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BP presentation, IFRS large and small iICPAS presentation September 24 2009
- 1. ICPAS Fox River Trail Chapter Barrett Peterson, C.P.A. September 24, 2009 Manager, Accounting Standards, Procedures, and Analysis , TTX Full IFRS and IFRS for SMEs
- 5. Transparency in Accounting Standards September 24, 2009 ICPAS Fox River Trail Chapter Presentation 5
- 9. IFRS Governance Structure Source: Deloitte IASPlus website September 24, 2009 ICPAS Fox River Trail Chapter Presentation 9
- 35. IFRS for SMEs Compared to Full IFRS September 24, 2009 ICPAS Fox River Trail Chapter Presentation 35 Section in the IFRS for SMEs Full IFRS 11& Basic Financial Instruments and Other 12 Financial Instruments Issues IAS 32, Financial Instruments: Presentation IAS 39, Financial Instruments: Recognition and Measurement IFRS 7, Financial Instruments: Disclosures 13 Inventories IAS 2, Inventories 14 Investments in Associates IAS 28, Investments in Associates 15 Investments in Joint Ventures IAS 31, Investments in Joint Ventures 16 Investment Property IAS 40, Investment Property 17 Property, Plant and Equipment IAS 16, Property, Plant and Equipment 18 Intangible Assets Other than Goodwill IAS 38, Intangible Assets 19 Business Combinations and Goodwill IFRS 3, Business Combinations 20 Leases IAS 17, Leases 21 Provisions and Contingencies IAS 37, Provisions, Contingent Liabilities and Contingent Assets
- 36. IFRS for SMEs Compared to Full IFRS September 24, 2009 ICPAS Fox River Trail Chapter Presentation 36 Section in the IFRS for SMEs Full IFRS 22 Liabilities and Equity IAS 1, IAS 32 23 Revenue IAS 11, Construction Contracts IAS 18, Revenue 24 Government Grants IAS 20, Accounting for Government Grants and Disclosure of Government Assistance 25 Borrowing Costs IAS 23, Borrowing Costs 26 Share-based Payment IFRS 2, Share-based Payment 27 Impairment of Assets IAS 2, IAS 36, Impairment of Assets 28 Employee Benefits IAS 19, Employee Benefits 29 Income Tax IAS 12, Income Taxes 30 Foreign Currency Translation IAS 21, The Effects of Changes in Foreign Exchange Rates 31 Hyperinflation IAS 29, Financial Reporting in Hyperinflationary Economies
- 37. IFRS for SMEs Compared to Full IFRS September 24, 2009 ICPAS Fox River Trail Chapter Presentation 37 Section in the IFRS for SMEs Full IFRS 32 Events after the End of the Reporting Period IAS 10, Events after the Reporting Period 33 Related Party Disclosures IAS 24, Related Party Disclosures 34 Specialized Activities IAS 41, Agriculture IFRS 6, Exploration for and Evaluation of Mineral Resources 35 Transition to the IFRS for SMEs IFRS 1, First-time Adoption of International Financial Reporting Standards
Notes de l'éditeur
- Monitoring Board of public regulatory authorities established February 1, 2009. Initial membership comprised of relevant leaders of the European Commissions [not filled as of September 22, 2009], the Commissioner of the Financial Services Agency of Japan, the Chairman of the US SEC, the Chairman of the Emerging Markets Committee of IOSCO, and the Vice-Chairman of the Technical Committee of IOSCO [International Organization of Securities Commissions]. 04/24/10
- US GAAP permits consolidated subsidiaries to use accounting policies different from the parent. IFRS requires reporting to reflect consistent accounting policies throughout the consolidated group. 04/24/10
- The development of this Standard, over a couple of years, has contained, then dropped, a description of “small and Medium” entities as those with annual revenues under $25 [or$50] Million, assets under $12.5 million, and fewer than 50 employees. 04/24/10
- Under US GAAP the terms ‘Statement of Financial Position” and “Balance Sheet” are both acceptable. 04/24/10
- 04/24/10