Financial reporting and global capital markets: a history of the International Accounting Standards Committee, 1973-2000
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Oxford [u.a.]
Oxford Univ. Press
2007
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| Ausgabe: | 1. publ. |
| Schlagworte: | |
| Online-Zugang: | Table of contents only Klappentext Inhaltsverzeichnis |
| Beschreibung: | Hier auch später erschienene, unveränderte Nachdrucke |
| Beschreibung: | XXIII, 676 S. Ill. |
| ISBN: | 0199296294 9780199296293 |
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| 245 | 1 | 0 | |a Financial reporting and global capital markets |b a history of the International Accounting Standards Committee, 1973-2000 |c Kees Camfferman and Stephen A. Zeff |
| 250 | |a 1. publ. | ||
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| 500 | |a Hier auch später erschienene, unveränderte Nachdrucke | ||
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| 610 | 2 | 4 | |a International Accounting Standards Committee |
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| 650 | 7 | |a Standaardisatie |2 gtt | |
| 650 | 4 | |a Accounting |x Standards | |
| 650 | 4 | |a Financial statements |x Standards | |
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Datensatz im Suchindex
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| adam_text | Kees Camfferman is Professor of Financial Accounting
at the Vrije Universiteit Amsterdam,
(the Netherlands). His
international academie
development of financial reporting practices and of the
institutional framework of financial reporting from the
1
Stephen A. Zeff
Accounting Association and a former editor of The Accounting
Review. He has been inducted into the Accounting Hall of
Fame, and the AAA has given him its Outstanding Accounting
Educator award. He has lectured in more than fifty countries
and has served as the International research adviser to the
Institute of Chartered Accountants of Scotland. His primary
research interest Is the comparative history of accounting
standard setting and regulation.
Standardization and harmonization of accounting practices is a fundamental element of a global
business environment. Achieving this is a complex process that involves technical and political
negotiation. The International Accounting Standards Committee {IASC) was the organization that
pioneered this process on a world-wide basis.
The IASC prepared the way for the International Accounting Standards Board (IASB) and its
International Financial Reporting Standards, which since
overthe financial reporting of thousands of listed companies in the European Union, as well as in
many other countries.
The forces and influences that shaped the formation of the IASB were intimately connected with
the historical organization and operation of its predecessor, the IASC, and so to understand the
standards enforced in financial reporting today, a historical understanding of the IASC is required.
Financial Reporting and Global Capital Markets does just this. It examines the history of the IASC
from
achievements and setbacks, the development of its standards, and Its restructuring leading up
to the creation of the lASB in
The book also studies the impact of the lASC s standards on national standard setting and on
accounting practice in developed and developing countries, as well as the impact on the IASC of
the policies and positions of the UN, the
International Organization of Securities Commissions, and the European Commission. It will be
of vital interest to all concerned with accounting developments in a global environment, be they
academics, policy-makers, or professionals.
Contents
List of Figures xv
List of Tables xvi
Foreword xvii
Preface xix
List of Abbreviations xxi
1. Introduction and Overview 1
1.1. Approach 2
1.2. Overview 4
1.2.1. The Antecedents and Founding of the IASC 5
1.2.2. The IASC to 1987 6
1.2.3. The IASC from 1987 to 2000 9
PART I. ORIGINS
2. Origins of International Accounting Harmonization 21
2.1. International Economic Integration and Accounting Harmonization 21
2.2. The Creation of Regional Accountancy Bodies 23
2.3. Calls for Uniformity of Accounting Standards 23
2.4. International Accounting in the United States 25
2.5. Accountants International Study Group 26
2.5.1. National Programmes for Establishing Accounting Principles 27
2.5.2. Formation of the Study Group 29
2.5.3. Benson s Motivations 30
2.5.4. The Initial Work of the Study Group: The Inventories Booklet 31
