IFRS
E123138
IFRS (International Financial Reporting Standards) is a globally used set of accounting standards designed to bring transparency, comparability, and consistency to financial statements across different countries.
All labels observed (7)
How this entity was disambiguated
This entity first appeared as the object of triple T1080058 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: IFRS Context triple: [US GAAP, contrastedWith, IFRS]
-
A.
US GAAP
US GAAP is the comprehensive set of accounting principles and standards that govern how U.S. companies prepare and present their financial statements.
-
B.
ISO standards
ISO standards are internationally agreed-upon specifications and guidelines developed by the International Organization for Standardization to ensure quality, safety, efficiency, and interoperability across products, services, and systems.
-
C.
ISO 15022
ISO 15022 is an international standard that defines a structured, machine-readable format for securities messaging used globally in financial markets.
-
D.
ISO Statutes
The ISO Statutes are the foundational governing rules that define the structure, objectives, and decision-making processes of the International Organization for Standardization.
-
E.
ISO 3297
ISO 3297 is the international standard that defines the structure, assignment, and use of the International Standard Serial Number (ISSN) for identifying serial publications.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: IFRS Target entity description: IFRS (International Financial Reporting Standards) is a globally used set of accounting standards designed to bring transparency, comparability, and consistency to financial statements across different countries.
-
A.
US GAAP
US GAAP is the comprehensive set of accounting principles and standards that govern how U.S. companies prepare and present their financial statements.
-
B.
ISO standards
ISO standards are internationally agreed-upon specifications and guidelines developed by the International Organization for Standardization to ensure quality, safety, efficiency, and interoperability across products, services, and systems.
-
C.
ISO 15022
ISO 15022 is an international standard that defines a structured, machine-readable format for securities messaging used globally in financial markets.
-
D.
ISO Statutes
The ISO Statutes are the foundational governing rules that define the structure, objectives, and decision-making processes of the International Organization for Standardization.
-
E.
ISO 3297
ISO 3297 is the international standard that defines the structure, assignment, and use of the International Standard Serial Number (ISSN) for identifying serial publications.
- F. None of above. chosen
Statements (58)
| Predicate | Object |
|---|---|
| instanceOf |
accounting standard
ⓘ
financial reporting framework ⓘ international standard ⓘ |
| abbreviationOf | International Financial Reporting Standards ⓘ |
| appliesTo |
general purpose financial statements
ⓘ
listed companies in many jurisdictions ⓘ publicly accountable entities ⓘ |
| component |
IAS Standards
ⓘ
IFRIC Interpretations ⓘ International Financial Reporting Standards ⓘ
surface form:
IFRS Standards
SIC Interpretations ⓘ |
| developedBy | International Accounting Standards Board ⓘ |
| emphasizes |
fair value measurement in many areas
ⓘ
principles-based standards ⓘ substance over form ⓘ |
| firstIssuedByIASBIn | 2001 ⓘ |
| fullName | International Financial Reporting Standards ⓘ |
| governedBy | IFRS Conceptual Framework for Financial Reporting ⓘ |
| governs |
disclosure in financial statements
ⓘ
measurement of assets ⓘ measurement of liabilities ⓘ presentation of financial statements ⓘ recognition of assets ⓘ recognition of liabilities ⓘ |
| includesStandard |
IFRS
self-linksurface differs
ⓘ
surface form:
IAS 1 Presentation of Financial Statements
IAS 12 Income Taxes ⓘ IAS 16 Property, Plant and Equipment ⓘ IAS 36 Impairment of Assets ⓘ IFRS 15 Revenue from Contracts with Customers ⓘ IFRS 16 Leases ⓘ IFRS self-linksurface differs ⓘ
surface form:
IFRS 17 Insurance Contracts
IFRS self-linksurface differs ⓘ
surface form:
IFRS 9 Financial Instruments
|
| influenced | IFRS for SMEs ⓘ |
| issuedBy | International Accounting Standards Board ⓘ |
| language | English (official text) ⓘ |
| notFullyAdoptedIn |
United States of America
ⓘ
surface form:
United States
|
| originatedFrom |
International Financial Reporting Standards
ⓘ
surface form:
International Accounting Standards issued by IASC
|
| overseenBy | IFRS Foundation ⓘ |
| purpose |
to enhance transparency in financial reporting
ⓘ
to improve comparability of financial statements ⓘ to improve consistency of financial reporting across countries ⓘ to provide a common global language for business affairs so that company accounts are understandable and comparable across international boundaries ⓘ |
| relatedTo |
IFRS for SMEs
ⓘ
surface form:
IFRS for SMEs Standard
International Accounting Standards (IASs) issued by the IASC and adopted by the IASB ⓘ
surface form:
International Accounting Standards
US GAAP ⓘ |
| replaced | many national GAAPs in adopting countries ⓘ |
| requires |
accrual basis of accounting for most transactions
ⓘ
comparative information in financial statements ⓘ disclosure of key sources of estimation uncertainty ⓘ disclosure of significant accounting policies ⓘ |
| updatedBy | annual improvements process of IASB ⓘ |
| usedIn |
Australia
ⓘ
Canada ⓘ European Union ⓘ United Kingdom ⓘ many countries in Africa ⓘ many countries in Asia ⓘ many countries in South America ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: IFRS Description of subject: IFRS (International Financial Reporting Standards) is a globally used set of accounting standards designed to bring transparency, comparability, and consistency to financial statements across different countries.
Referenced by (8)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
IFRS 9 Financial Instruments
this entity surface form:
IFRS 17 Insurance Contracts
this entity surface form:
IAS 1 Presentation of Financial Statements
this entity surface form:
IFRS 1 First-time Adoption of International Financial Reporting Standards
this entity surface form:
IFRS 13 Fair Value Measurement
this entity surface form:
IAS 38 Intangible Assets