International


The IASB’s former standing interpretations committee—now the international financial reporting interpretations committee—issues guidance ( www.iasb.org.uk/cmt/0001.asp ) on accounting for Web site costs under international accounting standards (IASs). The interpretation clarifies existing requirements of IAS 38, Intangible Assets, that apply to expenses associated with an entity’s development and operation of an Internet site. If the enterprise applies the new interpretation and recognizes the site as an intangible asset, it must amortize the operating expenses over a brief period unless that site actively serves a market and its operating costs are regularly evaluated.

SPONSORED REPORT

States look to unclaimed property for revenue

This free report outlines the escheat process, common types of AUP, how different states are handling it and how companies can plan for potential audits and liabilities.

PODCAST

Using drones to enhance audits

Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.