2.5.5. The Remaining Work of the Study Group 32
2.6. An International Accounting Secretariat 37
2.7. Accounting Harmonization in the EEC and the Role of the UEC 38
2.8. The Stage for the IASC 41
3. The Founding of the IASC 43
3.1. The Initiative to Form an International Accounting Standards
Committee 43
3.2. Benson s Role and Motivation 44
3.3. General Reactions to the IASC Proposal 46
3.4. Main Features of the 1973 Agreement and Constitution 48
3.4.1. Participating Countries and Accountancy Bodies 48
3.4.2. Relations with ICCAP 49
3.4.3. Objective and Scope of Activities 51
3.4.4. Compliance, Best Endeavours and Voting 52
vi Contents
3.4.5. Financing 53
3.4.6. Location 53
3.5. Reactions to the Founding of the IASC 54
3.5.1. Reactions within the UEC 55
3.5.2. Impact on the Accountants International Study Group 57
PART II. 1973-87
4. The People and the Structure of the IASC 61
4.1. The Chairmen 61
4.2. Composition ofthe Original Delegations to the IASC 64
4.3. Evolution ofthe Delegations to 1987 67
4.4. Delegations Subsequently Added 71
4.5. Incorporation of Associate Members 73
4.6. The Technical Staff 74
4.7. The Official Language(s) 77
4.8. Link with the ICAEW 78
4.9. The Early Plan for the Approval and Production of Standards 79
4.10. Composition of the Project Steering Committees 79
4.11. Communications 80
4.12. Meetings ofthe Committee (from 1977 Onwards, the Board) 80
4.13. Finances 82
4.14. Changes in 1977 in the Agreement and Constitution 84
4.15. The Organisation and Planning Committee (OPC) 85
4.16. The Consultative Group 86
4.17. Changes in 1982 in the Agreement and Constitution 87
4.18. IASC/IFAC Co-ordinating Committee 89
4.19. The IASC s Major Reassessment of Its Future Plans in 1987 89
5. Compromise to Harmonise : Setting the IASC s Early Standards 90
5.1. Overview 90
5.2. Working Arrangements and Composition of Steering Committees 90
5.3. Review ofthe Technical Projects 1973-87 93
5.4. The First Standard: IAS 1 93
5.5. Tempered Ambitions: IAS 2 to IAS 5 96
5.5.1. IAS 2: Inventories 97
5.5.2. IAS 3: Consolidated Financial Statements and the Equity
Method 99
5.5.3. IAS 4: Depreciation Accounting 101
5.5.4. IAS 5: Information to be Disclosed in Financial Statements 102
5.5.5. The IASC s Policy Takes Shape 103
5.6. A Non-starter: Auditing Standards 104
5.7. Inflation Accounting: IAS 6 and IAS 15 105
5.7.1. IAS 6: Accounting Responses to Changing Prices 106
5.7.2. A Discussion Paper without Discussion 108
Contents vii
5.7.3. IAS 15: Accounting Responses to Changing Prices Revisited 109
5.8. Stocking the Shop: IAS 7 to IAS 13 110
5.8.1. IAS 7: Statement of Changes in Financial Position 111
5.8.2. IAS 8: Unusual Items and Accounting Changes 111
5.8.3. IAS 9: Research and Development 113
5.8.4. IAS 10: Contingencies and Events after the Balance Sheet
Date 114
5.8.5. IAS 11: Construction Contracts 114
5.8.6. IAS 12: Accounting for Income Tax 115
5.8.7. IAS 13: Presentation of Current Assets and Current
Liabilities 117
5.8.8. IAS 7-13: Concluding Remarks 118
5.9. Foreign Currency Translation: The Long Road to IAS 21 119
5.9.1. Ell: An Unsuccessful Attempt 119
5.9.2. A Breakthrough and a Crisis 121
5.10. A Courageous Discussion Paper on Banks 123
5.11. Showing Leadership: IAS 14, 17, and 19 125
5.11.1. IAS 14: Segment Reporting 126
5.11.2. IAS 17: Accounting for Leases 127
5.11.3. IAS 19: Retirement Benefits 129
5.12. Antecedents of a Conceptual Framework: IAS 16, 17, and 18 131
5.12.1. Fair Value 131
5.12.2. Other Issues in IAS 16 132
5.12.3. IAS 18: Revenue Recognition 133
5.13. The End of the Beginning: IAS 20, 22, and 23-6 134
5.13.1. IAS 20: Government Grants 135
5.13.2. IAS 22: Business Combinations 135
5.13.3. IAS 23: Capitalization of Borrowing Costs 138
5.13.4. IAS 24: Related Party Transactions 138
5.13.5. IAS 25: Investments 140
5.13.6. IAS 26: Retirement Benefit Plans 141
5.14. Conclusion 142
6. The IASC Labours to Gain Recognition 144
6.1. The Best Endeavours Undertaking 144
6.2. An Important Endorsement from the FIBV 146
6.3. European and World Surveys of Financial Reporting: A Boon for
the IASC 147
6.3.1. The Lafferty/FmaHcia/ Times Volumes 147
6.3.2. Two Further Surveys 148
6.4. Impact on Country Members of the IASC Board 149
6.5. United Kingdom Ireland 150
6.5.1. Action Taken by the CCAB 151
6.5.2. Action Taken by the London Stock Exchange 154
6.5.3. Responses to the IASC s Surveys 155
viii Contents
6.6. United States 155
6.6.1. AICPA s Responses to the IASC s Surveys 157
6.6.2. A Conflict between the FASB, FEI, and the SEC over the
