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IASB
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 their use and application. Background and semantics The International Accounting Standards Committee (IASC) had been established in 1973 and had issued a number of standards known as International Accounting Standards (IAS). As the organization was reformed in 2001, it changed the name of the standard-setting body from IASC to IASB, and established a foundation to oversee it, initially known as the IASC Foundation and renamed the IFRS Foundation in mid-2010. Also in 2001, it was decided that newly issued standards would be labeled IFRS instead of IAS, and that the entire set of IASC/IASB standards (including the IAS issued until 2001 and th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Accounting Standards Board
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 their use and application. Background and semantics The International Accounting Standards Committee (IASC) had been established in 1973 and had issued a number of standards known as International Accounting Standards (IAS). As the organization was reformed in 2001, it changed the name of the standard-setting body from IASC to IASB, and established a foundation to oversee it, initially known as the IASC Foundation and renamed the IFRS Foundation in mid-2010. Also in 2001, it was decided that newly issued standards would be labeled IFRS instead of IAS, and that the entire set of IASC/IASB standards (including the IAS issued until 2001 an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Financial Reporting Standards
International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and comparable across international boundaries. They are particularly relevant for companies with shares or securities publicly listed. IFRS have replaced many different national accounting standards around the world but have not replaced the separate accounting standards in the United States where US GAAP is applied. History The International Accounting Standards Committee (IASC) was established in June 1973 by accountancy bodies representing ten countries. It devised and published International Accounting Standards (IAS), interpretations and a conceptual framework. These were looked to by many national accounting standard-setters in developing n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IFRS Foundation
The International Financial Reporting Standards Foundation or IFRS Foundation (sometimes IFRSF) is a nonprofit organization that sets corporate reporting standards for the capital markets globally. Its main objectives include the development and promotion of International Financial Reporting Standards (IFRS Standards), through the International Accounting Standards Board (IASB) for accounting standards and the International Sustainability Standards Board (ISSB) for sustainability-related disclosure standards. The IFRS Foundation states that its mission is to develop IFRSs that bring transparency, accountability and efficiency to capital markets around the world, and that their work serves the public interest by fostering trust, growth and long-term financial stability in the global economy.IFRS FoundationAbout the IFRS Foundation and the IASB Retrieved June 20, 2024. The Foundation is governed by a group of 22 trustees,Deloitte Global Services Limited, 2012IFRS Foundation Retrie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hans Hoogervorst
Johannes Franciscus "Hans" Hoogervorst (born 19 April 1956) is a retired Dutch politician of the People's Party for Freedom and Democracy (VVD) and economist. He is the former chairman of the International Accounting Standards Board (IASB) from 1 July 2011 through 30 June 2021. Hoogervorst attended a Gymnasium in Haarlem from June 1968 until June 1974 and applied at the University of Amsterdam in July 1974 majoring in Modern history and obtaining a Bachelor of Arts degree in June 1976 before graduating with a Master of Arts degree in July 1980. Hoogervorst applied at the Paul H. Nitze School of Advanced International Studies of the Johns Hopkins University in Baltimore, Maryland in March 1981 for a postgraduate education in International relations obtaining a Master of Arts degree in July 1983. Hoogervorst worked as a financial analyst at the National Bank of Washington (NBW) in Washington, D.C. from August 1983 until March 1986 and as a civil servant for the Ministry of Fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Tweedie (accountant)
Sir David Philip Tweedie (born 7 July 1944) is a British accountant. He is the former chairman of the International Accounting Standards Board (2001-2011) and the ninetieth member of The Accounting Hall of Fame. Career Born in Newcastle-Upon-Tyne, Tweedie graduated with a BCom followed by a PhD in 1969 from the University of Edinburgh Management School, and is currently a visiting professor.Sir David Tweedie ''Accountancy Age'', 11 Nov 2004 He then trained as a Chartered Accountant with Mann Judd Gordon & Co, qualifying in 1972. He lectured at his from 1973 to 1978, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Accounting Standards Committee
The International Accounting Standards Committee (IASC) was founded in June 1973 in London at the initiative of Sir Henry Benson, former president of the Institute of Chartered Accountants in England and Wales. The IASC was created by national accountancy bodies from a number of countries with a view to harmonizing the international diversity of company reporting practices. Between its founding in 1973 and its dissolution in 2001, it developed a set of International Accounting Standards (IAS) that gradually acquired a degree of acceptance in countries around the world. Although the IASC came to include some organizations representing preparers and users of financial statements, it largely remained an initiative of the accountancy profession. On 1 April 2001, it was replaced by the International Accounting Standards Board (IASB), an independent standard-setting body. The IASB adopted the extant corpus of IAS which it continued to develop as International Financial Reporting Standa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andreas Barckow
