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Articles tagged with: IASB

DOCUMENTS, IAS 16, IAS 2, IAS 21, IAS 38, IAS 39, IFRS, IFRS 7, TRAINING »

[21 Jun 2011 | No Comment | 2,304 views]
IFRS Implementation-cum-Global Qualification on 3rd July 2011 in New Delhi

For finance and accounts professionals looking for an effective training on IFRS with special focus to India implementation.

EVENTS, IFRS »

[18 Jun 2009 | One Comment | 2,572 views]

The AICPA and IASC Foundation’s International Financial Reporting Standards (IFRS) in North America 2009 (October 29-30, 2009 in New York with Pre-Conference Workshops October 28) conference features in-depth presentations, panel discussions and extensive Q&A sessions on the most current developments impacting you and your organization with Sir David Tweedie from the IASB, Bob Herz from the FASB, leaders from other U.S. Regulatory bodies in addition to Paul Volcker (participtation is subject to confirmation), Chairman, U.S. Economic Recovery Advisory Board. Delegates will hear from companies that have already adopted IFRS, giving …

IFRS »

[15 Dec 2008 | No Comment | 1,649 views]

Dear allPlease find attached a news from European Commission about IFRS.
In addition you’ll find a link to a pdf file related to consolidated
text of IFRS.Have a good joining.
Regards
Simone SalviAccounting standards: Commission adopts consolidated text of IFRS
applicable in the EUThe European Commission has adopted on Monday 3 November the
consolidated text of all International Financial Reporting Standards
(IFRS) in force in the European Union (EU). The consolidated version
puts together all IFRS endorsed to date, including the latest
amendments endorsed on 15.10.2008. It will enable stakeholders to
refer to only one single legal document. This is …

IFRS »

[15 Dec 2008 | No Comment | 3,410 views]

Dear Friend,
Please inform which website can give me detailed IFRS and IAS access
free of cost. Deloittee IAS PLUS gives summary.
Thanks
Hemant

Hi Hemant
For a summary of the scope of each Standard you may want to rely on
the official site of the International Accounting Standard Board
(www.iasb.org). Detailed information on each standard are instead
subject to a subscription which however provides you also with regular
updates.
Regards
Antonello

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IFRS »

[14 Dec 2008 | No Comment | 6,306 views]

Is there any guideline for measurement of loan impairment and recognition of interest income by using effective rate method

Asim

well Esther the UK leads the path i.e. the UK tax authorities are the only ones in Europe which accept IFRS reporting to the extent that its website http://www.hmrc.gov.uk/ does have a section allocated to differences between IFRS and UK GAAP
I wish in Germany they had the same thing!!!!!

 

Asim
 
Below is the list of applicable paragraphs from IAS 39 for measurement of loan impairment:
 

                 Financial assets carried at amortized cost

63
If there is objective evidence …

IFRS »

[14 Dec 2008 | No Comment | 2,751 views]

What are the diferences between the two accounting policies?

IAS was in use before the introduction of IFRS. With effect from the introduction of IFRS, only IAS before the introduction of IFRS is stil in use. Any other international standard that will be issued will now be IFRS but not IAS.
 
Femi

In my view except the change in nomenaclature there is no much difference in the basic strategy of the standardization process. Ofcourse prior to 2001 (1973-2001) IAS International Accounting Standards were used to be issued by the IASC (International Accounting Standards Committee) and …

DOCUMENTS, FAIR VALUE, FINANCIAL INSTRUMENTS, IAS 16, IAS 2, IAS 21, IAS 39, IFRS »

[14 Dec 2008 | No Comment | 7,489 views]
Equity investments AFS is a non-monetary items?

Hi all,

We need some guidance in connection to apply the rules explained in IAS 21 related to if investments AFS in capital instruments is a non-monetary item. 
Theses equity investments were made without the intention of take control on any compa…

IFRS »

[28 Aug 2008 | No Comment | 3,878 views]

Can anyone confirm if the PRC has officially transitioned to full IFRS GAAP reporting and if so, what was the effective date?  Are companies mandated to report in IFRS GAAP or can they still report in PRC GAAP up to a certain point?
Thanks for any clarification any of you can provide.
Also, if you have any resources you might refer me to, that would be great.
Debbie

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IFRS »

[28 Aug 2008 | No Comment | 1,799 views]

Hi ,

If provision for Bonus was taken in 2007 for X amount and financial statements for 2007 closed and reported , and in 2008 the payout of Bonuses was more than the provisions amount. As per IFRS , what is acceptable??
1- should we classify the over expensed amount as Prior year expenses ( is this accp as per IFRS )
2- should i expense this amount in 2008 ?
I used to do this as prior year expenses , but i heard that as per IFRS now we should …

IFRS »

[28 Aug 2008 | No Comment | 1,608 views]

My name is Attapol(Mr.) , Thai accountant.   Is it possible if you will send me the summarized of IFRS accounting standard.
 
In my country applied Thai Accounting Standards (TAS) , I want to compare TAS and IFRS on a one by one accounting standard.
 
Please assist me
 
Thanks and regards,
 
Mr.AttapolPlease go to the IASB website www.iasb.org which has an unofficial summary of all IFRS (including IASs) issued to date available to the public.
Regards
Vatsala

Dear Attapol,

 
You can check the standards at www.iasplus.com
 
 
 
Regards,
 
Grace

Dear  Mr Attapol,
You can see the summaries of IAS and IFRS at:    www.iasb.org
regards
sadin
 

Dear Attapol
 
Visit …

IFRS »

[28 Aug 2008 | No Comment | 6,408 views]

Hi everyone
I want to know the difference between IFRS and IAS.  As, there are IAS 1 to 41 standards already existing then why IFRS 1 to 8 was developed.
Secondly, are these two standards working parallel to each other or IAS is abondoned and now IFRS is working?
If someone could please guide me.Well I am “sorry” to ask a basis question from honourable members.
Sincerely,

Salman

See this link for the first question,

 http://en.wikipedia.org/wiki/International_Financial_Reporting_Standards
 
The second Q: yes they are parallel, as long as an IAS is not replaced by an IFRS it remains valid. Companies …

IFRS »

[28 Aug 2008 | No Comment | 4,356 views]

Hi All
This is Muhammad Naveed
I have a query regarding the consolidation of subsidiaries. Does IAS-27 allow us to not consolidate subsidiaries which are immaterial for the group?
Is it specifically mentioned somewhere in IAS?
 
Regards
Muhammad

Well Naveed
Actually materiality is an underlying concept of the Financial Statements.So anything which is immaterial needs not to be disclosed or adjusted.
 
Thanks and regards

IAS 1 is the overall standard to refer to:

Materiality and Aggregation
29.        Each material class of similar items shall be presented separately in the financial statements.  Items of a dissimilar nature or function shall be presented separately unless …

IFRS »

[27 Aug 2008 | No Comment | 2,202 views]

Hi all!
I am a young chartered accountant from India presently working in a reputed engineering company at Baroda, India. In the long run I plan to start a consulting firm focused on IFRS implementation and compliance. In the medium term I plan to get an international exposure particularly in South East Asian countries like Singapore, Malaysia etc. As Indian CA is not recognized as such in those countries I plan to take up international qualifications like ACCA or Singapore CPA although I still have to inquire whether it is possible to …

IFRS »

[27 Aug 2008 | No Comment | 1,598 views]

Sono una studentessa di Economia e Legislazione d’impresa, Università
degli Studi di Verona.
Sto preparando una tesi sulla proposta dello IASB di creare degli IFRS
per le PMI.
Volevo alcune notizie riguardo l’argomento.
Grazie
Barbara
Hello,
I have been looking for guidance pertaining to the Information Technology aspect of IFRS.  From your email, I think you are concentrating on the business aspect of IFRS. Are you familiar with IT Auditing and the rules surrounding it?

Hi Barbara, welcome to IFRS List.
For all IFRS List members, Barbara is preparing a thesis about IFRS, and asked for info, resources links, about …

IFRS »

[27 Aug 2008 | No Comment | 3,055 views]

Dear Elena,
I understand that accounting standards for smes are still in the drawing boards after asking for comments and suggestions from different sectors. I am a practising accountant in the Philippines.  My concern is on the issue of not-for-profit organization, which in the Philippine context are also known as non-government organizations (NGO’s). These NGO’s are generally funded by grants both from domestic and international funding agencies which have their own reportorial requirements aside from statutory requirements of state regulatory bodies. To satisfy both “users” ,  the  NGO will need to prepare both  special purpose and general purpose …

IFRS »

[27 Aug 2008 | No Comment | 1,521 views]

Forwarded conversationSubject: [IFRS List] standards for sme's:not for profit organizations ————————
From: ann silvers <annsilvers@yahoo.com>Date: Wed, Nov 28, 2007 at 11:40 AM To: ifrs@ifrslist.com

On 11/27/07, ann silvers <annsilvers@yahoo.com> wrote:

November 27, 2007
 
Dear Elena,
 
I understand that accounting standards for smes are still in the drawing boards after asking for comments and suggestions from different sectors.
 
I am a practising accountant in the Philippines.  My concern is on the issue of not-for-profit organization, which in the Philippine context are also known as non-government organizations (NGO's).
 
These NGO's are generally funded by grants both from domestic and international funding …