IASC s E3 157
6.6.3. Criticism of the IASC by Two US Big Eight Accountancy
Firms 160
6.6.4. Approaches to the FASB Relating to IASC Standards 161
6.6.5. FASB s Ambivalence towards International Standards
under Kirk 162
6.7. Australia 164
6.8. Canada 165
6.9. France 166
6.10. Germany 169
6.11. Japan 171
6.12. Mexico 172
6.13. The Netherlands 172
6.14. Nigeria 174
6.15. South Africa 175
6.16. Italy 176
6.17. Taiwan 176
6.18. Discussion of Selected Associate Members Not Serving on the
IASC Board 177
6.18.1. Pakistan 177
6.18.2. India 178
6.18.3. Singapore 178
6.18.4. Hong Kong 179
6.18.5. Malaysia 179
6.18.6. New Zealand 179
6.19. Non-participation by Central and South American Countries 180
6.20. General Assessment of the Impact of the IASC s Standards
up to 1987 181
6.21. The IASC Seeks Support through Visits and Liaison 182
6.22. The IASC s Contacts at the European Level 184
6.23. The IASC s Contacts with the SEC 185
6.24. The IASC s Initial Contact with IOSCO and Its Portent 186
7. The IASC Copes with Its Political Environment 187
7.1. The Developing World and the United Nations 187
7.1.1. Sensitivity to the Aspirations of Developing
Countries 189
7.1.2. The Ad Hoc Working Group and ISAR 190
7.2. TheOECD 192
7.3. Integration with IFAC: 1973-82 195
7.3.1. The Founding of IFAC 195
7.3.2. Failure of a Proposed Integration Agreement 197
7.3.3. Towards the Mutual Commitments 200
Contents ix
7.4. Origins of the Consultative Group and Outside
Board Members 202
7.4.1. Early Stirrings 203
7.4.2. Formation of the Consultative Group 204
7.4.3. Financial Analysts, but Not Financial Executives,
Join the Board 205
7.5. The Last Attempt at a Merger with IFAC: The Bishop
Working Party 206
PART III. 1987-2000
8. The Changing Look of the IASC: People, Structure, and Funding 213
8.1. Chairmen and Vice-Chairmen 213
8.2. Changing Composition of Board Membership 218
8.2.1. Involvement of National Standard Setters 219
8.2.2. Financial Analysts 220
8.2.3. Financial Executives 220
8.2.4. Other Delegations 222
8.2.5. Staff Observers/Technical Advisers 225
8.3. Challenges Facing Some Delegations During the Activist 1990s 226
8.4. Voting Practices of the Board Delegations 228
8.5. Guests and Observers at Board Meetings 228
8.6. Venues, Frequency, and Length of Board Meetings 230
8.7. Opening Board Meetings to the Public 231
8.8. Observers on Steering Committees 232
8.9. Sir Bryan Carsberg Succeeds David Cairns as Secretary-General 233
8.10. The IASC Augments Its Research Staff 235
8.11. The IASC Expands Its Support Staff and Requires More
Office Space 236
8.12. Executive Committee Replaces the Organisation and Planning
Committee 237
8.13. The Board Establishes the Standing Interpretations Committee 238
8.14. Significant Growth in the IASC s Budget 239
8.15. The IASC s Foundation Working Party: Charting the Course
Towards a Vehicle for Fund-Raising 240
8.16. The Advisory Council 246
8.17. Fund-Raising 247
8.18. Amending the IASC Constitution in 1992 249
8.19. Relations with IFAC 250
8.20. Consultative Group 250
9. The IASC Fortifies Its Standards: The Framework, and the
Comparability and Improvements Projects 253
9.1. The Building Blocks and the Framework 254
9.1.1. Hesitant Steps towards a Framework 254
9.1.2. The Building Block Projects 256
x Contents
9.1.3. From Building Blocks to the Framework 259
9.1.4. The Framework and the Reduction of Options 262
9.1.5. The Balance-Sheet Approach 263
9.2. The IASC Reviews Its Previous International Accounting
Standards 264
9.2.1. Reluctance to Revise Existing Standards 264
9.2.2. Group Accounting: The Revision of IAS 3 Leads to IAS
27, 28, and 31 266
9.3. Comparability and Improvements 269
9.3.1. The Comparability Project: Towards E32 270
9.3.2. The IASC Seeks the Limelight with E32 274
9.3.3. From E32 to the Statement of Intent 275
9.3.4. Start of the Improvements Project 280
9.3.5. Scope of the Improvements Project 281
9.3.6. Closing the Package 282
9.3.7. The Ten Revised Standards 285
9.3.8. Muted Reactions to the Completion of the
Improvements Project 286
9.4. Other Projects 287
9.4.1. Cash Flow Statements: The Revision of IAS 7 287
9.4.2. Developing Country Issues 288
9.4.3. IAS 30: Bank Disclosures 291
10. Raising the Stakes: The IASC Responds to IOSCO and the SEC 293
10.1. The Emergence of IOSCO 293
10.2. The IASC Establishes Contact with IOSCO via the SEC 295
10.3. The Comparability Steering Committee: E32 298
10.4. The Resolutions Taken at IOSCO s 1988 Annual Conference 300
