Conceptual framework: More than an anorak's debate

Article Abstract:

The conceptual framework has far-reaching practical implications for the direction of financial reporting and is much more than a debate for accounting 'anoraks'. The International Accounting Standards Board and the US Financial Accounting Standards Board are undertaking a joint project in 2006 to develop a common framework for setting and revising standards, and although the boards maintain they are not carrying out a fundamental revision, some of the proposals are generating considerable debate and concern in the business community.

Services information, Services, International Accounting Standards Board, Financial Accounting Standards Board

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Surprise, surprise

Article Abstract:

Some early evidence from a Liverpool University project that attempts to measure the consequences of the implementation of International Financial Reporting Standards (IFRS) in the UK is presented. The study looks beyond the early adopters of IFRS for evidence, specifically to the impact of IFRS on reported profit and on the equity of listed companies compared to UK generally accepted accounting principles (GAAP).

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Really useful reports?

Article Abstract:

ICAEW president David Illingworth has announced an initiative to review business-reporting models and examine how a reporting framework can be created that fulfils market needs for useful information. However, the history of the financial reporting with reference to the first wide-range review 'The Corporate Report' shows that the search for a new business-reporting model would be difficult.

Corporation reports, Company reports

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