Support in the preparation of the Financial Statements and Notes to Financial Statements for disclosure and publication,in accordance with local and international accounting standards(CPC and IFRS).
On May 28, 2014, the FASB and the International Accounting Standards Board(IASB) issued converged guidance on recognizing revenue in contracts with customers.
In the Company's consolidated financial statements(under IFRSs), an impairment loss related to Sprint was not recognized in the third quarter due to the following reasons.
On 7 March 2013 the International Accounting Standards Board(IASB) published its long-awaited proposal for a newaccounting model for impairments of financial assets.
In June 2013, the International Accounting Standards Board(IASB) published a new exposure draft(ED) as part of Phase 2 of the project to develop a comprehensive accounting standard for insurance contracts(IFRS4).
Under IFRSs adopted by the Company, assets in cash-generating units are tested for impairment together as opposed to at the individual asset level or at a lower level asset grouping.
The reporting standard, which replaces International Accounting Standard 39, Financial Instruments: Recognition and Measurement becomes mandatory for years beginning on or after 1 January 2018.
We urged the International Accounting Standards Board and the Financial Accounting Standards Board to increase their efforts to complete their convergence project by the end of 2011.
In July 2014 the International Financial Reporting Standards(IFRS)issued the standard n.9 that will replace the International Accounting Standard(IAS) statement n.
On 27 June 2013 the International Accounting Standards Board(IASB) issued'Novation of Derivatives and Continuation of Hedge Accounting'(Amendments to IAS 39'Financial Instruments: Recognition and Measurement').
The International Accounting Standards Board(IASB) published a comprehensive Exposure Draft(ED) containing proposals for topical areas where it considers a revision and amendment of the existing Conceptual Framework necessary.
The International Accounting Standards Board is the independent standard setting body of the IFRS Foundation, made up of experts from diverse professional and geographical backgrounds.
The International Accounting Standards Board's long-awaited exposure draft on insurance contracts includes proposals on the recognition, measurement, presentation, and disclosure of the contracts.
We encourage the International Accounting Standards Board(IASB) and Financial Accounting Standards Board(FASB) to complete work promptly, and report to our next meeting.
We encouraged the International Accounting Standards Board to further improve the involvement of stakeholders, including outreach to emerging market economies, within the framework of the independent accounting standard setting process.
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