10.5. The Inception of the IASC s Improvements Steering Committee 305
10.6. Developments at IOSCO 306
10.7. The Role of IOSCO in the Improvements Steering Committee 309
10.8. The SEC s Cautious Response to Capital Market Pressures 311
10.8.1. Acceleration in the New York Stock Exchange Listings
of Overseas Companies 311
10.8.2. Rule 144A: SEC Waives Disclosure Requirements for
Private Placements of Securities by Foreign Companies 312
10.8.3. SEC s Unprecedented MJDS Arrangement with Canada 312
10.8.4. IOSCO and SEC Endorse IAS 7 313
10.8.5. Daimler-Benz Becomes the First German Company to
List in New York 314
10.8.6. The New York Stock Exchange Supports IASC Standards 316
10.8.7. SEC Allows Foreign Registrants to Adopt Parts of Three
IASC Standards 317
10.9. IOSCO Official Defines the Qualities Required in the IASC s
Revised Standards 318
Contents xi
10.10. IOSCO Identifies the Core Standards It Expects from the IASC 320
10.11. IOSCO s Rebuff to the IASC 321
10.12. The IASC and IOSCO Chart the Way Forward 325
10.13. The IASC Accelerates Its Target Date to March 1998 for
Completing Its Core Standards 328
10.14. The SEC Announces the Three Key Elements to be Reflected
in Acceptable IASC Standards 331
10.15. A Closer Working Relationship Between the IASC and IOSCO 334
10.16. The New York Stock Exchange Pressures the SEC to Accept the
IASC s Standards 335
10.17. The FASB Questions the IASC s Due Process 338
10.18. The IASC Board Completes the Core Standards 340
10.19. IOSCO Endorses the IASC s Core Standards 341
10.20. The SEC Issues a Major Concept Release in February 2000 343
10.21. The European Commission Proposes to Require EU Listed
Companies to Adopt IASC Standards 347
11. Putting Teeth in Harmonization: The IASC Completes Its Core
Standards 348
11.1. Introduction 348
11.2. Development of the Technical Agenda 348
11.3. The Standard-Setting Process 352
11.3.1. Due Process and Short Cuts 352
11.3.2. Steering Committees and Technical Staff 353
11.3.3. Involvement of National Standard Setters 354
11.3.4. Comment Letters 355
11.4. Income Tax: Revision of IAS 12 357
11.4.1. Eliminating the Deferral Option 357
11.4.2. E49: Closer to the United States, Away from the United
Kingdom 358
11.4.3. Final Difficulties 360
11.5. Financial Instruments 361
11.5.1. The Hopeful Start of a Long Journey 361
11.5.2. Identifying the Issues 363
11.5.3. Failure to Issue a Comprehensive Standard 367
11.5.4. Reorganization of the Project 370
11.5.5. The IASC Makes Time for a Fundamental Study 370
11.5.6. The Core Standards Target Date Necessitates an Interim
Solution 371
11.5.7. IAS 39 Completes the Set of Core Standards 374
11.5.8. The Joint Working Group and the Permanent Solution 376
11.6. Intangible Assets and Impairment 378
11.6.1. An Unsatisfactory First Exposure Draft 378
11.6.2. Impairment First: IAS 36 380
11.6.3. Goodwill and Other Intangibles 382
xii Contents
11.7. Other Core Standards on New Topics 383
11.7.1. IAS 33: Earnings per Share 384
11.7.2. IAS 34: Interim Reporting 385
11.7.3. IAS 35: Discontinuing Operations 386
11.7.4. IAS 37: Provisions 388
11.8. Revisions of Standards 389
11.8.1. IAS 1: Presentation of Financial Statements 390
11.8.2. IAS 14: Segment Reporting 393
11.8.3. IAS 19: Employee Benefits 395
11.8.4. IAS 17: Leases 397
11.9. Post-Core Technical Work 398
11.9.1. IAS 40: Investment Property 399
11.9.2. IAS 41: Agriculture 401
11.9.3. Unfinished Projects 404
11.10. Conclusion 407
12. The World Wakes Up to the IASC 408
12.1. Introduction 408
12.2. A Mixed Record of Acceptance in Europe 408
12.2.1. France 409
12.2.2. Germany 411
12.2.3. The Netherlands 414
12.2.4. Nordic Countries 415
12.2.5. Switzerland 416
12.2.6. United Kingdom 417
12.3. The European Commission s Gradual Conversion to IASC
Standards 418
12.3.1. Warming of Relations between the IASC and the
European Commission 418
12.3.2. The European Commission Seeks to Reinforce the
European Voice in the IASC 422
12.3.3. The Commission Places the IASC at the Centre of its
Harmonization Effort 423
12.3.4. FEE Promotes a European Accounting Research
Foundation 427
12.3.5. The Pace of European Companies Listing in New York
Drives the European Commission s Evolving
Accounting Policy 428
12.3.6. FEE Proposes a Financial Reporting Strategy within
Europe 429
12.3.7. The European Commission Calls for a Required Use of
IASC Standards by EU Listed Companies 430
12.4. Impacts Outside of Europe 432
12.4.1. Australia 433
12.4.2. Canada 435
Contents xiii
12.4.3. Japan 436
12.4.4. South Africa 437
