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Topic: International Accounting Standards Board

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	FASB: International
		IASB projects are monitored by the FASB based upon the FASB’s level of interest in the topic being addressed.
		Standard setters, financial statement preparers and auditors, and regulators should be aware of similarities and differences between the financial reports that would be produced under IASC standards and those produced under national standards.
		Factors that the Board considers in assessing topics for the agenda include (a) the possibility that resolution would increase convergence of standards worldwide, (b) the opportunities the topic presents for cooperation with other standard setters, and (c) whether appropriate and sufficient resources are available for a joint or other cooperative effort.
	www.fasb.org /intl/convergence_iasb.shtml (765 words)

	International Accounting Standards Board - Wikipedia, the free encyclopedia
		The International Accounting Standards Board (IASB) was founded on April 1, 2001 as the successor of IASC based in London, UK.
		The IASB hopes that through the creation of international accounting standards, it makes one set of financial statements more compatible with the rest of the world.
		Before the transformation the non-profit organization IASC Foundation was founded in March 2001 in Delaware, US as the parental body of the IASB.
	en.wikipedia.org /wiki/IASB (163 words)

	U.S. Treasury - International Accounting Standards
		However, while accounting standards must be high quality, they also must be supported by an infrastructure that ensures that the standards are rigorously interpreted and applied, and that issues and problematic practices are identified and resolved in a timely fashion.
		The International Accounting Standards Board (IASB) has set out principles to be observed in the preparation of financial statements.
		A total of 41 standards have been issued to date, of which seven have been replaced.
	www.treas.gov /offices/international-affairs/standards/code06.shtml (162 words)

	IAS Plus International Accounting Standards: Summaries of IASB Standards
		International Accounting Standards (IASs) were issued by the IASC from 1973 to 2000.
		While not a standard, the IASB Framework for the Preparation and Presentation of Financial Statements serves as a guide to resolving accounting issues that are not addressed directly in a standard.
		When IASB standards are endorsed by the European Commission for use in the European Union, they (minus the non-mandatory guidance and bases for conclusions) are published in the Official Journal of the European Union in all of the EU languages.
	www.iasplus.com /standard/standard.htm (748 words)

	Accounting and Reporting for Financial Instruments: International Developments
		The international guidance on accounting for financial instruments is contained mainly in two standards: International Accounting Standard (IAS) 32, Financial Instruments: Disclosure and Presentation, and IAS 39, Financial Instruments: Recognition and Measurement.
		Despite having recently stated that in 2005 it would endorse some or all of the IASB standards as the primary financial accounting and reporting rules for its member states, the European Commission proposed excluding certain provisions of IAS 39 when the international standards are adopted.
		When the International Accounting Standards Committee (IASC, the predecessor of the IASB) deliberated IAS 39, FASB was the only major accounting standards setter with formal guidance on the recognition and measurement of financial instruments.
	www.nysscpa.org /cpajournal/2005/205/essentials/p30.htm (2252 words)

	International Accounting Standards
		Accordingly, while the accounting standards used must be high quality, they also must be supported by an infrastructure that ensures that the standards are rigorously interpreted and applied, and that issues and problematic practices are identified and resolved in a timely fashion.
		However, other jurisdictions accepting IASC standards may develop conflicting interpretations or may accept applications of IASC standards that would not be acceptable in the United States and other jurisdictions, in part, because of lack of expertise, resources, or even the authority to question a company's application of accounting standards.
		Under IASC standards, the impact of a change in depreciation or amortization method is recognized as an adjustment to depreciation or amortization expense in current and prospective periods affected by the change.
	www.sec.gov /rules/concept/34-42430.htm (16944 words)

	U.S. Treasury - International Accounting Standards
		Accounting standards can provide a financial reporting framework that delivers transparent, consistent, comparable, relevent and reliable financial information.
		However, while accounting standards must be high quality, they also must be supported by an infrastructure that ensures that the standards are rigorously interpreted and applied, and that issues and problematic practices are identified and resolved in a timely fashion.
		The International Accounting Standards Board (IASB) has set out principles to be observed in the preparation of financial statements.
	www.ustreas.gov /offices/international-affairs/standards/code06.html (162 words)

