Taxonomy is a term that is getting an increasing amount of attention.
The International Accounting Standards Board (the Board) has decided to improve the communication effectiveness of financial statements, including their format. Developing the IFRS Taxonomy™ is a part of that work.
For some, it is still a technical and difficult-to-grasp concept. However, IFRS Taxonomy doesn't have to be taxing.
In this webcast, Board member Stephen Cooper explains the IFRS Taxonomy and its benefits. He also tells how people can find out more about and get involved in developing the IFRS Taxonomy.
This webcast is also available on YouTube to view, share and embed.