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  • Comparison of GAAP in four NAFTA countries and IAS

    22 Dec 2001

    Accounting standard-setters in four North American Free Trade Agreement (NAFTA) countries have participated in the third edition of a study, just published, of Significant Differences in GAAP in Canada, Chile, Mexico, and the United States.

  • Project files updated for recent decisions

    21 Dec 2001

    We have updated our pages for the following projects to reflect Board decisions earlier this week: Revisions to IAS 39 Improvements to Existing Standards Business Combinations Insurance Contracts .

  • ECOFIN, European Parliament discuss the proposed IAS regulation

    20 Dec 2001

    ECOFIN, the European Council of Finance Ministers, met on 13 December 2001 and agreed a 'general orientation' on a proposed Regulation that would require all EU listed companies, including banks and insurance companies, to prepare their consolidated financial statements using IAS.

  • IASB approves seven new Interpretations

    20 Dec 2001

    At its meeting this week, the IASB Board approved the following final Interpretations: SIC-27, Evaluating the Substance of Transactions in the Legal Form of a Lease; SIC-28, Business Combinations - 'Date of Exchange' and Fair Value of Equity Instruments; SIC-29, Disclosure - Service Concession Agreements; SIC-30, Reporting Currency - Translation from Measurement Currency to Presentation Currency (some changes in the wording to a number of paragraphs of the Interpretation are to be made, but the substance of these paragraphs remains unchanged); SIC-31, Revenue - Barter Transactions Involving Advertising Services; SIC-33, Consolidation and Equity Method - Potential Voting Rights Redeemable by Holder; SIC 34, Financial Instruments - Instruments or Rights Redeemable by the Holder (was approved, but an effective date has not yet been set). SIC-32, Intangible Assets - Website Costs, was tentatively approved.

  • IASCF Trustees appoint the members, chairman of IFRIC

    18 Dec 2001

    The Trustees of the IASC Foundation have appointed the 12 members of IASB's new interpretations committee -- proposed to be called the International Financial Reporting Interpretations Committee (IFRIC) -- which will replace the former Standing Interpretations Committee (SIC).

  • IASB member speaks on Asian IAS issues

    15 Dec 2001

    IASB member Tatsumi Yamada, who is from Japan, spoke on 13 December in Beijing at an International Symposium on Accounting Standards sponsored by China's Ministry of Finance.