12.4.5. United States 438
12.5. Support for the IASC from International Financial Institutions 441
12.5.1. Impact of the World Bank on the Diffusion of IASC
Standards among Developing Countries 441
12.5.2. The International Financial Stability Forum 442
12.6. TheG4+l 443
12.6.1. Early Evolution of the G4+1 443
12.6.2. The Continuing Development of the G4+1 444
12.6.3. European Interests Establish E5+2 to Counter the G4+1 445
13. Towards a World Standard Setter: The Restructuring of the IASC 447
13.1. Formation of the Strategy Working Party and Its Membership 447
13.2. Meetings During 1997 and Successive Drafts of the Discussion
Paper 450
13.2.1. July 1997 Meeting 450
13.2.2. September 1997 Meeting 454
13.2.3. Reactions to the 17 November Draft from Outside the
Working Party 457
13.3. The Working Party s Deliberations During 1998 459
13.3.1. January 1998 Meeting 460
13.3.2. April 1998 Meeting 462
13.3.3. July 1998 Meeting 463
13.4. The Discussion Paper Published in December 1998 463
13.5. Comment Letters on the December 1998 Discussion Paper 466
13.6. The Advisory Council, Executive Committee, and Board Take
Up the Working Party s Proposals in March 1999 470
13.7. Enevoldsen and Carsberg Table Their Own Proposal in Warsaw
in June/July 1999 472
13.7.1. The Proposals 472
13.7.2. The Executive Committee Considers the Proposal 473
13.7.3. The Board Meets with the Working Party in June 1999 474
13.7.4. The Working Party Meets in July to Consider the Single
Board Proposal 475
13.8. Developments Following Warsaw 478
13.8.1. Consultations 478
13.8.2. Turner s Letter 480
13.8.3. Mogg s Letter 481
13.8.4. Prada s Letter 482
13.9. Working Party Meets in September 1999 483
13.10. Run-up to the Board s November 1999 Meeting in Venice 485
13.10.1. The Working Party Confers to Make Further
Revisions 485
13.10.2. Enevoldsen and Carsberg Pre-Empt the Working Party 486
xiv Contents
13.11. The Executive Committee s and Board s November 1999
Meetings in Venice 488
13.11.1. The Enevoldsen and Carsberg Note: Circumventing
the Working Party 488
13.11.2. Fateful Decision at the Executive Committee Meeting 489
13.11.3. The Deal 490
13.11.4. The Board Meeting 491
13.12. Transition from the Old to the New IASC 493
13.12.1. Development and Issue of the Working Party s
Final Report 493
13.12.2. The Selection of Members of the Nominating
Committee 493
13.12.3. The Board s December Meeting in Amsterdam 494
13.12.4. IASC Nominating Committee Selects the Trustees for
the New Regime 495
13.12.5. Funding Requirements 496
13.12.6. IASC Board Approves the Constitution 496
13.12.7. IASC Member Bodies Approve the IASC s
Restructuring 496
13.12.8. The Trustees Choose the New Members of the
Restructured Board 497
13.12.9. The IASC Reaches the End of Its Life 498
Appendix 1: Text of the 1973 Agreement and Constitution 500
Appendix 2: Chairmen and Senior Staff 504
Appendix 3: Members of the Delegations to the IASC, 1973-2000 506
Appendix 4: Technical Projects, Exposure Drafts, and Standards 513
Appendix 5: Venues and Dates of Board Meetings 524
Appendix 6: Interviewees 527
Appendix 7: Use of, and References to, Unpublished Sources 529
Notes 530
Index 656
List of Figures
2.1. Sir Henry (later Lord) Benson 27
4.1. IASC chairmen and secretaries, IASC tenth anniversary dinner, 15 June 1983 62
4.2. IASC chairmen and secretary, Toronto, June 1984 62
4.3. IASC delegates and staff, London, January 1975 64
4.4. IASC delegates, International Congress of Accountants, Munich, October 1977 68
4.5. IASC delegates and staff, Edinburgh, July 1987 72
4.6. David Cairns 76
4.7. Meeting of IASC board in the Council Chamber of the ICAEW, London,
March 1978 81
5.1. Sir Henry Benson presents IAS 1 to the press, London, January 1975 95
7.1. IASC chairmen and IFAC presidents at the Arthur Young Professors
Roundtable, London, May 1980 198
8.1. IASC Chairmen Eiichi Shiratori and Arthur Wyatt at the World Congress
of Accountants, Washington DC, October 1992 214
8.2. IASC chairmen, IASC twentieth anniversary conference, 29 June 1993 215
8.3. Michael Sharpe 216
8.4. Stig Enevoldsen 217
8.5. Tom Jones 218
8.6. IASC delegates and staff, Singapore, November 1990 219
8.7. IASC delegates, observers, and staff, Amsterdam, May 1995 221
8.8. IASC delegates, observers, and staff, London, December 2000 224
8.9. Meeting of IASC board in Sao Paulo, March 2000 231
8.10. Sir Bryan Carsberg 234
Note: All illustrations reproduced with permission of the International Accounting Stan¬
dards Foundation, London.
