What is the core objective of IFRS in Financial Statements?

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Below are objective of IFRS in Financial Statements?

a) to develop, in the public interest, a single set of high quality, understandable and enforceable global accounting standards that require high quality, transparent and comparable information in financial statements and other financial reporting to help participants in the world's capital markets and other users make economic decisions; (b) to promote the use and rigorous application of those standards; and (c) in fulfilling the objectives associated with (a) and (b), to take account of, as appropriate, the special needs of small and medium-sized entities and emerging economies; and (d) to bring about convergence of national accounting standards and International Accounting Standards and International Financial Reporting Standards to high quality solutions.

To present a standard way for the accounting processing and  make the financial statement comparable

International Financial Reporting Standards (IFRS) is a set of accounting standards developed by an independent, not-for-profit organization called the International Accounting Standards Board (IASB).

The core objective of IFRS is to provide a global framework for how public companies prepare and disclose their financial statements. IFRS provides general guidance for the preparation of financial statements, rather than setting rules for industry-specific reporting.

The core objective of IFRS is making financial statements more transparent and  accurate.

Financial statements are a structured representation of the financial positions and financial performance of an entity. The objective of financial statements is to provide information about the financial position, financial performance and cash flows of an entity that is useful to a wide range of users in making economic decisions. Financial statements also show the results of the management's stewardship of the resources entrusted to it.

To meet this objective, financial statements provide information about an entity's:

1. assets;
2. liabilities;
3. equity;
4. income and expenses, including gains and losses;
5. contributions by and distributions to owners in their capacity as owners; and
6. cash flows.

Thank you for your kindness invitation.

I agree with all previous answers.

Regards

The objective of IFRS is to bring harmonization & uniformity in the financial statements prepared in different countries across the world so that investors & all stakeholders can have financial information of the entities.

Objective of IFRS in financial statements is to bring standardization around the world while making financial statement

agree with Mr. Ahmed Mostafa & Mr. Anil Lalwani

to show standard way for accounting processing,

make financial statement comparable,

development accounting filed,

to make financial statement processing is the same in all company follow IFRS

Best & Regards

Yes I agree with the openion of Mr Anil and other Colleagues.

I agree with the previous answers : IFRS is a set of accounting standards and provides the global framework on how entities should prepare and present their financial statements for uniformity as well high quality and reliable Financial statement.