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IASB issues three new standards : Consolidated financial Statements, Joint Arrangements, and Disclosure of Interests in Other EntitiesThe International accounting standards Board (IASB) recently issued three new standards : IFRS 10 Consolidated financial Statements, IFRS 11 Joint Arrangements, and IFRS 12 Disclosure of Interests in Other Entities. These new standards are effective for annual periods beginning on or after 1 January 10 replaces the portion of IAS 27 Consolidated and Separate financial Statements that addresses the accounting for Consolidated financial statements. It also includes the issues raised in SIC-12 Consolidation Special Purpose Entities. What remains in IAS 27 is limited to accounting for subsidiaries, jointly controlled entities, and associates in separate financial statements. IFRS 10 establishes a single control model that applies to all entities (including special purpose entities, or structured entities as they are now referred to in the new standards , or variable interest entities as they are referred to in US GAAP).
IASB issues three new standards: Consolidated Financial Statements, Joint Arrangements, and Disclosure of Interests in Other Entities The International Accounting Standards Board (IASB) recently issued three new
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Accounting, And Disclosure Issues, INTERNATIONAL PUBLIC SECTOR ACCOUNTING, INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS: CONCEPTUAL, Issues, Revenue Recognition Topic 605, The Changing Accounting Environment:, The Changing Accounting Environment: International Accounting, From Transparency to Performance, Issues From Transparency to Performance, Plain English, Disclosure