List of Tables
2.1. Publications of the Accountants International Study Group 32
3.1. Membership of the IASC in 1973 49
4.1. IASC revenue and expenditure, 1974-87 83
8.1. IASC revenue and expenses, 1988-2000 241
9.1. Revisions of International Accounting Standards during Comparability
and Improvements 273
11.1. The core standards work programme 351
|
| adam_txt |
Kees Camfferman is Professor of Financial Accounting
at the Vrije Universiteit Amsterdam,
(the Netherlands). His
international academie
development of financial reporting practices and of the
institutional framework of financial reporting from the
1
Stephen A. Zeff
Accounting Association and a former editor of The Accounting
Review. He has been inducted into the Accounting Hall of
Fame, and the AAA has given him its Outstanding Accounting
Educator award. He has lectured in more than fifty countries
and has served as the International research adviser to the
Institute of Chartered Accountants of Scotland. His primary
research interest Is the comparative history of accounting
standard setting and regulation.
Standardization and harmonization of accounting practices is a fundamental element of a global
business environment. Achieving this is a complex process that involves technical and political
negotiation. The International Accounting Standards Committee {IASC) was the organization that
pioneered this process on a world-wide basis.
The IASC prepared the way for the International Accounting Standards Board (IASB) and its
International Financial Reporting Standards, which since
overthe financial reporting of thousands of listed companies in the European Union, as well as in
many other countries.
The forces and influences that shaped the formation of the IASB were intimately connected with
the historical organization and operation of its predecessor, the IASC, and so to understand the
standards enforced in financial reporting today, a historical understanding of the IASC is required.
Financial Reporting and Global Capital Markets does just this. It examines the history of the IASC
from
achievements and setbacks, the development of its standards, and Its restructuring leading up
to the creation of the lASB in
The book also studies the impact of the lASC's standards on national standard setting and on
accounting practice in developed and developing countries, as well as the impact on the IASC of
the policies and positions of the UN, the
International Organization of Securities Commissions, and the European Commission. It will be
of vital interest to all concerned with accounting developments in a global environment, be they
academics, policy-makers, or professionals.
Contents
List of Figures xv
List of Tables xvi
Foreword xvii
Preface xix
List of Abbreviations xxi
1. Introduction and Overview 1
1.1. Approach 2
1.2. Overview 4
1.2.1. The Antecedents and Founding of the IASC 5
1.2.2. The IASC to 1987 6
1.2.3. The IASC from 1987 to 2000 9
PART I. ORIGINS
2. Origins of International Accounting Harmonization 21
2.1. International Economic Integration and Accounting Harmonization 21
2.2. The Creation of Regional Accountancy Bodies 23
2.3. Calls for Uniformity of Accounting Standards 23
2.4. International Accounting in the United States 25
2.5. Accountants International Study Group 26
2.5.1. National Programmes for Establishing Accounting Principles 27
2.5.2. Formation of the Study Group 29
2.5.3. Benson's Motivations 30
2.5.4. The Initial Work of the Study Group: The Inventories Booklet 31
2.5.5. The Remaining Work of the Study Group 32
2.6. An International Accounting Secretariat 37
2.7. Accounting Harmonization in the EEC and the Role of the UEC 38
2.8. The Stage for the IASC 41
3. The Founding of the IASC 43
3.1. The Initiative to Form an International Accounting Standards
Committee 43
3.2. Benson's Role and Motivation 44
3.3. General Reactions to the IASC Proposal 46
3.4. Main Features of the 1973 Agreement and Constitution 48
3.4.1. Participating Countries and Accountancy Bodies 48
3.4.2. Relations with ICCAP 49
3.4.3. Objective and Scope of Activities 51
3.4.4. Compliance, 'Best Endeavours' and Voting 52
vi Contents
3.4.5. Financing 53
3.4.6. Location 53
3.5. Reactions to the Founding of the IASC 54
3.5.1. Reactions within the UEC 55
3.5.2. Impact on the Accountants International Study Group 57
PART II. 1973-87
4. The People and the Structure of the IASC 61
4.1. The Chairmen 61
4.2. Composition ofthe Original Delegations to the IASC 64
4.3. Evolution ofthe Delegations to 1987 67
4.4. Delegations Subsequently Added 71
4.5. Incorporation of Associate Members 73
