Deloitte Publishes Free Practical Guide to IAS
Key developments at the March IASB meeting included:
- Consideration of a project plan on stock-based payments. This project will address how a company should report transactions in which it pays for goods and services with shares of its stock or with options on such shares. An exposure draft is expected by the end of 2002.
- Discussion of a portion of a draft statement on principles of insurance contracts. The draft addresses the fundamental reporting model for such contracts.
- Discussion of issues related to how changes in the value of tangible fixed assets should be reported in a statement of financial performance (i.e., statement of income and comprehensive income).
The firm's publication "International Accounting Standards: A Practical Guide to Financial Reporting" contains background information about the process for setting international accounting standards, a summary of current standards, model financial statements, and a presentation and disclosure checklist. It is available for download  on the firm's iasplus.com  website. This site provides a wealth of well-organized and up-to-date information about international accounting standards, along with related issues and developments.