The G7 Finance Ministers and Central Bank Governors have called on all countries that participate in global capital markets to commit to complying with these universal standards. In May 2000, the International Organisation of Securities Commissions (IOSOC) recommended acceptance of the use of IAS by its members. In June 2000, the European Commission proposed that all listed companies in the EU should be required to prepare their consolidated financial statements using International Accounting Standards.
Using the text from the Standards themselves this book explains clearly and precisely the requirements and use of the Standards in a style that is acceptable to the accountant and non–accountant alike.
An Important Note About IASC Standards.
GENERAL DESCRIPTION OF IASC.
INTERNATIONAL ACCOUNTING STANDARDS.
Fundamentals of International Accounting Standards.
Financial Statement Presentation.
Accounting for Assets.
Accounting for Liabilities.
Accounting for Revenue and Expenses.