4.6. The Technical Staff 74
4.7. The Official Language(s) 77
4.8. Link with the ICAEW 78
4.9. The Early Plan for the Approval and Production of Standards 79
4.10. Composition of the Project Steering Committees 79
4.11. Communications 80
4.12. Meetings ofthe Committee (from 1977 Onwards, the Board) 80
4.13. Finances 82
4.14. Changes in 1977 in the Agreement and Constitution 84
4.15. The Organisation and Planning Committee (OPC) 85
4.16. The Consultative Group 86
4.17. Changes in 1982 in the Agreement and Constitution 87
4.18. IASC/IFAC Co-ordinating Committee 89
4.19. The IASC's Major Reassessment of Its Future Plans in 1987 89
5. 'Compromise to Harmonise': Setting the IASC's Early Standards 90
5.1. Overview 90
5.2. Working Arrangements and Composition of Steering Committees 90
5.3. Review ofthe Technical Projects 1973-87 93
5.4. The First Standard: IAS 1 93
5.5. Tempered Ambitions: IAS 2 to IAS 5 96
5.5.1. IAS 2: Inventories 97
5.5.2. IAS 3: Consolidated Financial Statements and the Equity
Method 99
5.5.3. IAS 4: Depreciation Accounting 101
5.5.4. IAS 5: Information to be Disclosed in Financial Statements 102
5.5.5. The IASC's Policy Takes Shape 103
5.6. A Non-starter: Auditing Standards 104
5.7. Inflation Accounting: IAS 6 and IAS 15 105
5.7.1. IAS 6: Accounting Responses to Changing Prices 106
5.7.2. A Discussion Paper without Discussion 108
Contents vii
5.7.3. IAS 15: Accounting Responses to Changing Prices Revisited 109
5.8. Stocking the Shop: IAS 7 to IAS 13 110
5.8.1. IAS 7: Statement of Changes in Financial Position 111
5.8.2. IAS 8: Unusual Items and Accounting Changes 111
5.8.3. IAS 9: Research and Development 113
5.8.4. IAS 10: Contingencies and Events after the Balance Sheet
Date 114
5.8.5. IAS 11: Construction Contracts 114
5.8.6. IAS 12: Accounting for Income Tax 115
5.8.7. IAS 13: Presentation of Current Assets and Current
Liabilities 117
5.8.8. IAS 7-13: Concluding Remarks 118
5.9. Foreign Currency Translation: The Long Road to IAS 21 119
5.9.1. Ell: An Unsuccessful Attempt 119
5.9.2. A Breakthrough and a Crisis 121
5.10. A Courageous Discussion Paper on Banks 123
5.11. Showing Leadership: IAS 14, 17, and 19 125
5.11.1. IAS 14: Segment Reporting 126
5.11.2. IAS 17: Accounting for Leases 127
5.11.3. IAS 19: Retirement Benefits 129
5.12. Antecedents of a Conceptual Framework: IAS 16, 17, and 18 131
5.12.1. Fair Value 131
5.12.2. Other Issues in IAS 16 132
5.12.3. IAS 18: Revenue Recognition 133
5.13. The End of the Beginning: IAS 20, 22, and 23-6 134
5.13.1. IAS 20: Government Grants 135
5.13.2. IAS 22: Business Combinations 135
5.13.3. IAS 23: Capitalization of Borrowing Costs 138
5.13.4. IAS 24: Related Party Transactions 138
5.13.5. IAS 25: Investments 140
5.13.6. IAS 26: Retirement Benefit Plans 141
5.14. Conclusion 142
6. The IASC Labours to Gain Recognition 144
6.1. The Best Endeavours Undertaking 144
6.2. An Important Endorsement from the FIBV 146
6.3. European and World Surveys of Financial Reporting: A Boon for
the IASC 147
6.3.1. The Lafferty/FmaHcia/ Times Volumes 147
6.3.2. Two Further Surveys 148
6.4. Impact on Country Members of the IASC Board 149
6.5. United Kingdom Ireland 150
6.5.1. Action Taken by the CCAB 151
6.5.2. Action Taken by the London Stock Exchange 154
6.5.3. Responses to the IASC's Surveys 155
viii Contents
6.6. United States 155
6.6.1. AICPA's Responses to the IASC's Surveys 157
6.6.2. A Conflict between the FASB, FEI, and the SEC over the
IASC's E3 157
6.6.3. Criticism of the IASC by Two US Big Eight Accountancy
Firms 160
6.6.4. Approaches to the FASB Relating to IASC Standards 161
6.6.5. FASB's Ambivalence towards International Standards
under Kirk 162
6.7. Australia 164
6.8. Canada 165
6.9. France 166
6.10. Germany 169
6.11. Japan 171
6.12. Mexico 172
6.13. The Netherlands 172
6.14. Nigeria 174
6.15. South Africa 175
6.16. Italy 176
6.17. Taiwan 176
6.18. Discussion of Selected Associate Members Not Serving on the
IASC Board 177
6.18.1. Pakistan 177
6.18.2. India 178
6.18.3. Singapore 178
6.18.4. Hong Kong 179
6.18.5. Malaysia 179
6.18.6. New Zealand 179
6.19. Non-participation by Central and South American Countries 180
6.20. General Assessment of the Impact of the IASC's Standards
up to 1987 181
6.21. The IASC Seeks Support through Visits and Liaison 182
6.22. The IASC's Contacts at the European Level 184
6.23. The IASC's Contacts with the SEC 185
6.24. The IASC's Initial Contact with IOSCO and Its Portent 186
7. The IASC Copes with Its Political Environment 187
7.1. The Developing World and the United Nations 187
