TITLE

EFFECTS OF IFRS 10 AND 11 ACCOUNTING STANDARDS

PUB. DATE
November 2011
SOURCE
Accountancy;Nov2011, Vol. 148 Issue 1419, p57
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the effects of International Financial Reporting Standards (IFRS) 10, Consolidated financial statements, and IFRS 11, Joint arrangements. It states that the International Accounting Standards Board published an effects analysis for IFRS 10 and 11 but fails to say little about the wider effects of the two accounting standards. It comments that if the U.S. switches to IFRS, the result might be increase tax payments by organizations using last-in first-out accounting methods.
ACCESSION #
69728264

 

Related Articles

  • IFRS Tax Implications. Capodanno, Vincent // New Jersey CPA;Mar/Apr2012, Issue 32, p26 

    The article focuses on the implications of the International Financial Reporting Standards (IFRS) on the taxation of accounting firms. It says that last-in first-out (LIFO) method, which enables companies to prioritize most expensive inventory, is prohibited. It adds IFRS requires component...

  • A WEIGHTY SUBJECT. Davies, Andrew // Accountancy;Dec2011, Vol. 148 Issue 1420, p61 

    The article focuses on the International Financial Reporting Standards (IFRS) International Accounting Standards Board (IASB) and their issuance of four accounting standards in 2011. Information is provided on how the global financial crisis affected the standards, how they change the process...

  • IASB Proposes Postponing the Accounting Changes for Associates and Joint Ventures.  // CFO Innovation Asia;8/11/2015, p3 

    The article offers information on proposal regarding postponing the date for transactions in joint ventures made by the International Accounting Standards Board (IASB). Topics discussed include amendments to International Financial Reporting Standards (IFRS)10 Consolidated Financial Statements,...

  • IASB Postpones Accounting Changes for Associates and Joint Ventures.  // CFO Innovation Asia;12/30/2015, p1 

    The article reports on the postponed accounting changes between investors and associates or joint ventures by International Accounting Standards Board (IASB). It mentions that the applies to changes are for International financial reporting standards (IFRS) and consolidated financial statements....

  • Message from the Editor. Kass-Shraibman, Frimette // Journal of the CPA Practitioner;Apr/May2014, Vol. 6 Issue 2, p3 

    The article presents the author's insights on stopping the use of last in, first out (LIFO) by the International Accounting Standards Board and modernizing the overtime pay system in the U.S.

  • THE DEFENSES OF THE LAST IN FIRST IN INVENTORY METHOD. Harris, Peter; Kinkela, Katherine // Global Conference on Business & Finance Proceedings;2013, Vol. 8 Issue 1, p73 

    The Last in First out Method (LIFO) is presently under severe scrutiny from the financial community which may soon culminate in its repeal as an acceptable accounting method. There are pressures from the SEC in conjunction with the International Financial Accounting Standards Board (IFRS) to...

  • The Positive Outlook of the Last in First out Inventory Methods. Harris, Peter // Proceedings of the Northeast Business & Economics Association;2013, p93 

    Until very recently, the Last in First out Method (LIFO) was under severe scrutiny from the financial community, and its repeal as an acceptable accounting method seemed imminent. However, an SEC Report issued in July 2012 has greatly renewed the lifeline of LIFO indefinitely. In the unlikely...

  • PRACTICAL IMPEDIMENTS TO CONVERGENCE OF U.S. GAAP AND IFRS. Gray, Krista; Spencer, Angela; Pumphrey, Lela // European Scientific Journal;2015 Special Edition, p181 

    The purpose of this paper is to examine one very important area in which convergence between accounting standards in the United States (U.S), which are referred to in the U.S. as generally accepted accounting principles (GAAP), and international financial reporting standards (IFRS) has not been...

  • Abstracts of Recent Articles.  // Journal of Accounting, Auditing & Finance;Spring78, Vol. 1 Issue 3, p299 

    Presents several abstracts related to accounting. "A Tax Loss Trading Rule," by Ben Brauch; "Capital Commitments and the High Cost of Money," by Samuel L. Hayes; "Selection of the LIFO Method of Inventory Valuation: Management's Motive's and Investors Reaction," by Bikki Jaggi and Richard Kolodny.

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics