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Article Abstract:

All AIM-listed companies have to report their results under International Financial Reporting Standards (IFRS) for accounting periods beginning on or after January 1, 2007. Several areas of differences between the hitherto followed U.K. accounting standards and IFRS are discussed, particularly in acquisition accounting, and tips provided for preparing a planned, appropriate financial statement.

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Learning to share

Article Abstract:

The International Accounting Standards Board (IASB) issued a new accounting standard, International Financial Reporting Standards or IFRS 2, Share-based Payment, at the end of February 2004. A discussion on the salient features of the IFRS 2, which sets out financial reporting requirements for share-based payment transactions, is presented.

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Accountants must say no to marginalization

Article Abstract:

The accounting profession is commercial and relevant to corporate governance, but faces many constraints from disproportionate regulation and a rules-driven approach to standards. Accountants should work together to ensure that government policies do not marginalize their professional judgment and experience.

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