IASB aids IFRS adoption, slows effective dates.The International Accounting Standards Board  An editor has expressed concern that this article or section is .Please help improve the article by adding information and sources on neglected viewpoints, or by summarizing and (IASB IASB See International Accounting Standards Board (IASB). ) announced a number of steps it has taken to give constitutents time to prepare for new standards and to provide input to work in progress. In a July 24 press release, IASB recognized that many countries require time for translations and implementation of new standards into practice and, as appropriate, into law. To accommodate this, IASB intends to allow a minimum of one year between the date of the publication of wholly new International Financial Reporting Standards International Financial Reporting Standards (IFRS) are standards and interpretations adopted by the International Accounting Standards Board (IASB). Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). (IFRS IFRS International Financial Reporting Standard(s) IFRS Inter Frame Relay Service IFRS Indiana Facilities Registry System ) or major amendments to existing IFRS and the date when implementation is required. Additionally, IASB and the U.S. Financial Accounting Standards Board Financial Accounting Standards Board (FASB) Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP). (FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). ) have agreed to publish discussion papers, rather than move directly to exposure drafts, on the individual sections of the Conceptual Framework project. Thus, IASB will publish a discussion paper as the next step of its Fair Value Measurement project, which, it says, aims to provide consistency in the application of existing fair value requirements. Using discussion papers will allow at least two opportunities for public comment. Additionally, IASB plans to hold public roundtable discussions on two topics of keen interest to constituents. Roundtables for the proposed amendments to the recognition and measurement principles in IAS See iPlanet Application Server. 1. (computer) IAS - The first modern computer. It had main registers, processing circuits, information paths within the central processing unit, and used Von Neumann's fetch-execute cycle. 37, Provisions, Contingent Liabilities and Contingent Assets, will be held during November and December; roundtables for the measurement phase of the Conceptual Framework project will be held in the first quarter of 2007. Also, in order to provide what it calls "stability," IASB will refrain from requiring new standards to be applied before 2009. The press release states, "The IASB will not require the aplication of new IFRS under development or major amendments to existing standards before Jan. 1, 2009. The establishment of 2009 as the first date of required implementation of new standards will also provide countries yet to adopt IFRS with a clear target date for adoption." |
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