International Accounting Standards
International Accounting Standards (IASs) are a set of accounting standards that were issued between 1973 and 2001. In April 2001 the International Accounting Standards Board (IASB) adopted all IASs and continued the development, calling new the standards International Financial Reporting Standards (IFRSs).
Although IAS's are no longer produced, they are still in effect unless replaced by an IFRS, whether in its entirety or part of.
International Financial Reporting Standards in a broad sense comprise:
Framework for the Preparation and Presentation of Financial Statements - stating basic principles and grounds of IFRS
IAS - standards issued before 2001
IFRS - standards issued after 2001
SIC - interpretations of accounting standards, giving specific guidance on unclear issues
IFRIC - newer interpretations, issued after 2001.
This consultancy was comissioned by CTA to provide analysis and input in order to evaluate the government of Mozambique’s accounting standards proposal: “Plano Geral de Contabilidade” - PGC.