CARE College of Arts and Science organized a Guest Lecture on International Financial Reporting Standards for the first-year students on the 13th February 2021. The Speaker for the lecture was Mr. Sridhar TK, Director, Sahasri Singar Academy & Cost Accountant. The Programme began at 10:00 Am in the Google Meet.
V Dhanusha, First- year B.Com student, welcomed the audiences and the guest. Guest Lecturer Mr. Sridhar gave introductions about International Financial Reporting Standards (IFRS). He has specified major ideas on IFRS. He illustrated that IFRS is comparable, understandable, reliable and relevant as per the users internal or external. IAS were issued between 1973 and 2001 by the Board of the International Accounting Standards Committee (IASC). On 1 April 2001, the new International Accounting Standards Board took over from the IASC the responsibility for setting International Accounting Standards. The IASB has continued to develop standards calling the new standards International Financial Reporting Standards (IFRS). He further elucidated the objective of financial statements and the qualitative characteristics of financial statements. He highlighted the Measurement of the elements of financial statements, Requirements of IFRS, Adoption of IFRS, Framework for IFRS, Importance, Advantages and disadvantages of IFRS, and the List of the International Financial Reporting Standards (IFRSs) finally he summarized the IFRS. The students enlarged knowledge from him. Most of the students actively participated and interacted with him. He clarified their doubts on the topic. The lecture ended around 11:00 AM. V Dhanusha (I B.Com) gave a Vote of Thanks.