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March

Table shows growing use of IAS for domestic reporting purposes

28 Mar 2002

We have posted a Table Summarising the Global Use of IAS as the primary GAAP by listed domestic companies in their consolidated financial statements for investor reporting purposes. .

We have posted a Table Summarising the Global Use of IAS as the primary GAAP by listed domestic companies in their consolidated financial statements for investor reporting purposes.

IVSC Alert on valuation issues in transition to IAS

27 Mar 2002

The International Valuation Standards Committee has issued an Alert (PDF 29k) on valuation issues that will arise in Europe in transition from national GAAP to IAS.

Click here for Information about IVSC.

IASB Bound Volume 2002 can be ordered now

27 Mar 2002

IASB will print its 2002 Bound Volume of Standards and Interpretations in mid-April.

They are taking advance orders by email now. Their priority will be to despatch copies to subscribers and some others first, then to process advance orders received. Given the volume of orders to be despatched it will take several weeks for shipping, plus delivery time. There will be a single price for the 2002 Bound Volume: £47 or US$73 (shipping included). You can place an advance order only by sending an email with shipping details and credit card information to publications@iasb.org.uk. Advance orders cannot be done via IASB's website.

IASB meeting dates announced

27 Mar 2002

IASB will hold its September meeting at the FASB offices in Norwalk, Connecticut, USA.

Upcoming IASB meeting dates:
  • 17-19 April 2002, London, UK [subsequently extended to 16 April also]
  • 20-24 May 2002, London, UK (20-21 May with chairs of National Standard Setters)
  • 17-21 June 2002, Berlin, Germany (20-21 June with the Standards Advisory Council)
  • 17-19 July 2002, London, UK
  • 18-20 September 2002, Norwalk, CT, USA
You can always find information about Upcoming Meetings and Past Meetings on .

IAS: A Practical Guide to Financial Reporting

27 Mar 2002

We are making available the electronic version of International Accounting Standards: A Practical Guide to Financial Reporting, by Deloitte Touche Tohmatsu, second edition, published December 2001. This 224 page book includes: summaries of all current standards, model financial statements, and a presentation and disclosure checklist. .

We are making available the electronic version of International Accounting Standards: A Practical Guide to Financial Reporting, by Deloitte Touche Tohmatsu, second edition, published December 2001. This 224 page book includes:

  • summaries of all current standards,
  • model financial statements, and
  • a presentation and disclosure checklist.

Our views on IASB's 'asset ceiling' exposure draft

27 Mar 2002

We have posted the Deloitte Touche Tohmatsu (PDF 15k) on IASB's exposure draft, Proposed Amendment to IAS 19, Employee Benefits: The Asset Ceiling.

Click here for Project Description.

Comparison of South African GAAP and IAS

27 Mar 2002

We have updated our Comparison of South African GAAP and IAS as of 15 March 2002. Click for further information about South African GAAP. .

We have updated our Comparison of South African GAAP and IAS as of 15 March 2002. Click for further information about South African GAAP.

Greenspan calls for expensing stock options

27 Mar 2002

In a (PDF 47k) yesterday, US Federal Reserve Board Chairman Alan Greenspan urged that companies recognise the fair value of stock options as compensation expense.

IASB is addressing this issue in its project on Share-Based Payment. Mr. Greenspan said:

The current accounting for options has created some perverse effects on the quality of corporate disclosures that, arguably, is further complicating the evaluation of earnings and hence diminishing the effectiveness of published income statements in supporting good corporate governance. The failure to include the value of most stock-option grants as employee compensation and, hence, to subtract them from pretax profits, has increased reported earnings and presumably stock prices....

The Federal Reserve staff estimates that the substitution of unexpensed option grants for cash compensation added about 2-1/2 percentage points to reported annual growth in earnings of our larger corporations between 1995 and 2000. Many argue that this distortion to reported earnings growth contributed to a misallocation of capital investment, especially in high-tech firms.

IASB will not issue printed copies of IFRIC drafts and Interpretations

26 Mar 2002

When it issued SIC-32, IASB announced that, in the future, it will no longer distribute printed copies of IFRIC Interpretations and Draft Interpretations as they are approved and issued.

Instead, subscribers to IASB's Comprehensive Subscription Service will have access only to electronic versions of IFRIC documents, which can be downloaded immediately after their approval and issue from the IASB Website.

 

IASB publishes SIC-32 on website costs

26 Mar 2002

IASB has published SIC-32, Intangible Assets - Web Site Costs.

SIC-32 addresses the appropriate accounting treatment for internal expenditure for the following phases of website development: planning, application and infrastructure development, content development, and operating.

Click for:

 

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.