Harmonization of Accounting Standards withing the Caribbean & the ...

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January 2005 Board52Providing solutions that countDecisions• The Board decided, inter alia, , that• Recognition and measurementsimplifications will be considered– basedon user needs and cost/benefit.• “Mandatory fallback” was approved• “Optional fallback” was not approvedDavid Raggay June, 2005
January 2005 Board53Providing solutions that countDecisions• The Board decided, inter alia, , that• IASB Standards for SMEs will focus on financialreporting by those non-publicly accountableentities that have external users of their financialstatements (ieusers other than owner-managers).This is because the IASB Framework for thePreparation and Presentation of FinancialStatements (the IASB Framework) does not dealwith management reporting or regulatoryreporting. Jurisdictions could, of course, chooseto permit or require them for all SMEs, , includingvery small ones.David Raggay June, 2005
Page 3: Harmonization3Providing solutions t
Page 8 and 9: World Capital Markets8Providing sol
Page 10 and 11: Harmonization vs10Providing solutio
Page 12 and 13: 12Adoption of IFRSProviding solutio
Page 14 and 15: IFRS Convergence14Providing solutio
Page 16 and 17: International16Providing solutions
Page 18 and 19: The Caribbean18Providing solutions
Page 20 and 21: CSME20Providing solutions that coun
Page 22 and 23: Financial Reporting In22Providing s
Page 24 and 25: Regulatory Framework24Providing sol
Page 26 and 27: Financial Reporting In26Providing s
Page 28 and 29: Structure Of The IASB28Providing so
Page 30 and 31: Structure of the IASB30Providing so
Page 32 and 33: Convergence With IFRS32Providing so
Page 34 and 35: Practice Monitoring34Providing solu
Page 36 and 37: Why address the36Providing solution
Page 38 and 39: Financial Reporting38Providing solu
Page 40 and 41: Financial Reporting40Providing solu
Page 42 and 43: International Financial42Providing
Page 44 and 45: Issues to Consider44Providing solut
Page 46 and 47: Results of Consultation46Providing
Page 48 and 49: National Standard-SettersSetters48P
Page 50 and 51: National Standard-SettersSetters50P
Page 54 and 55: February 2005 Board54Providing solu
Page 56 and 57: February 2005 Board56Providing solu
Page 58 and 59: Impact58Providing solutions that co
Page 60 and 61: 60Providing solutions that countCon
Page 62 and 63: 62Conclusions andProviding solution
Page 64 and 65: 64Providing solutions that countCon
Page 66: 66Providing solutions that countTHA

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