	Session 4: International Accounting Standards Board
		This is a committee of the IASB that assist the IASB in establishing and improving standards of financial accounting and reporting for the benefit of users, preparers and auditors of financial statements.
		The IFRIC assists the IASB in achieving international convergence of accounting standards by working with similar groups sponsored by national standard-setters to reach similar conclusions on issues where underlying standards are substantially similar.
		IASB is in the fore front by promoting that all countries world wide should adopt International Accounting Standards as it is the easier way of promoting harmonisation.
	cbdd.wsu.edu /kewlcontent/cdoutput/TOM505/page9.htm (942 words)

	International Accounting Board Confirms Interpretation on Fund Shares, November 2001
		As a result, entities that issue redeemable shares will report no equity or net assets for financial accounting purposes.
		Several European countries currently permit, but do not require, adoption of international accounting standards.
		The European Commission recently issued a proposal that would require adoption of international accounting standards by companies listed in European Union member states for fiscal years starting on or after January 1, 2005.
	www.ici.org /issues/glo/arc-disc/01_iasb_reprtng_adopt.html (175 words)

	International Accounting Standards Board Issues Revised Standards on Financial Instruments (Site not responding. Last check: )
		The International Accounting Standards Board (IASB) has issued revised versions of its two standards dealing with financial instruments.
		The release of these revised standards is part of the IASB’s initiative to improve fifteen of the Standards that it inherited from its predecessor body (the International Accounting Standards Committee—IASC), in time for them to be used by companies adopting International Accounting Standards for the first time in 2005.
		These two accounting standards provide comprehensive guidance on the accounting for financial instruments.
	www.ohioscpa.com /article.asp?article=1775-1 (143 words)

	IDBAmerica: International accounting standards-A good investment
		At the recent conference in Washington, D.C., on "Implementation of International Standards for Accounting and Auditing," several speakers contended that the world standard, because it is more rigorous and universal than national standards, will contribute to global financial stability and counteract some of the volatility associated with globalization.
		There is work being done on an international standard for accounting in the public sector, and this is very important, but this is not ready yet.
		Brazil has made a lot of progress in corporate governance, but to implement the international accounting standards, the country may have to change the commercial code, and this is difficult.
	www.iadb.org /idbamerica/English/MAY01E/may01e5-b.html (962 words)

	Ernst & Young SA - Audit - Financial Reporting - Accounting Statements (Site not responding. Last check: )
		The International Accounting Standards Board (IASB) accounting standard on The Effects of Changes in Foreign Exchange Rates (IAS 21) deals with the accounting for foreign currency activities, and should be applied for annual periods beginning on or after 1 January 2005.
		The International Accounting Standards Board’s (‘IASB’) accounting standard on Impairment of Assets, IAS 36 (AC 128), deals with the majority of the accounting aspects for impairment, although certain aspects are dealt with in other standards, such as IAS 38 (AC 129): Intangible Assets.
		The International Accounting Standards Board’s (‘IASB’) accounting standard on Intangible Assets, IAS 38 (AC 129), deals with the majority of the accounting aspects for intangible assets, although certain aspects are dealt with in other standards, such as IAS 36 (AC 128): Impairment of Assets, and IFRS 3 (AC 140): Business Combinations.
	www.eygcs.com /global/content.nsf/South_Africa/Audit_-_Financial_Reporting_-_Accounting_Statements (1026 words)

	IASB - International Accounting Standards Board (Site not responding. Last check: )
		Applying International Accounting Standards is an exciting new textbook written to meet the needs of accounting students and practitioners in understanding the complexities and applying the stable platform of International Accounting Standards.
		IAS 32 and 39 together represent the most significant shift from national accounting standards and as such are the most contentious of the new rules.
		Fully up to the minute with the latest standards, this unique text is a guaranteed asset for all companies applying IFRS and their advisers.
	shop.iasb.org.uk /shop/publications.asp?s=235802&sc={E0FD1C33-82CA-42F4-B668-7692FC3E15A3}&CAT=13&n=2 (1366 words)

