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IAS 37 was originally issued by the International Accounting Standards Committee in 1998, superseding IAS 10: Contingencies and Events Occurring after the Balance Sheet Date, and was adopted by the IASB in 2001. [1] It was seen as an "important development" in accounting as it regulated the use of provisions, minimising their abuse such as in ...
e. International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). [1] They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and ...
IAS 17 Accounting for Leases (1982) required the capitalization of finance leases, a practice that was as yet unusual or unknown outside the United States. [9] In 1987, the IASC adopted a new strategy of strengthening its standards to make them a suitable basis for financial reporting by companies seeking cross-border stock market listings. [10]
The International Accounting Standards Board (IASB) is the independent accounting standard -setting body of the IFRS Foundation. The IASB was founded on April 1, 2001, as the successor to the International Accounting Standards Committee (IASC). It is responsible for developing International Financial Reporting Standards (IFRS) and for promoting ...
Misconduct. v. t. e. IFRS 17 is an International Financial Reporting Standard that was issued by the International Accounting Standards Board in May 2017. [1][2] It will replace IFRS 4 on accounting for insurance contracts and has an effective date of 1 January 2023. [3] The original effective date was meant to be 1 January 2021. [2]
She went on to have a 37-year career in the civil service. As an IAS, she was Collector of Sundargarh district of Odisha and was Principal Secretary in departments such as Textiles and Industries. In 1991, she took a sabbatical from IAS and completed Masters in Development Economics from the University of East Anglia, Norwich, UK. [citation needed]
A discontinued operation is a component of an enterprise that has either been disposed of, or is classified as 'held for sale', and: represents a separate major line of business or geographical area of operations; and
Statement of Changes in Financial Position (1977) Cash Flow Statements (1992) Statement of Cash Flows (2007) 1977. January 1, 1979. IAS 8. Unusual and Prior Period Items and Changes in Accounting Policies (1978) Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies (1993)