Deloitte Publishes Free Practical Guide to IAS

In its April 1, 2002 "Accounting Roundup," Deloitte & Touche, the U.S. arm of Deloitte Touche Tohmatsu, summarized the results of the March meeting of the International Accounting Standards Board (IASB) and provided a link to a free electronic copy of its updated guide to international accounting standards (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 website. This site provides a wealth of well-organized and up-to-date information about international accounting standards, along with related issues and developments.

-Rosemary Schlank

You may like these other stories...

By Jason BramwellThe IRS on August 19 unveiled a new online registration system for financial institutions that need to register with the agency under the Foreign Account Tax Compliance Act (FATCA).Financial institutions...
By Curtis C. Verschoor, CMAThe furor over the extensive tax avoidance measures used by technology companies such as Google and Apple has reached new heights in both the United Kingdom and the United States. Government...
By Jason Bramwell Government leaders of eight of the world's largest economies pledged on June 18 to take a tougher stance on fighting tax evasion. The Group of Eight (G8) leaders, who met in Northern Ireland,...

Already a member? log in here.

Upcoming CPE Webinars

Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 21
Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience's communication style.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.