	International Accounting Standards Board (IASB)
		July 2002: "The International Accounting Standards Board is an independent, privately-funded accounting standard setter based in London, UK.
		Board Members come from nine countries and have a variety of functional backgrounds.
		The Board is committed to developing, in the public interest, a single set of high quality, understandable and enforceable global accounting standards that require transparent and comparable information in general purpose financial statements.
	www.fairness.com /resources/by-relation?relation_id=6747 (239 words)

	FT.com / Sponsored reports / Understanding IFRS - Setting a new standard (Site not responding. Last check: )
		With Sir David Tweedie named chairman, the IASB was charged with the task of delivering the standards for the 2005 revolution and, in the long term, bringing about global harmonisation of international financial reporting standards.
		The outbreak of accounting scandals in the US sharpened appetites for change in the profoundly conservative US accounting and standard-setting environment, and moves towards convergence between US standards and those issued by the IASB were welcomed.
		The IASB believes that derivatives should be stated at fair value on balance sheets, and that annual losses or gains on the instruments should be shown on profit or loss accounts.
	news.ft.com /cms/s/0680372e-115f-11d9-95d9-00000e2511c8,dwp_uuid=857cf036-115e-11d9-95d9-00000e2511c8.html (1390 words)

	CPA Bulletin: International Accounting Standards (Site not responding. Last check: )
		The Statutory Instrument giving effect to this will provide, that once companies use IAS standards they will be precluded from reverting to the pre IAS situation and also in the case of Groups all companies within the group will have to apply the new standards.
		International Financial Reporting Standards are issued by the International Accounting Standards Board (IASB).
		Effective from 1 April 2001, the IASB assumed accounting standard setting responsibility from its predecessor body the International Accounting Standards Committee.
	newsweaver.ie /cpa/e_article000265005.cfm?x=b11,0,w (293 words)

	Letter to International Accounting Standards Board" from the ICGN accounting and auditing practices committee, ...
		The International Corporate Governance Network’s (ICGN) Accounting and Auditing Practices Committee is writing in response to your Exposure Draft of a proposed International Financial Reporting Standard, “Share-based Payment,” ED 2.
		It would be in everyone’s best interests if there were a single method of accounting required for share-based payments for all companies, regardless of their geographical location.
		We support the basic principles in ED 2: estimate the value of all shares and options at their fair value at the date of grant, and expense that value over the vesting or service period, without adjustment for changes in stock price after the date of grant.
	www.icgn.org /documents/fender-IASB.html (345 words)

	International Accounting Standards Board - International Valuation IVSC
		The International Valuation Standards Committee (IVSC) has embarked on a proposed major restructuring process not unlike that undertaken by the International Accounting Standards Committee in the late 1990s that led to the creation of the International Accounting Standards Board.
		The new IVSC structure will be "similar to the IASB model where the Standards Board is the focal point or the heart and soul of the organisation rather than an organisation of valuation organisations".
		The Group believes that the primary role of the IVS is as a body of international standards in their own right to meet the needs of the global market place and to provide a basis for the convergence of national standards to international valuation standards.
	www.iasplus.com /ivsc/ivsc.htm (1560 words)

	International Accounting Standards Board
		The International Aloe Science Council is a non-profit association of aloe growers; scientists; manufacturers; finished good manufacturers and aloe marketers dedicated to serving the needs of the Aloe industry.
		IFRS in Brief that covers the July 2005 meeting of the International Accounting Standards Board...
		Accounting Standards Board International Accounting Standards Board Financial Reporting Council Financial...
	biz-tasks.com /accounting/International-Accounting-Standards-Board.html (181 words)

