The gathering storm

Article Abstract:

The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board are planning to develop a common conceptual framework for financial reporting. The main objective of the financial reporting project is to provide information that is useful to the present and potential investors and others in making investment, credit and similar resource allocation decisions, which can be achieved by providing information that assists people to assess the amounts, timing and uncertainty of the entities.

Legal issues & crime, Strategy & planning, Government regulation (cont), Government regulation, Other Financial Vehicles, Legal/Government Regulation, Reporting & Disclosure, Security & commodity services, not elsewhere classified, Financial Record Keeping Services, Planning, Laws, regulations and rules, International Accounting Standards Board, Financial statements, Company business planning, Financial Accounting Standards Board, Financial records management

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Debating fair value

Article Abstract:

The International Accounting Standards Board (IASB) has published a discussion paper in November 2005, Measurement bases for financial accounting - measurement on initial recognition. The paper proposes that all assets and liabilities should be measured at fair value on initial recognition, where fair value can be measured reliably and these proposals would introduce a dramatic change in current practice, and the ICAEW will make its comments on this proposal.

Product standards, safety, & recalls, Accounting Methods, Management dynamics, Management, Institute of Chartered Accountants in England and Wales, Company business management

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Accounting for reality

Article Abstract:

New standards in accounting ought to change companies' decisions because the function of accounting is to reflect reality.

Financial Management

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