SIC

International Financial Reporting Interpretations Committee (IFRIC)
The International Financial Reporting Interpretations Committee (IFRIC) assists the International Accounting Standards Board (IASB) by providing guidance on the application and interpretation of International Financial Reporting Standards (IFRS).
Standard Industrial Classification (SIC) System
The Standard Industrial Classification (SIC) System is a federally designed standard numbering system that identifies companies by industry, providing essential information used by market researchers, securities analysts, and others. It is being replaced by the North American Industry Classification System (NAICS).
Standard Interpretations Committee (SIC)
The Standard Interpretations Committee (SIC), now known as the International Financial Reporting Interpretations Committee (IFRIC), was established by the International Accounting Standards Committee (IASC) to provide interpretations of International Financial Reporting Standards (IFRS). These interpretations aimed to standardize the application of accounting standards across various regions and industries.
Standard Interpretations Committee (SIC)
The Standard Interpretations Committee (SIC), also known as the IFRIC (International Financial Reporting Interpretations Committee), develops interpretations of accounting standards to address issues that are not specifically covered in International Financial Reporting Standards (IFRS).

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.