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LI F T I N SP E C TO RS AS S O CI ATI O N O F SO U TH AF R I C A ES AB L I SH E D 1 996 October 2018EducomTECHNICAL EDUCATION COMMUNICATIONJournal No.134NATIONAL EXECUTIVE COMMITTEE: Chairman: Ronnie

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How to fill out a comparison of ifrs

01

To fill out a comparison of IFRS, follow these steps:

02

Begin by gathering all relevant financial statements and reports that are prepared under IFRS.

03

Identify the specific areas or aspects of the financial statements that you want to compare.

04

Prepare a table or spreadsheet where you can list the items that you want to compare.

05

Divide the table or spreadsheet into columns for each financial statement or report that you have collected.

06

Fill out the table by entering the corresponding values or figures for each item in the respective columns.

07

Analyze the data and identify any significant differences or similarities between the IFRS financial statements.

08

Document your findings and observations in a clear and concise manner.

09

Summarize the key points and conclusions of the comparison in a separate section or report.

10

Review and proofread your comparison to ensure accuracy and completeness.

11

Share the comparison with relevant stakeholders or individuals who may benefit from the insights gained.

12

Update the comparison regularly as new financial statements or reports become available.

Who needs a comparison of ifrs?

01

A comparison of IFRS may be needed by:

02

- Accounting professionals who want to understand the differences between IFRS and other accounting frameworks.

03

- Companies or organizations that operate internationally and need to prepare financial statements under IFRS.

04

- Investors or analysts who want to evaluate the financial performance and position of companies using IFRS standards.

05

- Regulators or standard-setting bodies who want to compare the effectiveness or impact of IFRS in different jurisdictions.

06

- Researchers or academic professionals who are studying or analyzing the implementation and adoption of IFRS globally.

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What is a comparison of ifrs?

A comparison of IFRS is a detailed analysis of how a company's financial statements would look if they were prepared using International Financial Reporting Standards (IFRS) instead of the local accounting standards.

Who is required to file a comparison of ifrs?

Companies that are required to follow IFRS reporting standards or are considering transitioning to IFRS are required to file a comparison of IFRS.

How to fill out a comparison of ifrs?

To fill out a comparison of IFRS, companies need to prepare their financial statements using IFRS accounting principles and compare them to their original financial statements prepared using local accounting standards.

What is the purpose of a comparison of ifrs?

The purpose of a comparison of IFRS is to show stakeholders how a company's financial position and performance would differ if IFRS accounting standards were applied.

What information must be reported on a comparison of ifrs?

A comparison of IFRS must include detailed financial statements prepared using IFRS principles, along with explanations of any differences between the IFRS and local accounting standards.

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