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ARC unanimously recommends IFRS 2 in Europe

  • European Union (old) Image

22 Dec 2004

At its meeting in Brussels on 20 December 2004, the European Commission's Accounting Regulatory Committee (ARC) voted unanimously to recommend the adoption of IFRS 2 Share-based Payment for use in Europe.

One of ARC's 25 member countries (Hungary) abstained because of a language translation issue. IFRS 2 requires recognition of an expense based on the fair value of all share-based payments made by an entity, including employee stock options. To date, ARC has endorsed all of the 2003-2004 improved versions of IASs 1-41 (with two sections carved out of IAS 39) and IFRSs 1-5.

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