	Restoring Public Trust in Accounting
		Similar to FASB and GASB accounting principles, the standard also indicates that, in the absence of a pronouncement covered by Rule 203 or another source of established accounting principles, the auditor of a federal governmental entity may consider other relevant accounting literature.
		The other three board members are nonfederal members selected by the three sponsors from the general financial community, the accounting and auditing community, and academia.
		On a similar note, in October 2002 FASB and the IASB jointly announced a memorandum of understanding (the Norwalk Agreement) to acknowledge their commitment to the development of high-quality, compatible accounting standards that could be used for both domestic and cross-border financial reporting.
	www.nysscpa.org /cpajournal/2003/1103/features/f111803.htm (3211 words)

	International Accounting Standard Board Iasb (Site not responding. Last check: )
		The first accounting standard to be written by the International Accounting Standards Board (IASB) and the...
		The first accounting standard to be written by the International Accounting Standards Board and the US Financial...
		Accounting Education - The restructured SAC's foremost role will be to provide broad strategic advice on the IASB's agenda priorities and insight into the possible benefits and costs of particular proposals.
	www.thejanuaries.com /international-accounting-standard-board-iasb.html (646 words)

	International Accounting Standards (Site not responding. Last check: )
		First of all, we would like to welcome the IASB’s intention to seek a principles-based solution which will speed up progress towards a solution by avoiding the need for a full re-exposure of IAS 39.
		We also support the new staff proposals to remove the requirement for a verifiability test where the fair value option is used in addition to the reliability test already required by IAS 39.
		However, we firmly believe that regulatory concerns should not be addressed by general accounting standards but dealt with through supervisory tools.
	www.cea.assur.org /cea/v2.0/posi/uk/detail.php?position_id=234 (1107 words)

	International Accounting Standards Working Group (Site not responding. Last check: )
		Discussed the International Accounting Standards Board (IASB) progress towards a phase II Insurance Contracts Standard.
		The IASB is conducting educational sessions to become familiar with key recognition and measurement issues they feel must be resolved prior to moving the project forward.
		The Board is also planning to have an initial meeting in September 2004 with the IASB Insurance Working Group.
	www.naic.org /meeting_minutes/min0904/summary/iawg_summary.htm (383 words)

	business combinations; goodwill (Site not responding. Last check: )
		Statement 141 improves the transparency of the accounting and reporting for business combinations by requiring that all business combinations be accounted for under a single method-the purchase method.
		Accounting Standards Board - FRS 6: Acquisitions and Mergers (Financial Reporting Standard 6), september 1994, in: Accountancy, 114, no. 1215, november 1994, pag.
		Accounting Standards Board - FRS 7: Fair Values in Acquisition Accounting (Financial Reporting Standard 7), september 1994, in: Accountancy, 114, no. 1215, november 1994, pag.
	www.few.eur.nl /few/people/knoops/literatuur/busscomb.htm (1589 words)

	The Proposed International Standard On Insurance Contracts Will Be A Major Challenge For Business, Says PwC (Site not responding. Last check: )
		Implementation of an accounting standard for insurance contracts, globally applied, would enable individual insurance companies to be better understood by the global capital markets.
		Further, the IASB is proposing that insurers should disclose the fair value of their liabilities as a precursor to a potential full fair value model in Phase 2.
		The Board accepts that many companies will not be able to fair value their liabilities straight away so it is proposing that the deadline for disclosing the fair value of liabilities is delayed until year end 2006.
	www.pwcglobal.com /extweb/ncpressrelease.nsf/DocID/5079950740716FE185256D740063D515 (981 words)

	TESF Letter to the International Accounting Standards Board (Site not responding. Last check: )
		The Forum sent a second letter to the International Accounting Standards Board on consolidation of Special Purpose Entities and SIC 12.
		The Forum is particularly concerned regarding the inconsistent approach of IAS 39 and SIC 12.
		In light of this, and given that the IASB is currently considering whether to review SIC 12, either as a separate agenda item or in a wider consolidation project, the Forum argued that SIC 12 clearly needs to be reviewed as soon as possible.
	www.europeansecuritisation.com /nwsIASBltr.shtml (116 words)

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