Slipping standards

Article Abstract:

A comparison of the older accounting standards with the existing ones that regularly face derivative contracts or complicated leases is presented. The problem with the existing standards is that they have become so complex that they have left much of the profession far behind.

Product standards, safety, & recalls, Accounting Methods, Interpretation and construction, Accounting law

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Taking everything for granted

Article Abstract:

Issues concerning planned changes to the method of accounting for grants are discussed. The G4+1 standard-setters group suggests a change to the existing Statement of Standard Accounting Practice 4, Accounting for Government Grants.

Column, Subsidies

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All change

Article Abstract:

The International Accounting Standards Board has formed a task force to inform businesses on methods of compliance with the new standard. Questions arise about restatement of previous financial reports.

World, Planning, Business enterprises, International Accounting Standards Board

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