02 Mar 2001
The U.S.
27 Feb 2001
The Public Sector Committee (PSC) of the International Federation of Accountants (IFAC) is developing International Public Sector Accounting Standards (IPSAS) based on International Accounting Standards.
23 Feb 2001
Press releases have been issued by both The Institute of Chartered Accountants in Ireland (ICAI) and The Institute of Chartered Accountants in England and Wales (ICAEW) welcoming the European Commission's proposal for a regulation that would require all listed EU companies to prepare consolidated accounts in accordance with IAS.
The adoption of International Accounting Standards should be a great boon to European companies, particularly large multinationals, due to the reduced cost of compliance and raising capital. Transparency of financial reporting should benefit investors, who will be able to compare company performance more easily across the member states.
Brian Walsh, Chief Executive of the ICAI, said:
There are many compelling reasons for moving to IAS including marketability, cross border mergers and acquisitions, shareholder communication and finance raising. The implementation of this Regulation will improve competition and greatly facilitate free movement of capital. It makes complete sense to have one method of accounting for a transaction, whether it takes place in Berlin, Dublin, or Boston.
IASC has issued IAS 41, Agriculture.
IASC has published its annual review for 2000. IASC Chairman's and Secretary-General's Review (PDF 34k). .
IASC has published its annual review for 2000. IASC Chairman's and Secretary-General's Review (PDF 34k).
22 Feb 2001
At its first global meeting this week in London, the XBRL.org Committee announced that IASC has released a draft taxonomy of XBRL for IAS Financial Statements.
21 Feb 2001
At its meeting earlier this month, IASC's Standing Interpretations Committee approved a final Interpretation on results of incidental operations (subject to drafting and approval by the IASB) and a new draft Interpretation on measurement of shares issued in a business combination (also subject to drafting). .
At its meeting earlier this month, IASC's Standing Interpretations Committee approved a final Interpretation on results of incidental operations (subject to drafting and approval by the IASB) and a new draft Interpretation on measurement of shares issued in a business combination (also subject to drafting).
19 Feb 2001
The Ministry of Finance of China has adopted three new standards (intangible assets, leases, and borrowing costs – based partly on IAS and partly on US GAAP), revised five existing standards, and adopted a new, comprehensive Accounting System for Business Enterprises. .
The Ministry of Finance of China has adopted three new standards (intangible assets, leases, and borrowing costs – based partly on IAS and partly on US GAAP), revised five existing standards, and adopted a new, comprehensive Accounting System for Business Enterprises.
14 Feb 2001
The Association of Chartered Certified Accountants (ACCA) has taken the position that the announcement of the new IASC board "is a welcome step, but ACCA is concerned that the appointments do not give the new IASC board sufficient experience of the developing world". .
The Association of Chartered Certified Accountants (ACCA) has taken the position that the announcement of the new IASC board "is a welcome step, but ACCA is concerned that the appointments do not give the new IASC board sufficient experience of the developing world".
13 Feb 2001
US President George W.
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