International


The International Accounting Standards Board (IASB) published an ED to amend International Financial Reporting Standard (IFRS) 2, Share-based Payment ( www.iasb.org ) by stipulating that the vesting conditions an individual or organization must satisfy to receive shares concern only specified periods of service or required performance targets. It also requires that all cancellations of arrangements receive the same accounting treatment. If approved, the proposed amendments would apply for annual periods beginning on or after January 1, 2007, with earlier application encouraged. Comments on the ED are due June 2, 2006.

The IASB also revised Guidance on Implementing IFRS 4, Insurance Contracts, in order to reflect changes in that standard’s disclosure section made by IFRS 7, Financial Instruments: Disclosures.

The International Public Sector Accounting Standards Board of the International Federation of Accountants issued an ED, Revenue from Non-Exchange Transactions (Including Taxes and Transfers), that proposes establishing an international standard for reporting taxes and other major nonexchange sources of government revenue, including gifts, donations and transfers from other public-sector entities and international organizations ( www.ifac.org/eds ). Comments on the ED are due June 30, 2006.

SPONSORED REPORT

2018 financial reporting survey: Challenges and trends

Learn the top reporting challenges that emerged in a survey of more than 800 finance, accounting, and compliance professionals across the world, and compare them with your organization's obstacles.

PODCAST

How the skill set for today’s CFO is changing

Scott Simmons, a search expert for large-company CFOs, gives advice for the next generation of finance leaders and more, including which universities are regularly producing future CEOs and CFOs.