... accounting standards or, in other words, global convergence into a
common language of accounting for the financial world. International Financial Reporting Standards (IFRS),
the standards promulgated ... a
work program to develop and issue a stable platform of such standards. Those standards, the International
Financial Reporting Standards (IFRS), are now being impl...
... Series Oeconomica, 11(1), 2009
308
INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS) WILL
SUPPORT MANAGEMNET ACCOUNTING SYSTEM FOR SMALL AND
MEDIUM ENTREPRISE (SME)?"
Sorin Briciu
1
... of Small
and Medium sized Enterprises, users and user needs of financial reports, accounting and financial
reporting standard for Small...
... standards;
ã Regulatorswouldneedtoadjustoversightanddisclosurerequirementsfrom
the current system based on US GAAP to new standards based on IFRS and
put a new emphasis on international cooperation ... (IASB) adopted the first iteration of International
Financial Reporting Standards (IFRS) to serve as a possible pathway for establish-
ing uniform global accounting standards...
...
Incorporating IFRS into Intermediate Accounting
Issued by the IASB:
ã International Financial Reporting Standards (IFRS)
ã Interpretations originated from the International Financial Reporting ... two sets of standards.
Unit 1 – Introduction 3
Incorporating IFRS into Intermediate Accounting
Unit 1 – Introduction
Why learn IFRS?
International...
... 10
Organizations Involved 12
1
An AICPA Backgrounder
International Financial
Reporting Standards (IFRS)
3
1
The European Union (EU) has
adopted virtually all International
Financial Reporting ... accounting standards.
Leaders of the Group of 20 (G20) called for
global accounting standards and urged the
U.S. Financial Accounting Standards Board
(FASB) and the...
... AND REGULATING INTERNATIONAL FINANCIAL
REPORTING STANDARDS
Part 2 CONTRASTING HARMONIZATION AND DIVERSITY ACROSS FINANCIAL
REPORTING SYSTEMS
Part 3 SIGNIFICANT INFLUENCES ON INTERNATIONAL
ACCOUNTING ... 27
147
Setting and regulating international
financial reporting standards
Chapter 1 Developing global accounting standards 5
Chapter 2 International financial reporting...
... Global Standards 10
The International Accounting Standards Committee 11
CHAPTER 3 The International Accounting Standards Board 15
Formation of the IASB 15
Structure of the IASB 17
Funding and Operation ... 3/3/05 1: 01 PM Page x
INTERNATIONAL
FINANCIAL
REPORTING
STANDARDS DESK
REFERENCE
Overview, Guide,
and Dictionary
Dr. Roger Hussey
Dr. Audra Ong...
... Overview: Standard Setting Nationally and Globally
ccc_hussey_ch4 _23 - 32. qxd 2/ 16/05 12: 28 PM Page 32
Introduction to
the Guide
59
In April 20 01, the International Accounting Standards Board ... accounting standards.
Until December 1999, the former AASB and the PSASB developed Aus-
24 ã Overview: Standard Setting Nationally and Globally
ccc_hussey_ch4 _23 - 32. qxd 2/...
... to International Financial Reporting Standards
ccc_hussey_ias01_71-114.qxd 2/16/05 12 :30 PM Page 84
MAIN DISCLOSURES
ã Current and deferred tax assets and liabilities
ã Details of tax income and ... elements of financial statements and their recogni-
tion and measurement.
66 ã Guide to International Financial Reporting Standards
ccc_hussey_frame_65-70.qxd 2/16/05 12...
... or potential voting power of an
investee does not constitute control.
1 24 ã Guide to International Financial Reporting Standards
ccc_hussey_ias02_115-178.qxd 2/16/05 12:30 PM Page 1 24
IAS 24
Related ... OF RELATED NATIONAL STANDARDS
Canada: CICA Handbook 346 1
Malaysia: MASB 30
New Zealand: FRS 32
United Kingdom: SSAP 24
United States: SFAS 81
IAS 27
Consolidated and Separat...
... with IAS 36 Impair-
ment of Assets.
150 ã Guide to International Financial Reporting Standards
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Part Three
DICTIONARY
“Then you should say what ... rate, and the depreciation method for the cost
method
ã Gross carrying amounts and accumulated depreciation
158 ã Guide to International Financial Reporting Standar...
... ethics, and Shari’a standards for Islamic Financial in-
stitutions. There is an Accounting and Auditing Standards Board with 15
members.
Accounting and Finance Association of Australia and New Zealand
(AFAANZ) ... Financial Reporting Standards (IFRSs).
Accounting Standards Board (AcSB) The AcSB has the authority to develop
and establish standards and guidance cover...
... United Kingdom and Ireland first
joined together in 1 974 to form the CCAB. The Committee is a limited
company with six members: The Institute of Chartered Accountants in
England and Wales (ICAEW), ... order.
cycle time ã 2 37
ccc_hussey_dicta_c_183-2 37. qxd 2/16/05 12:31 PM Page 2 37
or financial instrument. The most common derivatives are futures and op-
tions. These standard product...
... issued.
International Financial Reporting Standards (IFRSs) The term used by the
International Accounting Standards Board to include standards and inter-
pretations it has issued and the International ... audit in-
288 ã International Financial Reporting Standards (IFRSs)
ccc_hussey_dictd_z_2 38- 3 58. qxd 2/16/05 12:32 PM Page 288
governmental circles around th...