FRED 4: reporting the substance of transactions, February 1993
Article Abstract:
The Accounting Standards Board (ASB) has issued a financial reporting exposure draft (FRED) for reporting the substance of transactions in financial statements. The proposal paper addresses issues related to 'off balance sheet financing.' These include linked presentation for particular non-recourse finance arrangements, offsetting of assets and liabilities, options, termination of asset recognition, control, recognition tests, risk, qualitative traits of useful information and transitional provisions. FRED includes guidelines on how to identify the substance of transactions and how to determine if assets and liabilities are to be recognized in balance sheets. Appropriate disclosures arelikewise discussed. Comments on the draft are accepted by ASB and may be used as basis for development of the final paper.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1993
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Financial Reporting Exposure Draft No 1: The Structure of Financial Statements - Reporting of Financial Performance (Accounting Standards Board)
Article Abstract:
The Financial Reporting Exposure Draft No 1 (FRED 1) focuses on financial performance reporting and is based on the discussion draft issued by the Accounting Standards Board in Apr 1991. FRED 1 covers several key issues including the clarification of what constitutes a discontinued operation, the disclosure requirements for discontinued and continuing operations, and the calculation of taxation and interest on results from a firm's operations.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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Exposure Draft Statement of Principles Chapter 6: Presentation of financial information
Article Abstract:
The Accounting Standards Board has issued an exposure draft that outlines Chapter 6 of the Statement of Principles regarding financial information presentation. Chapter 6 provides an analysis of how financial information contained in financial statements can be presented to provide relevant data on financial adaptability, financial position and financial performance in a manner which is both accessible and useful to various users.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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