80 jurisdictions now require or permit use of the IFRS for SMEs Standard—a self-contained Standard specifically designed for small and medium-sized companies without public accountability—which was first issued in 2009.
A roundup of professionals in the tax and accounting profession that have changed jobs and/or been promoted.
The IASB has clarified that the use of revenue-based methods to calculate the depreciation of an asset is not appropriate because revenue generated by an activity that includes the use of an asset generally reflects factors other than the consumption of the economic benefits embodied in the asset.
The Trustees of the IFRS Foundation are seeking applications for membership of the IFRS Advisory Council, after the terms of a number of its members expire at the end of 2014. The primary objective of the Advisory Council is to provide a forum where the IASB and the Trustees consults individuals and representatives of organizations that are affected by its work and are committed to the development of high quality International Financial Reporting Standards (IFRSs).