The sri lanka accounting and auditing standards act no. Ipsas 39 should be read in the context of its objective, the basis for conclusions, the preface to international public sector accounting standards. It is international accounting standard 33 earning per share, which was released in december 2003. International accounting standards iass were issued by the antecedent international accounting standards council iasc, and endorsed and amended by the international accounting standards board iasb. List of international financial reporting standards wikipedia. Links to summaries, analysis, history and resources for international financial reporting standards ifrs and international accounting standards ias, ifric interpretations, sic interpretations and other pronouncements issued by the international accounting standards board iasb and its related bodies. The international accounting standards board has tried to address the application issues publishing proposed. International accounting standard 33 earnings per share.
Asc hosted the 10 th annual meeting of asianoceanian standard. Frs 102 the financial reporting standard applicable in the. The international financial reporting standards foundation is a notforprofit corporation incorporated in the state of delaware, united states of america, with the delaware division of companies file no. For the requirements reference must be made to international financial reporting standards. Pdf earning per share under international accounting. Listing of international financial reporting standards international financial reporting standards are developed by the international accounting standards board. Ias 33 sets out how to calculate both basic earnings per share eps and diluted eps. Mcenroe department of accountancy and management information systems mis, depaul university, chicago, illinois, usa. T he international accounting standards committee issued international accounting standard ias no. The iasc issues international accounting standard no. A proposed international accounting standard reporting turnover and tax by location 4 objectives the objective of this proposed international accounting standard ias is to ensure that financial statements accounts of a reporting entity that is itself a transnational corporation tnc, or which is a tnc due to being the parent. The international public sector accounting standards board ipsasb is a board of ifac. An empirical analysis of an application of an alternative.
They are the public sector equivalent of international financial reporting standards ifrs, which apply to private sector companies and are dev eloped by the international accounting. Accounting standards ipsass was issued in january 2015. The acca certificate in international public sector accounting standards known. This is a list of the international financial reporting standards ifrss and official interpretations, as set out by the ifrs foundation.
This ifrs overview provides a summary of the recognition and measurement requirements of international financial reporting standards ifrss issued by the international accounting standards board iasb up to october 2017. Asc invites public comment on various exposure drafts. The calculation of basic eps is based on the weighted average number of ordinary shares outstanding during the period, whereas diluted eps also includes dilutive potential ordinary shares such as options and convertible instruments if they meet certain criteria. Ipsas 33 should be read in the context of its objective, the basis for conclusions, the preface to. The commission is proposing this roadmap towards requiring the use of international financial reporting standards ifrs as issued by the international accounting standards board iasb28 by u. Technical summary this extract has been prepared by iasc foundation staff and has not been approved by the iasb. The iasc worked closely with the financial accounting standards board in drafting the standard, which is very similar to the recently released fasb statement no. Access to ifrs technical summaries and unaccompanied standards the core standards, excluding content such as basis for conclusions is available for free from the iasb website. This frs is a single financial reporting standard that applies to the financial statements of entities that are not applying euadopted ifrs, frs 101 or frs 105.
Sec sec encouraged the efforts of the international accounting standards committee to develop a core set of accounting standards. Ias 33 was reissued in december 2003 and applies to annual periods beginning on or after 1 january 2005. An accounting standards update is not authoritative. It develops accounting standards for the public sector. International accounting standard 10 events after the reporting period objective 1 the objective of this standard is to prescribe. This international public sector accounting standard ipsas is drawn primarily from international accounting standard ias 1 revised december 2003, presentation of financial statements published by the international accounting standards board iasb. Ias 33 earnings per share the objective of this standard is to prescribe principles for the determination and.
The following brief presentation of the individual international accounting standards ias should provide easy orientation for anyone who encounters an individual standard in the context of their work or who simply wants to obtain a quick overview. Listing of international financial reporting standards. Acca certificate in international public sector accounting. Ias 33 deals with the calculation and presentation of earnings per share eps. Firsttime application of international financial reporting standards. International accounting standards presentation and.
Improvements to existing international accounting standards 20012003. Objective 1 the objective of this standard is to prescribe principles for the determination and presentation of earnings per share, so as to improve performance comparisons between different entities in the same reporting period and between different. The international accounting standards board has tried to address the application issues. Ias 1 sets out the overall requirements for financial statements, including how they should be structured, the minimum requirements for their content and overriding concepts such as going concern, the accrual basis of accounting and the currentnoncurrent distinction. Ias 36 applies to all assets except those for which other standards address impairment. The iasb will also reissue standards in this series where it considers it appropriate. It includes accounting standards either developed or adopted by the international accounting standards board iasb, the standard setting body of. Financial accounting standards board fasb and the international accounting standards board iasb, this statement outlines certain of these factors that are of particular importance to the commission as it continues to evaluate ifrs through 2011. International accounting standards iass were issued by the antecedent international. International public sector accounting standard 39, employee benefits, is set out in paragraphs 1178. Ipsas 33, firsttime adoption of accrual basis international public sector.
