International Finance and Accounting Handbook

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  • IASC holds Board meetings in Sao Paulo, Copenhagen, Tokyo, London.

  • As one of its last official acts, the IASC board approves a Statement to the new
    IASC board commenting on projects to be carried forward and possible addi-
    tional projects to be undertaken.


Exposure Drafts Published



  • E66, Financial Instruments: Recognition and Measurement—Limited Revisions
    to IAS 39

  • E67, Pension Plan Assets

  • E68, Income Tax Consequences of Dividends


Final Standards Published


New:IAS 40 (2000), Investment Property
Revisions:



  • IAS 12 (revised 2000), Income Taxes

  • IAS 19 (revised 2000), Employee Benefits

  • IAS 28 (revised 2000), Accounting for Investments in Associates

  • IAS 31 (revised 2000), Financial Reporting of Interests in Joint Ventures


Final Interpretatons Published



  • SIC 17, Equity—Costs of an Equity Transaction

  • SIC 18, Consistency—Alternative Methods

  • SIC 19, Reporting Currency—Measurement and Presentation of Financial
    Statements under IAS 21 and IAS 29

  • SIC 20, Equity Accounting Method—Recognition of Losses

  • SIC 21, Income Taxes—Recovery of Revalued Non-Depreciable Assets

  • SIC 22, Business Combinations—Subsequent Adjustment of Fair Values and
    Goodwill Initially Reported

  • SIC 23, Property, Plant and Equipment—Major Inspection or Overhaul Costs

  • SIC 24, Earnings Per Share—Financial Instruments that May Be Settled in
    Shares

  • SIC 25, Income Taxes—Changes in the Tax Status of an Enterprise or its Share-
    holders International Accounting Standards Board (IASB) Starting 2001


2001



  • Trustees appoint the initial 14 members of the International Accounting Stan-
    dards Board.

  • In March 2001, IASC Trustees activate Part B of IASC’s new constitution and
    establish a nonprofit Delaware corporation, named the International Accounting
    Standards Committee Foundation, to oversee the IASB.

  • On April 1, 2001, the new IASB takes over from the IASC the responsibility for
    setting International Accounting Standards. New board holds its first meeting,
    adopts existing IASs and SICs, and deliberates its agenda and other issues.

  • Trustees appoint 49 charter members to the IASB Standards Advisory Council.
    First SAC meeting is held in July.


APPENDIX 16 • 35
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