Ringing the changes
Article Abstract:
The International Accounting Standards Board, on 31 March 2004, published the remainder of the body of standards that will be adopted by many companies from 2005 and as a result, the pressure is on corporates to complete their conversion work. For companies in the telecom sector many of the main challenges from adopting International Financial Reporting Standards are not sector specific but rather those applicable to any other similar sized national or international company.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2004
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Fair value for false accounting?
Article Abstract:
The International Accounting Standards Board (IASB) threatens to bring the profession of 'fair value accounting' into a greater disrepute by institutionalizing false accounting on a global scale. IAS 39 requires the accounts to report a gain of pound sterling 10 million equal to 10% on capital, which is clearly a breach of English criminal law.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2004
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