Canfor Pulp Income Fund Announces Third Quarter 2009 Results Oct 24, 2009
The Partnership continues to monitor standards development as issued by the International Accounting Standards Board (IASB) and the AcSB, as well as regulatory developments as issued by the Canadian Securities Administrators, which may affect the timing, nature or disclosure of the Partnership's adoption of IFRS. The IASB has issued several exposure drafts for new or amended IFRS, which will likely have mandatory application for the 2011 calendar year. For further details on the key elements of... (CCNMatthews Press Releases)
Challenges in implementing new financial reporting standards Oct 23, 2009
The issue of insurance liabilities measurement is currently being addressed in Phase II of IFRS 4 project by the IASB, and an exposure draft is anticipated to be issued before year-end. What are the key principles of FRS 4. (The Star Online, Malaysia -- Business)
MASB issues 4 exposure drafts Oct 13, 2009
PETALING JAYA: The Malaysian Accounting Standards Board (MASB) has issued four exposure drafts (ED) on improving disclosures about financial instruments, determining whether an arrangement contains a lease, transfers of assets from customers and syariah-compliant sale contracts. In a statement yesterday, MASB said ED 67 involved enhanced disclosure requirements that would help users evaluate an entity s exposure to liquidity risk and how such risk was managed. (The Star Online, Malaysia -- Business)
DST Systems, Inc. Announces Second Quarter 2009 Financial Results Jul 23, 2009
In August 2008, the FASB issued a revised exposure draft on a proposed accounting standard that would amend SFAS 128, Earnings per Share, to clarify guidance for mandatorily convertible instruments, the treasury stock method, contingently issuable shares, and contracts that may be settled in cash or shares ... The above information presents only the effect on diluted earnings per share of the "if converted" method included in the exposure draft, but does not include any other computational... (PR Newswire)
IASB rolls out final accounting guidelines Jul 16, 2009
"The main area of relief is in the property, plant and equipment. This has been simplified. There is no option to revalue assets. "Residual value depreciation method need only be reviewed where there is an indicator of change," Mackenzie said. The IFRS for SMEs is a separate, stand-alone financial reporting framework. It consists of the standard, illustrative financial statements, presentation and disclosure checklist. It is applicable where there is no public accountability and no listed debt... (Business Report, South Africa)
IASB clarifies prepayments for pension plans Jun 3, 2009
The exposure draft, entitled Prepayments of a Minimum Funding Requirement, is open for comment until 27 July 2009. See for more details. (Accounting Web, UK)
Closing the gap on fair value measurement May 30, 2009
Introducing the exposure draft, Sir David Tweedie, chairman of the IASB said: This exposure draft is an important milestone in our response to the global financial crisis ... We need to see what kind of response the exposure draft gets before we issue it as a final standard ... The proposals are set out in the exposure draft Fair Value Measurement which is open for comment until 28 September 2009. (Accounting Web, UK)
IFAC offers new financial reporting guidance for public sector May 16, 2009
The International Federation of Accountants (IFAC) has published two new exposure drafts which propose new guidance for accountants working in government and other public sector entities. Two new exposure drafts have been published: ED40 and ED41 ... "These two exposure drafts propose clear financial reporting requirements for an entity in the public sector in order to ensure that the private and public sectors report similar activities in a consistent fashion.". (Accounting Web, UK)
ARC Energy Trust announces first quarter 2009 results May 7, 2009
Future Accounting Changes International Financial Reporting Standards ("IFRS") In April 2008, the CICA published the exposure draft "Adopting IFRSs in Canada". The exposure draft proposes to incorporate IFRSs into the CICA Accounting Handbook effective for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011 ... Future Accounting Changes International Financial Reporting Standards ("IFRS") In April 2008, the CICA published the exposure draft... (Canada Newswire)
Cut off for IFRS implementation draws nearer Apr 20, 2009
Some companies are known to have engaged consultants to train their accounting, finance and treasury staff early almost immediately after MASB issued the exposure drafts of some of the complex standards. Obviously, they have seen this initiative as an investment and this has enabled them to stand ready to meet the financial reporting requirements as they become effective. (The Star Online, Malaysia -- Business)
Crocotta Announces 2008 Financial and Operating Results Mar 26, 2009
The IASB has issued an exposure draft relating to certain amendments to IFRS 1 in order to make it more useful to Canadian entities adopting IFRS for the first time. One such exemption relating to full cost oil and gas accounting is expected to result in a reduced administrative transition from the current Canadian AcG-16 to IFRS. This exposure draft will not result in an amended IFRS 1 standard until late in 2009 ... The IASB has issued an exposure draft relating to certain amendments to IFRS 1... (CCNMatthews Press Releases)
Delphi Energy Achieves Record Fourth Quarter 2008 Results Mar 19, 2009
The International Accounting Standards Board (IASB) has issued an exposure draft relating to certain amendments to IFRS 1 in response to potential challenges in jurisdictions, including Canada, adopting IFRS for the first time. The IASB is proposing additional optional exemptions, one of which relates to full cost oil and gas accounting, resulting in a reduced administrative transition from the current Canadian full cost accounting for oil and gas activities to IFRS. The exemption would permit... (CCNMatthews Press Releases)
Peyto Energy Trust announces ten successful years with fiscal 2008 year end results Mar 5, 2009
In April 2008, the CICA published the exposure draft "Adopting IFRSs in Canada". The exposure draft proposes to incorporate IFRSs into the CICA Accounting Handbook effective for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011. (PR Newswire)
Daylight Resources Trust Reports Year End 2008 Financials and Delivers Record Results- Increased Production and 175% Reserve Replacement Highlight Record Year Mar 5, 2009
The International Accounting Standards Board ("IASB") has also issued an exposure draft relating to certain amendments and exemptions to IFRS 1. It is anticipated that this exposure draft will not result in an amended IFRS 1 standard until late 2009. (CCNMatthews Press Releases)
Applying IFRS to small companies - update. By Steve Collings Feb 14, 2009
Adoption of IFRS by the SME SectorThe IASB has issued an Exposure Draft on their proposed standard and is expected to issue a final standard in the second quarter of 2009. So how will this impact on companies in the UK. (Accounting Web, UK)
