Under International Financial Reporting Standards (IFRS) the cash-basis method of accounting is accepted.

Name: Under International Financial Reporting Standards (IFRS) the cash-basis method of accounting is accepted.
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Under IFRS, the accrual basis of accounting is the required method for reporting financial information. The cash method is allowed for very small businesses or for some specific industries, but it is not the accepted standard method.

Under International Financial Reporting Standards (IFRS) the Cash-Basis Method of Accounting