IASB
Business & Finance abbreviation · Accounting
| Stands for | International Accounting Standards Board |
|---|---|
| Categories | Business & Finance |
IASB stands for International Accounting Standards Board, an accounting abbreviation.
Independent body based in London that develops and issues IFRS Accounting Standards, used by companies in most countries outside the United States. It operates under the oversight of the IFRS Foundation, a not-for-profit organization.
Example: The IASB issued IFRS 18 in 2024, replacing IAS 1 and introducing new required subtotals in the income statement.
Usage notes
Established in 2001 as the successor to the International Accounting Standards Committee (IASC). In 2021 the IFRS Foundation created a sister body, the International Sustainability Standards Board (ISSB), for sustainability disclosure standards. The IASB and FASB ran joint convergence projects in the 2000s and 2010s, including revenue recognition.
Related abbreviations
More accounting abbreviations
- GP – Gross profit
- GRN – Goods received note
- H1 – First half
- H2 – Second half
- HTM – Held to maturity
- IAS – International Accounting Standards
- ICFR – Internal control over financial reporting
- IFRS – International Financial Reporting Standards
- IPSAS – International Public Sector Accounting Standards
- JE – Journal entry
- LCM – Lower of cost or market
- LIFO – Last in, first out