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IAS 3: Consolidated Financial Statements 1976 January 1, 1977: January 1, 1990: IAS 27 and IAS 28: IAS 4: Depreciation Accounting 1976 January 1, 1977: July 1, 1999: IAS 36: IAS 5: Information to Be Disclosed in Financial Statements 1976 January 1, 1977: July 1, 1998: IAS 1: IAS 6: Accounting Responses to Changing Prices 1977 January 1, 1978 ...
The International Accounting Standards Committee (IASC) was established in June 1973 by accountancy bodies representing ten countries. It devised and published International Accounting Standards (IAS), interpretations and a conceptual framework.
IFRS 7, titled Financial Instruments: Disclosures, is an International Financial Reporting Standard (IFRS) published by the International Accounting Standards Board (IASB). It requires entities to provide certain disclosures regarding financial instruments in their financial statements. [ 1 ]
The revisions included the elimination of options, the expansion of disclosure requirements and additional guidance for the application of the standards. The revisions were completed in 1992. As this did not yet satisfy IOSCO, the IASC embarked on a new work programme to revise its standards, and to add standards on topics that were not yet, or ...
The International Accounting Standards Committee (IASC) had been established in 1973 and had issued a number of standards known as International Accounting Standards (IAS). As the organization was reformed in 2001, it changed the name of the standard-setting body from IASC to IASB, and established a foundation to oversee it, initially known as ...
Accounting standards prescribe in considerable detail what accruals must be made, how the financial statements are to be presented, and what additional disclosures are required. Some important elements that accounting standards cover include identifying the exact entity which is reporting, discussing any "going concern" questions, specifying ...
All States/Cantons should adopt at least a national standard called HAM2, but are allowed to go beyond and adopt IPSAS. HAM2 is based on the accrual basis accounting model HAM (1981), but converges with IPSAS in respect of presentation, recognition and disclosure. However, HAM2 has lesser requirements mainly in respect of measurement.
These requirements may be located in Australian Accounting Standards that incorporate IFRSs or in other Australian Accounting Standards. In most instances, these requirements are either restricted to the not-for-profit or public sectors or include additional disclosures that address domestic, regulatory or other issues.