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Accounting Change???

  • 27-03-2007 8:44pm
    #1
    Ideo
    Registered Users, Registered Users 2 Posts: 1,618 ✭✭✭


    Hi,

    I have to do an accounting essay for my college course on the broad topic of Accounting Change and I am just looking for a little guidance on it. I was going to look at the EU's change from SSAP to IFRS but I cannot seem to find any website that deatils the change, motivations behind it, why it occured?? So would anybody know which direction to point me in?

    I'm not asking for you to do my homework in case your wondering, just want a pointer. Am I right in thinking that the IASB is behind IFRS? Also, do the US use IFRS?

    Sorry for the barrage of questions!


Comments

  • #2
    Hanley
    Banned (with Prison Access) Posts: 21,981 ✭✭✭✭Hanley


    I thought the FRS's were brought in so there was a greater standard of consistency across different nations than that which existed when SSAP were in place.

    I could be totally off the mark, but that's what I think my lecturer said..


  • #3
    Kinetic^
    Closed Accounts Posts: 13,249 ✭✭✭✭Kinetic^


    Hanley wrote:
    I thought the FRS's were brought in so there was a greater standard of consistency across different nations than that which existed when SSAP were in place.

    I could be totally off the mark, but that's what I think my lecturer said..

    Aye, but not all SSAPs were replaced. I only studied FRS/SSAP for a year and then moved on to the IFRS/IAS.

    From what I know the IFRS is a worldwide set of standards........please correct me though as I'm not 100% on that.


  • #4
    Hanley
    Banned (with Prison Access) Posts: 21,981 ✭✭✭✭Hanley


    Kenny 5 wrote:
    Aye, but not all SSAPs were replaced. I only studied FRS/SSAP for a year and then moved on to the IFRS/IAS.

    From what I know the IFRS is a worldwide set of standards........please correct me though as I'm not 100% on that.

    Does GAAP not still dominate the US?


  • #5
    Kinetic^
    Closed Accounts Posts: 13,249 ✭✭✭✭Kinetic^


    Dunno dude. Ask chump, he works in the Big 4 so I'd imagine he'd have some exposure to it.


  • #6
    lochie
    Closed Accounts Posts: 83 ✭✭lochie


    scooby_doo_no1 wrote:
    Hi,

    I have to do an accounting essay for my college course on the broad topic of Accounting Change and I am just looking for a little guidance on it. I was going to look at the EU's change from SSAP to IFRS but I cannot seem to find any website that deatils the change, motivations behind it, why it occured?? So would anybody know which direction to point me in?

    I'm not asking for you to do my homework in case your wondering, just want a pointer. Am I right in thinking that the IASB is behind IFRS? Also, do the US use IFRS?

    Sorry for the barrage of questions!

    ya check out the IASB website (http://www.iasb.org/Home.htm but to be honest that whole debate about the change to IFRS's is a little outdated by now...something topical at the moment is the change for SME's to the use of IFRSSE. The exposure draft for that was only released about 2 weeks ago

    the US do use IFRS. The IASB have loads of projects going on at the moment on Convergence which is basically changing parts of the IFRS's to get a compromise between the US FASB and IASB. This is because the US are not happy with some parts of the IFRS's and actually refuse to use parts of them.


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  • #7
    Ideo
    Registered Users, Registered Users 2 Posts: 1,618 ✭✭✭Ideo


    yeah that sounds interesting but would there be enough material on it to write 2000 words?! i was looking at this link http://www.iasb.org/Current+Projects/IASB+Projects/Small+and+Medium-sized+Entities/Small+and+Medium-sized+Entities.htm i just think there might be more material on the EU switch to IFRS


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