UITF abstract 41 (IFRIC interpretation 8)
Article Abstract:
The amended FRS 20 from IFRS 2 applies to share based payment transactions in which the entity receives or acquires goods or services, to all transactions in which the entity receives non financial assets or services and also, applies to transactions in which the entity incurs liabilities. It is revealed that the accounting treatment required should be adopted in financial statements relating to accounting periods beginning on or after 1 May 2006, but earlier adoption is encouraged.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2006
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After the OFR
Article Abstract:
The government's sudden abandonment of the statutory operating and financial review (OFR) angered many companies and advisers, though they can still use it in a replacement business review. The Department of Trade and Industry has issued guidance for review preparers explaining that the directors' report for a financial year must contain a fair review of the business of the company and a description of the principal risks and uncertainties facing the company.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2006
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Which way forward?
Article Abstract:
The International Accounting Standards Board (IASB) is out-of-date and the standards are being written without an effective conceptual framework for the given complex and shifting nature of financial reporting. The re-writing of the framework should be the main aim of the IASB as the quality control over the production of international standards has become questionable.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2004
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