support for global accounting standards. Leaders of the Group of 20 (G20) called for global accounting standards and urged the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) to complete their convergence projects in 2011. A summary of the IASB and FASB's efforts regarding IAS 22 Business Combinations Superseded by IFRS 3 effective 31 March 2004 1998* IAS 23 Borrowing Costs 2007* IAS 24 Related Party Disclosures 2009* IAS 25 Accounting for Investments Superseded by IAS 39 and IAS 40 effective 2001 IAS 26 Accounting and Reporting by Retirement Benefit Plans 1987 IAS 27 Separate Financial Statements (2011) 2011 IAS 27 Consolidated and Separate Financial Statements The International Accounting Standards Committee (IASC) requires companies use IAS 39 and IAS 32 in accounting for financial instruments and hedging activities. But this causes problems, says the The International Accounting Standards Committee has, so far issued the following International Accounting Standards: IAS No. Accounting Standard Name Issued Year IAS - 1 Presentation of financial statements 2007 IAS - 2 Inventories 2005 IAS - 3 Consolidated Financial Statements ing an introduction to the content of the standards. The standards, IAS 1 through IAS 41, which are currently in force, are covered. Those not mentioned are already superseded. The current IAS can be found in the following publication: International Accounting Standards Committee (ed.): International Accounting Standards 2001. London 2001. In April 2001 the International Accounting Standards Board (Board) adopted IAS 1 Presentation of Financial Statements, which had originally been issued by the International Accounting Standards Committee in September 1997. IAS 1 Presentation of Financial Statements replaced IAS 1 Disclosure of Accounting Policies (issued in 1975), IAS 5 (a) Indian Accounting Standards (Ind AS) converged with International Financial Reporting Standards (IFRS) and applicable for specified class of companies as per MCA notification dated 16 February 2015. (b) Accounting Standards notified under Companies (Accounting Standards) Rules, 2006 for companies other than those following Ind ASs. Paper F3, Financial Accounting Lecture by: Miss Atiqa Rehman INTERNATIONAL ACCOUNTING STANDARDS 1. IAS - 38 : Intangible Assets Intangible assets should be identifiable non-monetary assets without physical existence and is controlled by the entity. • No Physical Existence • Can be purchased or self generated by business In ternational convergence in accounting standards under the leadership of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) in the United States has now progressed to the point where more than 100 countries currently subscribe to the International Financial Reporting Standards (IFRS). International Accounting - Free download as Powerpoint Presentation (.ppt / .pptx), PDF File (.pdf), Text File (.txt) or view presentation slides online. Scribd is the world's largest social reading and publishing site. • Module 2: International accounting standards and organizations - Unit 1: International accounting standard setting All International Accounting Standards Pdf will sometimes glitch and take you a long time to try different solutions. LoginAsk is here to help you access All International Accounting Standards Pdf quic