Only the ones we like?: Selective application of International Accounting Standards cuts no ice

Article Abstract:

The International Accounting Standards Commission (IASC) revised IAS 1, making it clear that accounts must not be described as compliant with IASs, unless they comply with each requirement of each applicable standard and interpretation. Departures are not appropriate unless compliance with a certain requirement may be misleading. Some directors have a selective approach to IASs, but IAS 1 (revised) will be mandatory as one of the relevant standards in 199.

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Yes to IAS, but not now?

Article Abstract:

Issues concerning the response of French company Lafarge to the European Commission ruling on International Accounting Standards (IAS) are discussed. The background and history to its lack of full IAS compliance is examined.

Laws, regulations and rules, Finance, European Union. European Commission, International Accounting Standards Board, Financial statements, Corporation reports, Company reports, Lafarge Group

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All clear for take-off?

Article Abstract:

Deutsche Lufthansa AG will prepare its 1998 accounts under International Accounting Standards. This is a commendable choice and will probably produce a superior product.

Germany, Management, Deutsche Lufthansa AG

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