May

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

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).

IFRSs in your Pocket 2006

01 May 2006

We have published the fifth edition of our popular guide to IFRSs – (PDF 403k).

This 96-page guide includes information about:
  • IASB structure and contact details.
  • Use of IFRSs around the world, including updates on Europe, Asia, USA, and Canada.
  • Summaries of each IASB Standard (through IFRS 7) and Interpretation (through IFRIC 9), as well as the Framework and the Preface to IFRSs.
  • Background and tentative decisions on all current IASB projects.
  • IASC and IASB chronology.
  • Other useful IASB-related information.
We are pleased to grant permission for accounting educators and students to print copies of the PDF file for educational purposes. Please contact your local Deloitte practice office to request a printed copy. You will find Links to our Many Other IFRS Publications here.

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