International Financial Reporting Standards

E123139

Accounting standard framework Financial reporting standard

International Financial Reporting Standards are a globally recognized set of accounting rules and principles designed to bring transparency, consistency, and comparability to financial statements across different countries.

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All labels observed (18)

Label	Occurrences
International Financial Reporting Standards canonical	18
IFRS Standards	5
IAS 10 Events after the Reporting Period	1
IAS 2 Inventories	1
IAS 21 The Effects of Changes in Foreign Exchange Rates	1
IAS 7 Statement of Cash Flows	1
IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors	1
IASB Standards	1
IFRS 5 Non-current Assets Held for Sale and Discontinued Operations	1
IFRS 8 Operating Segments	1
IFRS Accounting Standards	1
IFRS Standard	1
IFRS literature hierarchy	1
International Accounting Standards	1
International Accounting Standards issued by IASC	1
International Financial Reporting Standards (IFRSs) issued by the IASB	1
International Financial Reporting Standards framework	1
international financial reporting standards	1

How this entity was disambiguated

This entity first appeared as the object of triple T1080059 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.

NED1 Entity disambiguation (via context triple) gpt-5-mini-2025-08-07

Target entity: International Financial Reporting Standards
Context triple: [US GAAP, differsFrom, International Financial Reporting Standards]

A. International Economic Accounts
International Economic Accounts is a division of the U.S. Bureau of Economic Analysis that produces statistics on the nation’s trade, investment, and financial transactions with the rest of the world.
B. United Nations System of National Accounts
The United Nations System of National Accounts is an internationally agreed statistical framework that provides standardized concepts, definitions, classifications, and accounting rules for measuring a country’s economic activity and compiling national accounts such as GDP.
C. ISO standards
ISO standards are internationally agreed-upon specifications and guidelines developed by the International Organization for Standardization to ensure quality, safety, efficiency, and interoperability across products, services, and systems.
D. ISO 15022
ISO 15022 is an international standard that defines a structured, machine-readable format for securities messaging used globally in financial markets.
E. Basel Committee on Banking Supervision
The Basel Committee on Banking Supervision is an international standard-setting body that formulates global regulatory frameworks and guidelines to strengthen the regulation, supervision, and risk management of banks.
F. None of above. chosen
G. Unsure - the case is ambiguous/there is not enough information to decide.

NED2 Entity disambiguation (via description) gpt-5-mini-2025-08-07

Target entity: International Financial Reporting Standards
Target entity description: International Financial Reporting Standards are a globally recognized set of accounting rules and principles designed to bring transparency, consistency, and comparability to financial statements across different countries.

A. International Economic Accounts
International Economic Accounts is a division of the U.S. Bureau of Economic Analysis that produces statistics on the nation’s trade, investment, and financial transactions with the rest of the world.
B. United Nations System of National Accounts
The United Nations System of National Accounts is an internationally agreed statistical framework that provides standardized concepts, definitions, classifications, and accounting rules for measuring a country’s economic activity and compiling national accounts such as GDP.
C. ISO standards
ISO standards are internationally agreed-upon specifications and guidelines developed by the International Organization for Standardization to ensure quality, safety, efficiency, and interoperability across products, services, and systems.
D. ISO 15022
ISO 15022 is an international standard that defines a structured, machine-readable format for securities messaging used globally in financial markets.
E. Basel Committee on Banking Supervision
The Basel Committee on Banking Supervision is an international standard-setting body that formulates global regulatory frameworks and guidelines to strengthen the regulation, supervision, and risk management of banks.
F. None of above. chosen

Statements (77)

