[Major Revamp to Financial Reporting proposed by IASB]

The purposes of changes to financial statements are to make the financial statements more comparable and with greater transparency. According to IASB Chairman Hans Hoogervorst, these proposals constitute game-changer in the comparability and usefulness of financial statements. The proposals cover three main areas and these will result in a new IFRS standard on general presentation and disclosure requirements.

Want to know more about the proposal of changes to the financial statements? Click the link and find out the answer : https://www.accountingtoday.com/news/iasb-proposes-major-revamp-to-financial-reporting

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