1988
- Jordan, Korea, and the Nordic Federation (representing accounting bodies in
Norway, Denmark, Sweden, Finland, and Iceland) join the IASC Board, replac-
ing Mexico, Nigeria, and Taiwan. - Financial instruments project started in conjunction with Canadian Accounting
Standards Board. - IASC published a survey on the use of IAS.
- FASB joins the Consultative Group and becomes an observer at the IASC board
table. - IASC holds board meetings in Dusseldorf, Toronto, and Copenhagen.
Exposure Drafts Published
Exposure Draft: Framework for the Preparation and Presentation of Financial State-
ments
Final Standards Published
None
1989
- European Accounting Federation (FEE) supports international harmonization
and greater European involvement in IASC. - IFAC adopts a public-sector guideline to require government business enter-
prises to follow IAS. - IASC holds board meetings in Brussels and New York.
- IASC publishes its Framework for the Preparation and Presentation of Financial
Statements.
Exposure Drafts Published
- E32, Comparability of Financial Statements
- E33, Accounting for Taxes on Income
- E34, Disclosures in the Financial Statements of Banks and Similar Financial In-
stitutions - E35, Financial Reporting of Interests in Joint Ventures
Final Standards Published
- IAS 27 (1989), Consolidated Financial Statements and Accounting for Invest-
ments in Subsidiaries - IAS 28 (1989), Accounting for Investments in Associates
- IAS 29 (1989), Financial Reporting in Hyperinflationary Economies
1990
- Statement of Intent—Comparability of Financial Statements.
- Arthur R. Wyatt of the United States becomes chairman of IASC.
- European Commission joins the Consultative Group and takes a seat at the
APPENDIX 16 • 27