Financial Reporting and Ethics - The Institute of Chartered ...

FINANCIAL REPORTING AND ETHICSIAS 38 Intangible Assets 1998IAS 39 Financial Instruments: Recognition & Measurement 1999IAS 40 Investment Property 2000IAS 41 Agriculture 2001IFRS 1 First-time Adoption of IFRSs.IFRS 2 Share-Based Payments.IFRS 3 Business CombinationsIFRS 4 Insurance Contracts.IFRS 5 Non-Current Assets held for Sale & Discontinued OperationsIFRS 6 Exploration for & Evaluation of Mineral Resources.IFRS 7 Financial Instruments: Disclosures.Source: Comparative International Accounting, Nobes, C. and Parker, R. Prentice Hall (2006); andUnshackling Accountants, Myddelton, D.R., The Institute of Economic Affairs 2 Lord North StreetWestminster London sw1p 3lb (2004).NB: Where two dates are given (e.g. 1986/94) this denotes date of first issue followed by date ofrevision. Where three dates are given (e.g. 1985/95–98) the third date relates to further revision.The IAS in asterisk are withdrawn, suspended or superseded by other standards.Table 2: STATEMENTS TEMENTS OF ACCOUNTING STANDARDS ISSUED SO FARARSince its establishment in 1982, the NASB has issued 30 accounting standards which include:SAS 1 Disclosure of Accounting PoliciesSAS 2 Information to be Disclosed in Financial StatementsSAS 3 Accounting for Property, Plant and EquipmentsSAS 4 StocksSAS 5 Construction ContractsSAS 6 Extraordinary Items and Prior Year AdjustmentsSAS 7 Foreign Currency Conversions and TranslationsSAS 8 Accounting for Employees Retirement BenefitsSAS 9 Accounting for DepreciationSAS 10 Accounting for Banks and Non-Banks Financial Institutions (Part I)SAS 11 LeasesSAS 12 Accounting for Deferred TaxesSAS 13 Accounting for InvestmentsSAS 14 Accounting in the Petroleum Industry: Upstream ActivitiesSAS 15 Accounting for Banks and Non-Banks Financial Institutions (Part II)SAS 16 Accounting for Insurance CompaniesSAS 17 Accounting in the Petroleum Industry: Downstream ActivitiesSAS 18 Statement of Cash flowsSAS 19 Accounting for TaxesSAS 20 Abridge Financial StatementsSAS 21 Earnings Per ShareSAS 22 Research and Development CostsSAS 23 Provisions, Contingent Liabilities and Contingent AssetsSAS 24 Segment ReportingSAS 25 Telecommunications ActivitiesSAS 26 Business CombinationsSAS 27 Consolidated and Separate Financial StatementsSAS 28 Investments in AssociatesSAS 29 Interests in Joint VenturesSAS 30 Interim Financial Reporting290