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  • IASB proposes 'asset ceiling' amendment to IAS 19

    25 Feb 2002

    IASB has published an exposure draft of a proposed amendment to IAS 19 'Employee Benefits' to prevent a counter-intuitive result produced by the interaction of two aspects of IAS 19 - the option to defer gains and losses in the pension fund and the limit on the amount that can be recognised as an asset (the 'asset ceiling').

  • Project pages updated to reflect February decisions

    25 Feb 2002

    We have updated our agenda project pages to reflect IASB decisions at its meeting last week on the following projects: Business Combinations, First-Time Application of IFRS, IAS 19 Amendment, IAS 39 Amendments, Improvements Project, Insurance Contracts, Performance Reporting, and Share-Based Payment. .

  • Fix 'damaged' financial reporting system: Financial Analysts

    22 Feb 2002

    The Association for Investment Management and Research has taken full-page ads in the Wall Street Journal and Washington Post with its views on How to Fix a Damaged Financial Reporting System (PDF 259k): For the past 20 years, AIMR has advocated that issuers should not be allowed to tailor transactions to get an accounting treatment that suits them.

  • FEI testimony criticises FASB, IASB support of JWG proposals

    21 Feb 2002

    In their Testimony (PDF 84k) before the ongoing US Congressional hearings on "Are Current Financial Accounting Standards Protecting Investors", Financial Executives International called mark-to-market accounting for financial instruments flawed and criticised both FASB and IASB for publishing and "strongly supporting" the Joint Working Group Proposal.