International Finance and Accounting Handbook

(avery) #1

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
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