Andreas Barckow is the chairman of the International Accounting Standards Board (IASB). He became chairman of the IASB on 1 July 2021. He was previously the President of the Accounting Standards Committee of Germany. He previously worked for Deloitte. Upon becoming IASB chairman he stated that his top priorities are accounting for intangible assets An intangible asset is an asset that lacks physical substance. Examples are patents, copyright, franchises, goodwill, trademarks, and trade names, reputation, R&D, know-how, organizational capital as well as any form of digital asset such ... and addressing sustainability and ESG issues. References German accountants International Accounting Standards Board members Paderborn University alumni Living people Year of birth missing (living people) {{Accounting-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philosophy Of Accounting
The philosophy of accounting is the conceptual framework for the professional preparation and auditing of financial statements and accounts. The issues which arise include the difficulty of establishing a ''true and fair'' value of an enterprise and its assets; the moral basis of disclosure and discretion; the standards and laws required to satisfy the political needs of investors, employees and other stakeholders. The discipline of accounting insists that transparency is achievable. Fairness has an important role in the practice of accounting. Accordingly, it seems appropriate that philosophy as a relevant way of understanding truth and fairness in accounting is well considered. Some authors have already underlined the key role played by philosophy in accounting with principles such as substance over form, ethics, and accountability, therefore more abstract concepts like fairness, justice, equity, and truth have a due place in accounting. Introduction Often, accountants are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting Standard
Publicly traded companies typically are subject to rigorous standards. Small and midsized businesses often follow more simplified standards, plus any specific disclosures required by their specific lenders and shareholders. Some firms operate on the cash method of accounting which can often be simple and straightforward. Larger firms most often operate on an Basis of accounting, accrual basis. Accrual basis is one of the fundamental accounting assumptions, and if it is followed by the company while preparing the financial statements, then no further disclosure is required. Accounting standards prescribe in considerable detail what accruals must be made, how the financial statements are to be presented, and what additional disclosures are required. The term ''generally accepted accounting principles'' (GAAP) was popularized in the late 1930s. Some important elements that accounting standards cover include identifying the exact entity which is reporting, discussing any "going concern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Regulation
Banking regulation and supervision refers to a form of financial regulation which subjects banks to certain requirements, restrictions and guidelines, enforced by a financial regulatory authority generally referred to as banking supervisor, with semantic variations across jurisdictions. By and large, banking regulation and supervision aims at ensuring that banks are safe and sound and at fostering market transparency between banks and the individuals and corporations with whom they conduct business. Its main component is prudential regulation and supervision whose aim is to ensure that banks are viable and resilient ("safe and sound") so as to reduce the likelihood and impact of bank failures that may trigger systemic risk. Prudential regulation and supervision requires banks to control risks and hold adequate capital as defined by capital requirements, liquidity requirements, the imposition of concentration risk (or large exposures) limits, and related reporting and public di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Regulation
Financial regulation is a broad set of policies that apply to the financial sector in most jurisdictions, justified by two main features of finance: systemic risk, which implies that the failure of financial firms involves public interest considerations; and information asymmetry, which justifies curbs on freedom of contract in selected areas of financial services, particularly those that involve retail clients and/or principal–agent problems. An integral part of financial regulation is the supervision of designated financial firms and markets by specialized authorities such as securities commissions and bank supervision, bank supervisors. In some jurisdictions, certain aspects of financial supervision are delegated to self-regulatory organizations. Financial regulation forms one of three legal categories which constitutes the content of financial law, the other two being market practices and case law. History In the early modern period, the Dutch were the pioneers in finan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Accounting Organizations
International is an adjective (also used as a noun) meaning "between nations". International may also refer to: Music Albums * ''International'' (Kevin Michael album), 2011 * ''International'' (New Order album), 2002 * ''International'' (The Three Degrees album), 1975 *''International'', 2018 album by L'Algérino Songs * The Internationale, the left-wing anthem * "International" (Chase & Status song), 2014 * "International", by Adventures in Stereo from ''Monomania'', 2000 * "International", by Brass Construction from ''Renegades'', 1984 * "International", by Thomas Leer from ''The Scale of Ten'', 1985 * "International", by Kevin Michael from ''International'' (Kevin Michael album), 2011 * "International", by McGuinness Flint from ''McGuinness Flint'', 1970 * "International", by Orchestral Manoeuvres in the Dark from '' Dazzle Ships'', 1983 * "International (Serious)", by Estelle from '' All of Me'', 2012 Politics * Internationalism (politics) * Political international, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
