The full form of NFRS in accounting is Nepal Financial Reporting Standards.
These standards are designed to create a common global understanding of business operations, making company accounts understandable and comparable within Nepal. They aim to improve the quality and transparency of financial reporting in the country, aligning them with international best practices. This, in turn, facilitates better investment decisions and enhances the credibility of the Nepalese economy.
In essence, NFRS brings Nepal's accounting practices in line with global standards, promoting transparency and comparability.
