On 17 February 2005, 23 members of the US House of Representatives introduced legislation that would impose a three-year moratorium on the SEC's enforcement of FASB Statement 123. FAS 123 was revised in December 2004 to require all companies to account for all share-based payments, including stock options, at fair value – similarly to IFRS 2. During the three years, the SEC would be required to study the impact that expensing options may have on the US economy and on 'small entrepreneurial businesses'. The bill would require listed companies that offer stock options to disclose "plain-English descriptions of share value dilution, expanded and more prominent disclosure of stock option-related information, and a summary of stock options granted to the five most highly compensated officers". The bill would not prohibit voluntary expensing of stock options by SEC registrants. The Senate must also pass the same legislation before the bill becomes law. The new proposal, known as HR 913, is similar to a bill (HR 3574) that was approved by the House in July 2004 by a vote of 312 to 111, with 10 nonvoting. The US Senate did not enact an equivalent of HR 3574, so it did not become law. HR 913 has been referred to the House Committee on Financial Services.

Click here for Complete List of the 19 IASCF Trustees. Click here for Press Release (PDF 61k), which includes short bios of the three new trustees.

While not all sections of the site are completed yet, already you will find the latest news, summaries of many of the standards and interpretations, and various Deloitte publications, all in German. And, as a reminder, there's also IASPlus in Spanish.

Auf www.iasplus.de wollen wir Ihnen Informationen und Neuigkeiten aus der Welt der internationalen Rechnungslegung zeitnah und kostenfrei in deutscher Sprache zur Verfûgung stellen. Als Ausgangsbasis dienen uns die Dokumente von IAS Plus.com, die von unserem deutschen IFRS Centre of Excellence nach Mandantenrelevanz ausgewählt und ins Deutsche ûbersetzt werden.

We have updated the project pages for the following agenda projects to reflect deliberations at the Board's February 2005 meeting:

• Accounting Standards for Non-Publicly Accountable Entities (NPAEs) (formerly called Small and Medium-sized Entities or SMEs)
• Amendments to IAS 39: Cash Flow Hedge Accounting of Forecast Intra-group Transactions
• Amendments to IAS 39: The Fair Value Option
• Amendments to IAS 39 and IFRS 4: Financial Guarantees and Credit Insurance
• Business Combinations II - Purchase Method Procedures
• Conceptual Framework
• Convergence of IFRSs and US GAAP – Income Taxes
• ED 7 Financial Instruments: Disclosures
• Insurance Contracts - Phase 2
• Management Commentary (sometimes called Management Discussion and Analysis)

We have created separate project pages for each component of the IFRS-US GAAP convergence project:

• IAS 12 Income Taxes
• IAS 14 Segment Reporting
• IAS 19 Employee Benefits
• IAS 20 Government Grants
• IAS 37 Provisions
• Asset Disposals and Discontinued Operations

The newsletter, which is published quarterly, reports on the recent activities of the IASB and the IFRIC and also on worldwide issues and events relating to international financial reporting. The Asia-Pacific edition has the same news content as the Global Edition plus accounting standards updates for Asia-Pacific countries.

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You will find all Past Issues Here.

The tenth webcast was run on Thursday 17 February 2005 and covered:

• IAS 21 The Effects of Changes in Foreign Exchange Rates,
• IAS 29 Financial Reporting in Hyperinflationary Economies,
• IAS 10 Events After the Balance Sheet Date,
• IAS 20 Accounting for Government Grants and Disclosure of Government Assistance,
• IAS 33 Earnings per Share, and
• IAS 37 Provisions, Contingent Liabilities and Contingent Assets.

To access the recording Click Here. The recording of each session will be available on this website for a period of at least 3 to 4 weeks from the date of the presentation. Links to past sessions may be found on our United Kingdom Page. The recording is no longer available online.

We have combined all of our notes from the IASB's meeting on 15-17 February 2005 in a single Combined February 2005 Board Meeting Page.

We have combined all of our notes from the IASB's meeting on 15-17 February 2005 in a single Combined February 2005 Board Meeting Page.

We have combined all of our notes from the IASB's meeting on 15-17 February 2005 in a single Combined February 2005 Board Meeting Page.