If you are wondering “What Is International Accounting Standards”, the answer is, it is a unit that makes it much easier to compare different businesses across the globe, boost trust and transparency in financial reporting and promote global investment and trade. The IAS Board is responsible to set the accounting standards across the world. IAS stands for international accounting standards. Different from…

IAS 19 Employee Benefits explains the accounting needs for employee benefits, like Short Term Employee Benefits (for example, annual leave, salaries, and wages), post-employment benefits like retirement benefits, plus other long-term benefits (for example, long service leave) and lastly termination benefits. The standard sets the theory that the…