CONCEPTS AND DEFINITIONS
Eurostat's Concepts and Definitions Database

 

Term
International Accounting Standards (IAS)
Term extension
General concept
Definition
Authoritative statements of how particular types of transaction and other events should be reflected in financial statements.
Remark
International Accounting Standards (IASs) are developed by the International Accounting Standards Committee (IASC), whose purpose is to develop a single set of global accounting standards. Further to the restructuring of the IASC, the new Board on 1 April 2001, as one of its first decisions, renamed the IASC as the International Accounting Standards Board (IASB) and, as far as future international accounting standards are concerned, renamed IAS as International Financial Reporting Standards (IFRS). These standards should, wherever possible and provided that they ensure a high degree of transparency and comparability for financial reporting in the Community, be made obligatory for use by all publicly traded Community companies.
Source
John BLAKE, Henry LUNT, "Accounting Standards", Seventh Edition, Pearson Education Limited, Harlow, UK, 2001
Hyperlink
http://books.google.be/books?id=yw-nxVwsnswC&pg=PA373&lpg=PA373&dq=%22accounting+standards+are+authoritative+statements%22&source=bl&ots=2eO4-sg7HX&sig=v9U_-NWoXWTmyOtEE1laBePn8EA&hl=en&sa=X&ei=VHgnUdChE9OChQfr2oDwBQ&redir_esc=y#v=onepage&q=%22accounting%20standards%20are%20authoritative%20statements%22&f=false
Other link(s)
European Union, Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards
Link(s) to statistical data
- Does not exist!
Related terms
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  • SPECIALISED GLOSSARY - International Guidelines on statistical business registers
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