Immaterial and International Accounting Standards Board: Difference between pages

Revision as of 14:59, 22 February 2014

(IASB).

An independent, privately-funded accounting standard-setter based in the UK.

It is committed to developing a single set of high quality, understandable and enforceable global accounting standards.

In addition, it co-operates with national accounting standard-setters to achieve convergence in accounting standards around the world.

It works within the IFRS Foundation.

@@ Line 1: / Line 1: @@
-''Risk management - financial reporting.''
+(IASB).
-Immaterial risks are ones that do not require active risk management, because of their small size, low likelihood or both.
+An independent, privately-funded accounting standard-setter based in the UK.
+It is committed to developing a single set of high quality, understandable and enforceable global accounting standards.
-In financial reporting, immaterial items do not need to be accounted for or disclosed separately.
+In addition, it co-operates with national accounting standard-setters to achieve convergence in accounting standards around the world.
-Items may be material by size, or material by their nature.
+It works within the IFRS Foundation.
-Immaterial items are sometimes known as ''non-material'' items.
 == See also ==
-* [[Financial reporting]]
+* [[Accounting Council]]
-* [[Materiality]]
+* [[Generally accepted accounting principles]]
-* [[Risk management]]
+* [[IFRS Interpretations Committee]]
+* [[International Financial Reporting Standards]]
+* [[IFRS Foundation]]
-[[Category:Accounting,_tax_and_regulation]]
+[[Category:Accounting_and_Reporting]]
-[[Category:The_business_context]]
-[[Category:Identify_and_assess_risks]]
-[[Category:Manage_risks]]
-[[Category:Risk_frameworks]]
-[[Category:Risk_reporting]]