- IAS 38 (1998), Intangible Assets
- IAS 39 (1998), Financial Instruments: Recognition and Measurement
Revisions:
- IAS 16 (revised 1998), Property, Plant and Equipment
- IAS 19 (revised 1998), Employee Benefits
- IAS 22 (revised 1998), Business Combinations
- IAS 32 (revised 1998), Financial Instruments: Disclosure and Presentation
Final Interpretations Published
- SIC 5, Classification of Financial Instruments—Contingent Settlement Provi-
sions - SIC 6, Costs of Modifying Existing Software
- SIC 7, Introduction of the Euro
- SIC 8, First-Time Applications of IASs as the Primary Basis of Accounting
- SIC 9, Business Combinations—Classification either as Acquisitions or Unit-
ings of Interests - SIC 10, Government Assistance—No Specific Relation to Operating Activities
- SIC 11, Foreign Exchange—Capitalization of Losses Resulting from Severe
Currency Devaluations - SIC 12, Consolidation—Special-Purpose Entities
- SIC 13, Jointly Controlled Entities—Nonmonetary Contributions by Venturers
- SIC 14, Property, Plant and Equipment—Compensation for the Impairment of
Loss of Items
1999
- IOSCO begins its review of IASC core standards.
- IASC board meetings are opened to public observation. First public meeting is
held in Washington in March. - G7 Finance Ministers and IMF urge support for IASs to strengthen the interna-
tional financial architecture. - New IFAC International Forum on Accountancy Development (IFAD) commits
to support use of International Accounting Standards as the minimum bench-
mark for raising national accounting standards worldwide. - EC study finds no significant conflicts between IASs and the European Direc-
tives. EC adopts a financial services action plan that includes use of IASs as Eu-
ropean GAAP. - FEE reporting strategy for Europe strongly supports use of IAS in Europe with-
out requiring compliance with EC Accounting Directives, plus phase-out of U.S.
GAAP. - Eurasian Federation of Accountants and Auditors plans adoption of IASs in CIS
countries. - Various meetings of the Strategy Working Party to discuss the comments on
their initial proposal and to develop final recommendations. SWP publishes a
revised proposal.
APPENDIX 16 • 33