Final Standards Published
- IAS 11 (1979), Accounting for Construction Contracts
- IAS 12 (1979), Accounting for Taxes on Income
- IAS 13 (1979, Presentation of Current Assets and Current Liabilities
1980
- J. A. (Hans) Burggraaff of the Netherlands becomes chairman of IASC.
- IASC publishes a discussion paper on bank disclosures (project funded by
“Group of Ten” Bank Governors). - IASC holds board meetings in London, Berlin, and Dublin.
- United Nations Intergovernmental Working Group on Accounting and Report-
ing meets for first time. IASC proposes a cooperative working arrangement with
UN group.
Exposure Drafts Published
- E15, Reporting Financial Information by Segment
- E16, Accounting for Retirement Benefits in the Financial Statements of Em-
ployers - E17, Information Reflecting the Effects of Changing Prices
- E18, Accounting for Property, Plant and Equipment in the Context of the His-
torical Cost System - E19, Accounting for Leases
Final Standards Published
None
1981
- Geoffrey B. Mitchell becomes Secretary of IASC. Title is changed to Secretary-
General during his tenure. - IASC Consultative Group is formed to advise IASC on agenda projects and pri-
orities. Consultative Group members represent both accounting and nonac-
counting organizations with an interest in financial reporting (stock exchanges,
bankers, lawyers, business, unions, government, United Nations, World Bank,
OECD, etc.). First meeting in October 1981. - IASC begins a joint project on accounting for income taxes with standard set-
ters from the Netherlands, the United Kingdom, and the United States. - IASC holds board meetings in London (2) and Tokyo.
Exposure Drafts Published
- E20, Revenue Recognition
- E21, Accounting for Government Grants and Disclosure of Government Assis-
tance - E22, Accounting for Business Combinations
Final Standards Published
- IAS 14 (1981), Reporting Financial Information by Segment
- IAS 15 (1981), Information Reflecting the Effects of Changing Prices
16 • 24 INTERNATIONAL FINANCIAL REPORTING STANDARDS