Difference between IFRS and Accounting Standards. any 5 points

1.	Difference between IFRS and Accounting Standards. any 5 points
Answer» \tIAS stands for International Accounting Standards, while IFRS refers to International Financial Reporting Standards.\tIAS standards were published between 1973 and 2001, while IFRS standards were published from 2001 onwards.\tIAS standards were issued by the IASC, while the IFRS are issued by the IASB, which succeeded the IASC.\tPrinciples of the IFRS take precedence if there’s contradiction with those of the IAS, and this results in the IAS principles being dropped.

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