Thursday, May 12, 2011

Financial crisis-inspired standards released


NEW INTERNATIONAL International Financial Reporting Standards released today offer guidance on off-balance sheet activities, joint arrangements and disclosure of interests in other entities.

IFRS 10, 11 and 12 form a significant part of the International Accounting Standards Board's response to the financial crisis, dealing with when entities should be recognised in the consolidated financial statements of a parent company.

See full Article.