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News

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November 2006 edition of EITF Roundup

02 May 2006

We have posted the (PDF 134k), which provides an overview of the issues discussed, consensuses reached, and administrative matters discussed at the 16 November 2006 meeting of FASB's Emerging Issues Task Force.

You will find past issues Here. Issues covered in the September 2006 edition include:
  • Issue No. 06-6, Debtor's Accounting for a Modification (or Exchange) of Convertible Debt Instruments
  • Issue No. 06-7, Issuer's Accounting for a Previously Bifurcated Conversion Option in a Convertible Debt Instrument When the Conversion Option No Longer Meets the Bifurcation Criteria in FASB Statement No. 133, Accounting for Derivative Instruments and Hedging Activities
  • Issue No. 06-8, Application of the Assessment of a Buyer's Continuing Investment Under FASB Statement No. 66, Sales of Real Estate, for Sales of Condominiums
  • Issue No. 06-9, Reporting a Change in (or Elimination of) a Previously Existing Difference Between the Fiscal Year-End of a Parent Company and That of a Consolidated Entity or Between the Reporting Period of an Investor and That of an Equity Method Investee
  • Issue No. 06-10, Accounting for Deferred Compensation and Postretirement Benefit Aspects of Collateral Assignment Split-Dollar Life Insurance Arrangements Issue No. 06-11, Accounting for Income Tax Benefits of Dividends on Share-Based Payment Awards
  • Issue No. 06-12, Application of AICPA Audit and Accounting Guide, Brokers and Dealers in Securities, to Entities That Engage in Commodity Trading Activities and Related Issues
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IAESB seeks comments on draft strategic plan

02 May 2006

The International Accounting Education Standards Board (IAESB) is seeking comments on an exposure draft of its Strategic and Operational Plan for the Period 2007-2009 (PDF 98k).

The IAESB proposes to undertake three high priority activities, beginning in 2007. These are:
  • Conducting a fundamental review of the Framework for International Education Statements (IESs), considering developments in accounting education and the accountancy profession as a whole since this was first written;
  • Developing a benchmarking methodology to help IFAC members and others achieve the measurable implementation of IESs; and
  • Reviewing existing IESs to determine areas where the clarity of standards could be improved and/or additional guidance most usefully developed.
Comments on the exposure draft are requested by 28 February 2007. Click for Press Release (PDF 82k).
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Preparing for IAS seen as a critical US challenge

30 Dec 2000

Number 2 in the "ten most critical financial reporting challenges facing US public companies for the year 2001" identified by the Financial Executives Institute: "International Accounting Standards -- Prepare for changes in domestic GAAP that will ensure compatibility among the accounting principles of countries around the world." FEI News Release (PDF 23k). .

Number 2 in the "ten most critical financial reporting challenges facing US public companies for the year 2001" identified by the Financial Executives Institute: "International Accounting Standards -- Prepare for changes in domestic GAAP that will ensure compatibility among the accounting principles of countries around the world." FEI News Release (PDF 23k).

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Country updates on accounting standards added to IAS Plus website

16 Dec 2000

We've begun to add country updates on accounting standards to IAS Plus.

The country updates can be found on our jurisdiction pages.

Correction list for hyphenation

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