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ACCTUAL Fixed Asset Register
International Financial Reporting Standards (IFRS) and the controversial IAS 39
Things are happening in the world of depreciation of assets. Sweeping changes to certain aspects of depreciation will affect the way you keep records of your assets.
Please visit the Acctual Forum to see how this is going to affect you.
A Fairwell to History
http://www.cfo.com/article.cfm/3258520?f=search
As historical cost accounting gives way to fair value, Europe's CFOs are bracing for turbulent times.
Justin Wood, CFO Europe November 29, 2004
The countdown is on. The deadline for all EU-listed companies to adopt International Financial Reporting Standards (IFRS) — including controversial IAS 39 — is just around the corner. For the investor community seeking comparability of financial reports, that's good news. But for many CFOs that will mean grappling with one of the most contentious issues in accounting today — fair value.
Of course, banks and other financial institutions have found themselves squarely at the centre of the fair value debate thanks to IAS 39, which requires them to record a range of financial instruments such as derivatives and bonds at fair value on the balance sheet. Any changes in the value of those instruments must then be fed through a company's income statement, or else shown in shareholders' equity, depending on the instrument. The impact could be big, particularly given that, up until now, many financial assets and liabilities have been held at historical cost rather than fair value, or else not recorded on the balance sheet at all.
Here are some more important links!
IAS Plus International Accounting Standards Summaries of IASB Standards
http://www.icaew.co.uk/library/index.cfm?AUB=TB2I_35393,MNXI_35393
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