
IAS 10 Contingencies and Events Occurring After the Balance Sheet Date (1978)

Events After the Balance Sheet Date (1999)
Events after the Reporting Period (2007) 1978
IAS 11 Accounting for Construction Contracts (1979)

Construction Contracts (1993) 1979
IAS 12 Accounting for Taxes on Income (1979)

Income Taxes (1996) 1979
IAS 13 Presentation of Current Assets and Current Liabilities
IAS 14 Reporting Financial Information by Segment (1981)

Segment reporting (1997) 1981
IAS 15 Information Reflecting the Effects of Changing Prices
IAS 16 Accounting for Property, Plant and Equipment (1982)

Property, Plant and Equipment (1993) 1982
IAS 17 Accounting for Leases (1982)

Leases (1997) 1982
IAS 18 Revenue Recognition (1982)

Revenue (1993) 1982
IAS 19 Accounting for Retirement Benefits in Financial Statements of Employers (1983)

Retirement Benefit Costs (1993)
Employee Benefits (1998) 1983
IAS 20 Accounting for Government Grants and Disclosure of Government Assistance
IAS 21 Accounting for the Effects of Changes in Foreign Exchange Rates (1983)

The Effects of Changes in Foreign Exchange Rates (1993) 1983
IAS 22 Accounting for Business Combinations (1983)

Business Combinations (1993) 1983
IAS 23 Capitalisation of Borrowing Costs (1984)

Borrowing Costs (1993) 1984
IAS 24 Related Party Disclosures
IAS 25 Accounting for Investments
IAS 26 Accounting and Reporting by Retirement Benefit Plans
IAS 27 Consolidated Financial Statements and Accounting for Investments in Subsidiaries (1989)

Consolidated and Separate Financial Statements (2003)
Separate Financial Statements (2011) 1989
IAS 28 Accounting for Investments in Associates (1989)

Investments in Associates & ASSOCIATES (2003)
Investments in Associates and Joint Ventures (2011) 1989
IAS 29 Financial Reporting in Hyperinflationary Economies
IAS 30 Disclosures in the Financial Statements of Banks and Similar Financial Institutions
IAS 31 Financial Reporting of Interests in Joint Ventures (1990)

Interests in Joint Ventures (2003) 1990
IAS 32 Financial Instruments: Disclosure and Presentation (1995)

Financial Instruments: Presentation (2005) 1995
IAS 33 Earnings per Share
IAS 34 Interim Financial Reporting
IAS 35 Discontinuing Operations
IAS 36 Impairment of Assets
IAS 37 Provisions, Contingent Liabilities and Contingent Assets
IAS 38 Intangible Assets
IAS 39 Financial Instruments: Recognition and Measurement
IAS 40 Investment Property
IAS 41 Agriculture
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
IFRS 9 Financial Instruments
(updated 2014) 1-Jan-18
IFRS 10 Consolidated Financial Statements
IFRS 11 Joint Arrangements
IFRS 12 Disclosure of Interests in Other Entities
IFRS 13 Fair Value Measurement
IFRS 14 Regulatory Deferral Accounts
IFRS 15 Revenue from Contracts with Customers