It is the accounting standard which international accounting standard conference (IASB) sets. It does not depend on the standard of specific country, as the accounting standard which worldwide is common being set & being published. From 2005 it is applied by all presentation companies with EU , application country 100 countries to exceed ( is becoming even worldwide worldwide standard of accounting standard.
The attempt which enacts worldwide common financial affairs statements compilation standard starts in international accounting standard of international accounting standard commission (IASC) of 1973establishment, but as for IASB when that IASC is reorganized in 2001, with the job system of the permanent establishment which is installed, the standard book which is decided here is "international financial report standard" (IFRS).
IASB is the schedule which keeps doing the revision of the current international accounting standard book (IAS) with IASC in addition to the publication of the neotype book (IFRS), but existence IAS until it is abolished by neotype being still effective, also name as IAS, has remained. Because of that, "IAS/IFRS" "IFRS/IAS" there are times when it is inscribed as a general term of new standard. In addition, among US there is many also a thing which expresses new standard collectively.
When accounting standard/you mention accounting principles generally in US, it is recognized, as those which deal with general enterprise, but IFRS as a standard of compilation of financial affairs statements of non profit-making organization and the institute and disclosure item is designed in such a way that it can be applied.
We have announced, that international accounting standard conference (IASB) and the indian accounting standard commission (ASBJ), agreed to losing the difference of IFRS and the indian standard to 2011 June 30th in 2007 August, job is advanced.
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