The IAS (International Accounting Standards) is a set of standards which
state how certain types of transactions and other events should be reflected
in financial statements.
The IAS are issued by the IASB, the Board of the International Accounting
Standards Committee (IASC).
Accounting standards are authoritative statements
of how certain types of transaction and other events should be reflected in
financial statements. Accordingly, compliance with accounting standards will
normally be necessary for the fair presentation of financial statements.
Standards issued by the International Accounting Standards Board are designated:
International Financial Reporting Standards (IFRSs). Standards originally
issued by the Board of the International Accounting Standards Committee (1973-2001)
continue to be designated: International Accounting Standards (IASs).
Interpretations are prepared by the International Financial Reporting Interpretations
Committee (IFRIC) (formerly the Standing Interpretations Committee (SIC))
to give authoritative guidance on issues that are likely to receive divergent
or unacceptable treatment, in the absence of such guidance.
Although IASC has no formal authority to require compliance with its accounting
standards, many countries and the EC require the financial statements of publicly-traded
companies to be prepared in accordance with IAS.
Many countries already endorse International Accounting Standards (IAS)
as their own accounting standards. Either without amendment or else with minor
additions or deletions. Furthermore, important developments are taking place
in the European Union, where the European Commission is progressing proposals
that will require all listed companies in the European Union to prepare their
consolidated financial statements using International Accounting Standards.
Already, both inside and outside the EU, many leading companies have stated
that they prepare their financial reports in accordance with International
Accounting Standards.
Other countries do not permit companies to use IAS (International Accounting
Standards) without a reconciliation with domestic generally accepted accounting
principles. The most notable among these countries are Canada, Hong Kong,
Japan, and the United States.
Forum discussions about the International Accounting Standards. Below you can ask a question about this topic, share your experiences, report a new development, or explain something.
|
Interpretation of IAS Standards
International accounting standards cover the best accounting policies and principles, which help and guide users in preparing their financial statements.
But the interpretation of these standards is ...
 227
 4 comments
|
🔥
|
How People see the Accounting Job
One of the bigger problems in the accounting job is the way the rest of the employees think about accounting. They are thinking that accountants are a wall against them and a cause of non-advance in t...
 6
|
|
|
The best, top-rated topics about the International Accounting Standards. Here you will find the most valuable ideas and practical suggestions.
|
IAS and 'Fair' Financial Statements
IAS aims to give fair financial statements. It is the ideal state. However, when you put it in the practice, you will face questions like: what does fair mean for you and me? Does it mean the same thi...
 219
 1 comments
|
|
|
Advanced insights about the International Accounting Standards. Here you will find professional advices by experts.
|
|
Various sources of information regarding the International Accounting Standards. Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops.
|
Dealing with Complexity / Transparency in Financial Information Corporate Transparency, Financial Complexity, Information Complexity, Information Transparancy This presentation is about information transparency, and includes the following sections:
1. Introduction: an experimen...
|
|
USGAAP versus IFRS on Intangibles Accounting Intangible Assets, Accounting, USGAAP, IFRS This presentation compares USGAAP and IFRS, and includes the following sections:
1. Presentation Overview
2. Executive...
|
|
IFRS Adoption in Europe IFRS, IAS 39, Convergence This paper by Chris Armstrong examines the European stock market reaction to sixteen key events associated with the adop...
|
|
IAS and US GAAP Accounting Quality Mary E. Barth a.o. (all from the US) compare measures of accounting quality for firms applying IAS with US firms to inve...
|
|
Introduction and Summary of Intangible Assets (IAS38) Initial Understanding of Intangible Assets, Accounting Treatment Accounting treatment of intangible assets:
- Identifiable (seperable, legal right)
- Non-monetary Assets (non-cash)
-...
|
|
IFRS Pros and Cons IAS, IFRS, fair value Paper by Ray Ball. There is little settled theory or evidence on which to build an assessment of the advantages and disa...
|
|
|
Jump to further research sources regarding the International Accounting Standards.
News
|
Videos
|
Presentations
|
|
Books
|
Academic
|
More
|
|
|
|
Compare with: Fair Value
| US GAAP
Return to Management Hub: Finance & Investing
More Management Methods, Models and Theory
|
|

Do you know a lot about the International Accounting Standards? Become our SIG Leader and gain worldwide recognition as an expert.
|
|
|
|