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November

  • IFRIC will meet on 2 December 2004

    30 Nov 2004

    The International Financial Reporting Interpretations Committee will meet at the IASB's offices in London on Thursday, 2 December 2004. The agenda for the meeting is as follows: IFRIC Interpretation 5 Rights to Interests Arising from Decommissioning, Restoration and Environmental Funds Accounting for Service Concessions – The IFRIC will consider three draft Interpretations with a view to agreeing them for publication: D11 Service Concession Arrangements - Determining the Accounting Model D12 Service Concession Arrangements - The Financial Asset Model D13 Service Concession Arrangements - The Intangible Asset Model IFRS 2 - Changes in Employee Contributions to ESPPs Scope of IFRS 2 IFRS 2 - Treasury Share Transactions and Group Transactions IAS 39 Financial Instruments: Recognition and Measurement - Reassessment of Embedded Derivatives .

  • IFRIC Interpretation 2 on shares in co-ops

    26 Nov 2004

    The International Financial Reporting Interpretations Committee (IFRIC) has issued Interpretation IFRIC 2 'Members' Shares in Co-operative Entities and Similar Instruments' (co-ops).

  • IFRIC draft interpretation on waste equipment

    26 Nov 2004

    The International Financial Reporting Interpretations Committee (IFRIC) has invited comments on draft interpretation IFRIC D10 'Liabilities Arising from Participating in a Specific Market - Waste Electrical and Electronic Equipment'.

  • FASB moves inventory standard toward IAS 2

    25 Nov 2004

    The US Financial Accounting Standards Board has amended the US accounting standard on inventories to clarify that abnormal amounts of idle facility expense, freight, handling costs, and wasted materials (spoilage) should be recognised as current-period charges and to require the allocation of fixed production overheads to inventory based on the normal capacity of the production facilities.

  • Irish Institute welcomes endorsement of IAS 39

    25 Nov 2004

    The Institute of Chartered Accountants in Ireland (ICAI) has welcomed the decision taken by European Commission to endorse an amended IAS 39 "as providing some clarity on the operation of the standard for now while recognising that this 'carved out' option should only have a short shelf life".

  • BOE governor urges fresh look at IAS 39

    24 Nov 2004

    In remarks delivered at the 13th Central Banking Conference in London on 22 November 2004, Sir Andrew Large, Deputy Governor of the Bank of England, said that "the recent furore over IAS 39 - the international accounting standard for financial instruments - has resulted in a situation which all agree is unsatisfactory".

  • PCAOB staff Q&As on internal controls

    24 Nov 2004

    The US Public Company Accounting Oversight Board has published a third set of staff questions and answers related to PCAOB Auditing Standard No.