IOSCO stalls on endorsement of standards

Article Abstract:

International Accounting Standards Committee (IASC) chairman Eiichi Shiratori has criticized the International Organization of Securities Commissions (IOSCO) for postponing any further endorsement of IASC standards until the IASC' core standards meet the approval of IOSCO. Shiratori calls the IOSCO's position deeply unsatisfactory and highly unrealistic because it asks the IASC to make decisions on issues which even IOSCO's member bodies have trouble dealing with. Shiratori made his remarks at the IOSCO conference held in Tokyo, Japan in the fall of 1994.

Professional Organizations, Standards Committees, Management, Beliefs, opinions and attitudes, International Accounting Standards Board, International Organization of Securities Commissions, Shiratori, Eiichi

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Different strokes

Article Abstract:

Generally accepted accounting principles (GAAP) may vary from one country to the next. Accountants may take advantage of these variations, which are caused by deeply rooted international differences in the concept of accounting, to enrich the value of accounting information by putting the accounting discipline in its social context. This can be done by understanding the main environmental determinants of GAAP variation such as legal frameworks, the nature of capital markets, political-economic factors and cultural influences.

Financial Regulation & Reporting, Financial disclosure

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Standards with a differential

Article Abstract:

The issue of financial reporting by small business enterprises (SBE) has been raised among members of the Canadian Institute of Certified Accountants which intends to address the financial information needs of SBE financial providers. The primary users of financial statements by small business enterprises (SBEs) are bankers, tax authorities, venture capital providers and owner/managers.

Venture Capital Companies, Miscellaneous Intermediation, Investors, not elsewhere classified, Small Business, Finance, Small business investment companies

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