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.
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Forum - International Accounting Standards
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Discussions about International Accounting Standards.
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Best Practices - International Accounting Standards
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Here you find the most valuable discussions from the past.
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Expert Tips - International Accounting Standards
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Here you will find advices by experts.
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Activities of the IASB, FASB: The Norwalk Agreement
Financial Accounting (...)
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Resources - International Accounting Standards
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Here you find powerpoint presentations, micro-learning videos and further information sources.
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Dealing with Complexity / Transparency in Financial Information
Corporate Transparency, Financial Complexity, Information Complexity, Information Transparancy (...)
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USGAAP versus IFRS on Intangibles Accounting
Intangible Assets, Accounting, USGAAP, IFRS (...)
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IFRS Adoption in Europe
IFRS, IAS 39, Convergence (...)
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IAS and US GAAP
Accounting Quality (...)
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Introduction and Summary of Intangible Assets (IAS38)
Initial Understanding of Intangible Assets, Accounting Treatment (...)
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IFRS Pros and Cons
IAS, IFRS, fair value (...)
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Compare with: Fair Value
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