Accrual-basis accounting is optional under IFRS.

Accrual-basis accounting:

(a) is optional under IFRS.

(b) results in companies recording transactions that change a company's financial statements in the period in which events occur.

(c) has been eliminated as a result of the IASB/FASB joint project on revenue recognition.

(d) is not consistent with the IASB conceptual framework.

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