IFAC standards for accountants in business
13 Jun 2007
The Professional Accountants in Business Committee of the International Federation of Accountants has released the following documents: An exposure draft of the Preface to IFAC's International Management Accounting Statements and International Good Practice Guidance, which sets out the objective, scope, and due process of two new types of guidance: International Management Accounting Statements and International Good Practice Guidance.
- An exposure draft of the Preface to IFAC's International Management Accounting Statements and International Good Practice Guidance, which sets out the objective, scope, and due process of two new types of guidance: International Management Accounting Statements and International Good Practice Guidance. The PAIB Committee seeks input on the approach to representing good practice to professional accountants in business and the proposed document types. Comment deadline is 12 September 2007.
- The first International Good Practice Guidance Defining and Developing an Effective Code of Conduct for Organizations. This guidance will assist professional accountants and their organizations in developing and implementing a code of conduct within a values-based culture.
- An exposure draft of a proposed International Management Accounting Statement titled Project Appraisal Using Discounted Cash Flow. The Statement aims to support professional accountants in business in applying and promoting the use of discounted cash flow and net present value to evaluate investments. Comment deadline is 12 September 2007.
