Nepal Financial Reporting Standards

Nepal Financial Reporting Standards (NFRS) are thorough financial reporting guidelines established by the Accounting Standards Board of Nepal. The NFRS corresponds to the 2018 version of the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). These standards are used for the preparation and presentation of financial statements by entities.

The ASBN has issued the following NFRS and NAS for reporting purposes;

• Nepal Financial Reporting Standards (NFRS full)
• Nepal Financial Reporting Standards for SMEs (NFRS for SMEs)
• Nepal Accounting Standards for Micro Entity (NAS for MEs)
• Nepal Accounting Standard for Not-for-profit organizations (NAS for NPOs)

The Accounting Standards Board of Nepal issued the NFRS in 2013. Currently, every company listed on the Nepal Stock Exchange prepares its financial statements in compliance with NFRS.

Course Objectives

• Familiarizing accounting and finance professionals with NFRS and its application.
• Ensuring uniformity in the accounting reporting system.