Issued by the international public sector accounting standards board ipsasb, they are cashbased standards and accruals standards used for the preparation of general purpose financial statements by governments and other public sector entities around the world. Asc issues singapore financial reporting standards international. The objective of this standard is to prescribe principles for the determination and. Ipsas 33, firsttime adoption of accrual basis ipsass ifac. However, despite ias 33 earnings per share being in existence for some years, questions. The exceptions include inventories, deferred tax assets, assets arising from employee benefits, financial assets within the scope of ifrs 9, investment property measured at fair value, biological assets within the scope of ias 41, some assets arising from. Indian accounting standard ind as 33 earnings per share mca. You get heard if you participate accas interview with asc deputy chairman. The project was undertaken in the light of queries and criticisms raised in relation to the standards by securities regulators, professional accountants and other interested parties.
International financial reporting standards ifrss issued by the international accounting standards board iasb up to october 2018. Institutions public sector, including government units, departments, intergovernmental agencies, nonprofit organizations, and other public service agencies have always relied on the use of the cash basis accounting as opposed to the accrual basis. International accounting standards ias are older accounting standards issued by the international accounting standards board iasb, an independent international standard. Pdf international accounting standard 12 income tax. International accounting standards, international financial reporting standards, niif and sic. In2 the international accounting standards board developed this revised ias 21 as part of its project on improvements to international accounting standards. International accounting standard 33 earnings per share objective 1 the objective of this standard is to prescribe principles for the determination and presentation of earnings per share, so as to improve performance comparisons between different entities in the same reporting period and between different reporting periods for the same entity. International standard on auditing isa 330, the auditors responses to assessed risks should be read in conjunction with isa 200, overall objectives of the independent auditor and the conduct of an audit in accordance with international standards on auditing. The accounting standard ias 32 sets out the principles for presenting financial instruments as liabilities or equity and for offsetting financial assets and liabilities. List of international financial reporting standards.
This hong kong financial reporting standard contains international accounting standards. The commission has directed its staff to develop and execute a work plan the. Ipsas 33 international public sector accounting standard 33, firsttime adoption of accrual basis international public sector accounting standards ipsass is set out in paragraphs 1154. The explanantory texts dont intend to completely describe the complex regulations. Nonpublic entities electing to present eps must also follow the standard.
International accounting standard 12income tax regulates accounting methodic of profit tax and demands that the enterprises must account the deferred tax asset and the deferred tax liability. The standard requires a complete set of financial statements to comprise a statement of financial position, a statement of. It allows firsttime adopters three years to recognize specified assets and liabilities. In 2005, the high level committee on management hlcm recommended the adoption of international public sector accounting standards ipsas by the united nations system. An empirical analysis of an application of an alternative measurement model on international accounting standard 33, earnings per share. Commission statement in support of convergence and global. Frs 102 the financial reporting standard applicable in the uk and republic of ireland. Pdf international public sector accounting standards ipsas. International accounting standards presentation and disclosure checklist instructions for completion of this checklist this checklist is intended to aid the user in determining if the presentation and disclosure requirements of international accounting s tandards ias have been met. International financial reporting standards ifrs and. Analyzing the comparability of national accounting as well as auditing standards with international standards, determine the degree with which applicable auditing and accounting standards are complied, and analyze strengths and weaknesses of the institutional framework in. International public sector accounting standards ipsass. List of accounting standards as 2 of icai download.
Sri lanka accounting standard lkas 12 income taxes sri lanka accounting standard lkas 12 income taxes is set out in paragraphs 189. First time adoption of accrual basis international public. Improvements to existing international accounting standards 2001 2003. List of accounting standards as 2 of icai download pdf copy jul 1, 2019 accounting kewal garg accounting standards as 2 are issued amended by the accounting standards board of icai, to establish uniform standards for preparation of financial statements, in accordance with indian gaap generally accepted accounting practices, for. International public sector accounting standards board. Asc issues sfrs i 17 insurance contracts and frs 117 insurance contracts.
Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments. Pdf international public sector accounting standards. The first is the current international accounting standard 33 earnings per share ias 33 approach which is based. Impairment of assets ias 36 33 lease accounting ias 17, ifrs 16 34 inventories ias 2 35 provisions and contingencies ias 37 36. International accounting standard 10 events after the. Earnings per share ias 33 handbook kpmg international. Pdf international accounting standard 33 earnings per.
487 574 508 463 1291 305 1510 647 121 213 1544 1274 1544 1361 1479 998 671 1352 83 1193 954 1316 1455 222 646 1364 614 713 844 930 1448 332 546