IFRS Taxonomy What Is the IFRS Taxonomy and How Is It Used

question 8

Essay

IFRS taxonomy
What is the IFRS taxonomy and how is it used?

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Definitions:

Business Expansion

The process of increasing the scale or scope of a company's operations, often through new ventures, acquisitions, or increased market share.

Retained Earnings

The portion of a company's profits that are kept or retained and not paid out as dividends to shareholders.

Retained Earnings

The amount of net earnings remaining for the company after distributing dividends to its shareholders.

Shareholders' Equity

The ownership interest of shareholders in a company, calculated as the company's total assets minus its total liabilities.