Predicate	Object
instanceOf	Accounting standard framework ⓘ Financial reporting standard ⓘ
abbreviation	IFRS ⓘ
appliesTo	General purpose financial statements ⓘ Listed companies in many jurisdictions ⓘ Publicly accountable entities ⓘ
basedOn	Accrual basis of accounting ⓘ
component	IFRIC Interpretations ⓘ International Accounting Standards (IASs) issued by the IASC and adopted by the IASB ⓘ International Financial Reporting Standards (IFRSs) issued by the IASB ⓘ linked to: International Financial Reporting Standards SIC Interpretations ⓘ
developer	International Accounting Standards Board ⓘ
firstIssuedByIASB	2001 ⓘ
geographicScope	International ⓘ
governedBy	Conceptual Framework for Financial Reporting ⓘ
governingBody	International Accounting Standards Board ⓘ
hasStandard	IFRS 1 First-time Adoption of International Financial Reporting Standards ⓘ linked to: IFRS IFRS 10 Consolidated Financial Statements ⓘ IFRS 11 Joint Arrangements ⓘ IFRS 12 Disclosure of Interests in Other Entities ⓘ IFRS 13 Fair Value Measurement ⓘ linked to: IFRS IFRS 15 Revenue from Contracts with Customers ⓘ IFRS 16 Leases ⓘ IFRS 17 Insurance Contracts ⓘ IFRS 2 Share-based Payment ⓘ IFRS 3 Business Combinations ⓘ IFRS 5 Non-current Assets Held for Sale and Discontinued Operations ⓘ linked to: International Financial Reporting Standards IFRS 7 Financial Instruments: Disclosures ⓘ IFRS 8 Operating Segments ⓘ linked to: International Financial Reporting Standards IFRS 9 Financial Instruments ⓘ
includesStandard	IAS 1 Presentation of Financial Statements ⓘ IAS 10 Events after the Reporting Period ⓘ linked to: International Financial Reporting Standards IAS 12 Income Taxes ⓘ IAS 16 Property, Plant and Equipment ⓘ IAS 19 Employee Benefits ⓘ IAS 2 Inventories ⓘ linked to: International Financial Reporting Standards IAS 21 The Effects of Changes in Foreign Exchange Rates ⓘ linked to: International Financial Reporting Standards IAS 32 Financial Instruments: Presentation ⓘ IAS 36 Impairment of Assets ⓘ IAS 37 Provisions, Contingent Liabilities and Contingent Assets ⓘ IAS 38 Intangible Assets ⓘ linked to: IFRS IAS 40 Investment Property ⓘ IAS 7 Statement of Cash Flows ⓘ linked to: International Financial Reporting Standards IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors ⓘ linked to: International Financial Reporting Standards
language	English ⓘ
overseenBy	IFRS Foundation ⓘ
predecessor	International Accounting Standards ⓘ linked to: International Accounting Standards (IASs) issued by the IASC and adopted by the IASB
purpose	To enhance transparency in financial reporting ⓘ To improve comparability of financial statements across entities and jurisdictions ⓘ To provide a common global language for business affairs so that company accounts are understandable and comparable across international boundaries ⓘ To provide high-quality, globally accepted accounting standards ⓘ
relatedTo	US Generally Accepted Accounting Principles ⓘ linked to: US GAAP
replaced	Many national Generally Accepted Accounting Principles in adopting countries ⓘ
requires	Comparative information in financial statements ⓘ Disclosure of key judgments and estimates ⓘ Disclosure of significant accounting policies ⓘ
subjectArea	Corporate reporting ⓘ Financial accounting ⓘ
targetAudience	Auditors ⓘ Investors ⓘ Other users of financial statements ⓘ Preparers of financial statements ⓘ Regulators ⓘ
underlyingConcept	Accrual accounting ⓘ Consistency ⓘ Fair presentation ⓘ Going concern assumption ⓘ Materiality ⓘ Substance over form ⓘ
usedIn	Australia ⓘ Canada ⓘ European Union ⓘ Many countries in Africa ⓘ Many countries in Asia ⓘ Many countries in South America ⓘ United Kingdom ⓘ
website	https://www.ifrs.org/ ⓘ

How these facts were elicited

Referenced by (39)

Full triples — surface form annotated when it differs from this entity's canonical label.

