February

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Convergence of IPSASs and statistical reporting

01 Feb 2005

As part of its program to support convergence of International Public Sector Accounting Standards (IPSASs) and statistical bases of financial reporting, the International Public Sector Accounting Standards Board (IPSASB) has released a research report that identifies differences in the requirements of IPSASs and statistical reporting models.

The report, International Public Sector Accounting Standards (IPSASs) and Statistical Bases of Financial Reporting: An Analysis of Differences and Recommendations for Convergence, aims to reduce confusion for users of public sector financial reports caused by the differences between accounting and statistical models of financial reporting. The report may be downloaded from IFAC's Website.
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Special IAS Plus newsletter explains IFRS 6

01 Feb 2005

Deloitte's IFRS Global Office has published a Special Global Edition of our IAS Plus newsletter explaining (PDF 54k).

IFRS 6:
  • permits entities to continue to use their existing accounting policies for exploration and evaluation assets, provided that such policies result in information that is relevant and reliable; and
  • requires entities to assess any exploration and evaluation assets for impairment when facts and circumstances suggest that the carrying amount of the assets may exceed their recoverable amount. The recognition of impairment in respect of such assets is varied from that in IAS 36 Impairment of Assets but, once an impairment has been identified, it is measured in accordance with IAS 36.
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January 2005 edition of Accounting Roundup

01 Feb 2005

We have posted the (PDF 158k).

Accounting Roundup is prepared by the National Office Accounting Standards and Communications Group of Deloitte & Touche LLP (USA) to briefly describe key regulatory and professional developments that have recently occurred in the field of accounting and to provide links to locations where additional information can be found on each topic. You will find past issues Here.

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.