On 31 October 2018, the IASB gave ‘Meaning of Material (Amendments to IAS 1 and IAS 8)’ to explain the meaning of ‘material’ and to adjust the definition utilized in the Conceptual Framework and the benchmarks themselves. The New IFRS…

The IAS and IFRS are two terms that come into most accounting and bookkeeping discussions. In fact, several people use the terms IAS and IFRS interchangeably. However, the IAS and IFRS are not the same thing, but rather have subtle…