US GAAP → differsFrom → International Financial Reporting Standards ⓘ

IFRS → fullName → International Financial Reporting Standards ⓘ

IFRS → abbreviationOf → International Financial Reporting Standards ⓘ

IFRS → component → IFRS Standards ⓘ

linked to: International Financial Reporting Standards

IFRS → originatedFrom → International Accounting Standards issued by IASC ⓘ

linked to: International Financial Reporting Standards

International Financial Reporting Standards → component → International Financial Reporting Standards (IFRSs) issued by the IASB ⓘ

linked to: International Financial Reporting Standards

International Financial Reporting Standards → hasStandard → IFRS 5 Non-current Assets Held for Sale and Discontinued Operations ⓘ

linked to: International Financial Reporting Standards

International Financial Reporting Standards → hasStandard → IFRS 8 Operating Segments ⓘ

linked to: International Financial Reporting Standards

International Financial Reporting Standards → includesStandard → IAS 2 Inventories ⓘ

linked to: International Financial Reporting Standards

International Financial Reporting Standards → includesStandard → IAS 7 Statement of Cash Flows ⓘ

linked to: International Financial Reporting Standards

International Financial Reporting Standards → includesStandard → IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors ⓘ

linked to: International Financial Reporting Standards

International Financial Reporting Standards → includesStandard → IAS 10 Events after the Reporting Period ⓘ

linked to: International Financial Reporting Standards

International Financial Reporting Standards → includesStandard → IAS 21 The Effects of Changes in Foreign Exchange Rates ⓘ

linked to: International Financial Reporting Standards

International Accounting Standards Board → develops → International Financial Reporting Standards ⓘ

International Accounting Standards Board → issues → International Financial Reporting Standards ⓘ

IFRS Foundation → developsStandard → International Financial Reporting Standards ⓘ

IFRS Foundation → developsStandard → IFRS Accounting Standards ⓘ

linked to: International Financial Reporting Standards

IAS Standards → predecessorOf → International Financial Reporting Standards ⓘ

IAS Standards → relatedTo → IFRS Standards ⓘ

linked to: International Financial Reporting Standards

IFRIC Interpretations → appliesTo → International Financial Reporting Standards ⓘ

IFRIC Interpretations → componentOf → IFRS literature hierarchy ⓘ

linked to: International Financial Reporting Standards

IFRIC Interpretations → relatedTo → IFRS Standards ⓘ

linked to: International Financial Reporting Standards

IFRIC Interpretations → relatedTo → IASB Standards ⓘ

linked to: International Financial Reporting Standards

SIC Interpretations → appliesTo → International Financial Reporting Standards ⓘ

SIC Interpretations → appliesTo → International Accounting Standards ⓘ

linked to: International Financial Reporting Standards

IAS 16 Property, Plant and Equipment → partOf → International Financial Reporting Standards ⓘ

IFRS Conceptual Framework for Financial Reporting → appliesTo → International Financial Reporting Standards ⓘ

IFRS Conceptual Framework for Financial Reporting → isNot → IFRS Standard ⓘ

linked to: International Financial Reporting Standards

IFRS 10 Consolidated Financial Statements → partOf → IFRS Standards ⓘ

linked to: International Financial Reporting Standards

IFRS 11 Joint Arrangements → partOf → IFRS Standards ⓘ

linked to: International Financial Reporting Standards

Conceptual Framework for Financial Reporting → associatedWith → International Financial Reporting Standards ⓘ

International Accounting Standards → partOf → International Financial Reporting Standards framework ⓘ

subject linked to: International Accounting Standards (IASs) issued by the IASC and adopted by the IASB

linked to: International Financial Reporting Standards

International Accounting Standards → replacedBy → International Financial Reporting Standards ⓘ

subject linked to: International Accounting Standards (IASs) issued by the IASC and adopted by the IASB

IAS 1 Presentation of Financial Statements → partOf → International Financial Reporting Standards ⓘ

IAS 37 Provisions, Contingent Liabilities and Contingent Assets → partOf → International Financial Reporting Standards ⓘ

International Public Sector Accounting Standards → relatedTo → International Financial Reporting Standards ⓘ

International Public Sector Accounting Standards → influencedBy → International Financial Reporting Standards ⓘ

Central Bank of Curaçao and Sint Maarten → follows → international financial reporting standards ⓘ

linked to: International Financial Reporting Standards

Department of Accounting, Faculty of Economics and Business, University of Indonesia → uses → International Financial Reporting Standards ⓘ

subject linked to: Department of Accounting

All labels observed (18)

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Statements (77)

How these facts were elicited Show

Referenced by (39)

How this entity was disambiguated

How these facts were elicited