7.1.1. Sensitivity to the Aspirations of Developing
Countries 189
7.1.2. The Ad Hoc Working Group and ISAR 190
7.2. TheOECD 192
7.3. Integration with IFAC: 1973-82 195
7.3.1. The Founding of IFAC 195
7.3.2. Failure of a Proposed Integration Agreement 197
7.3.3. Towards the Mutual Commitments 200
Contents ix
7.4. Origins of the Consultative Group and Outside
Board Members 202
7.4.1. Early Stirrings 203
7.4.2. Formation of the Consultative Group 204
7.4.3. Financial Analysts, but Not Financial Executives,
Join the Board 205
7.5. The Last Attempt at a Merger with IFAC: The Bishop
Working Party 206
PART III. 1987-2000
8. The Changing Look of the IASC: People, Structure, and Funding 213
8.1. Chairmen and Vice-Chairmen 213
8.2. Changing Composition of Board Membership 218
8.2.1. Involvement of National Standard Setters 219
8.2.2. Financial Analysts 220
8.2.3. Financial Executives 220
8.2.4. Other Delegations 222
8.2.5. Staff Observers/Technical Advisers 225
8.3. Challenges Facing Some Delegations During the Activist 1990s 226
8.4. Voting Practices of the Board Delegations 228
8.5. Guests and Observers at Board Meetings 228
8.6. Venues, Frequency, and Length of Board Meetings 230
8.7. Opening Board Meetings to the Public 231
8.8. Observers on Steering Committees 232
8.9. Sir Bryan Carsberg Succeeds David Cairns as Secretary-General 233
8.10. The IASC Augments Its Research Staff 235
8.11. The IASC Expands Its Support Staff and Requires More
Office Space 236
8.12. Executive Committee Replaces the Organisation and Planning
Committee 237
8.13. The Board Establishes the Standing Interpretations Committee 238
8.14. Significant Growth in the IASC's Budget 239
8.15. The IASC's Foundation Working Party: Charting the Course
Towards a Vehicle for Fund-Raising 240
8.16. The Advisory Council 246
8.17. Fund-Raising 247
8.18. Amending the IASC Constitution in 1992 249
8.19. Relations with IFAC 250
8.20. Consultative Group 250
9. The IASC Fortifies Its Standards: The Framework, and the
Comparability and Improvements Projects 253
9.1. The Building Blocks and the Framework 254
9.1.1. Hesitant Steps towards a Framework 254
9.1.2. The Building Block Projects 256
x Contents
9.1.3. From Building Blocks to the Framework 259
9.1.4. The Framework and the Reduction of Options 262
9.1.5. The Balance-Sheet Approach 263
9.2. The IASC Reviews Its Previous International Accounting
Standards 264
9.2.1. Reluctance to Revise Existing Standards 264
9.2.2. Group Accounting: The Revision of IAS 3 Leads to IAS
27, 28, and 31 266
9.3. Comparability and Improvements 269
9.3.1. The Comparability Project: Towards E32 270
9.3.2. The IASC Seeks the Limelight with E32 274
9.3.3. From E32 to the Statement of Intent 275
9.3.4. Start of the Improvements Project 280
9.3.5. Scope of the Improvements Project 281
9.3.6. Closing the'Package' 282
9.3.7. The Ten Revised Standards 285
9.3.8. Muted Reactions to the Completion of the
Improvements Project 286
9.4. Other Projects 287
9.4.1. Cash Flow Statements: The Revision of IAS 7 287
9.4.2. Developing Country Issues 288
9.4.3. IAS 30: Bank Disclosures 291
10. Raising the Stakes: The IASC Responds to IOSCO and the SEC 293
10.1. The Emergence of IOSCO 293
10.2. The IASC Establishes Contact with IOSCO via the SEC 295
10.3. The Comparability Steering Committee: E32 298
10.4. The Resolutions Taken at IOSCO's 1988 Annual Conference 300
10.5. The Inception of the IASC's Improvements Steering Committee 305
10.6. Developments at IOSCO 306
10.7. The Role of IOSCO in the Improvements Steering Committee 309
10.8. The SEC's Cautious Response to Capital Market Pressures 311
10.8.1. Acceleration in the New York Stock Exchange Listings
of Overseas Companies 311
10.8.2. Rule 144A: SEC Waives Disclosure Requirements for
Private Placements of Securities by Foreign Companies 312
10.8.3. SEC's Unprecedented MJDS Arrangement with Canada 312
10.8.4. IOSCO and SEC Endorse IAS 7 313
10.8.5. Daimler-Benz Becomes the First German Company to
List in New York 314
10.8.6. The New York Stock Exchange Supports IASC Standards 316
10.8.7. SEC Allows Foreign Registrants to Adopt Parts of Three
IASC Standards 317
10.9. IOSCO Official Defines the Qualities Required in the IASC's
Revised Standards 318
Contents xi
10.10. IOSCO Identifies the Core Standards It Expects from the IASC 320
10.11. IOSCO's Rebuff to the IASC 321
10.12. The IASC and IOSCO Chart the Way Forward 325
10.13. The IASC Accelerates Its Target Date to March 1998 for
Completing Its Core Standards 328
10.14. The SEC Announces the 'Three Key Elements' to be Reflected
in Acceptable IASC Standards 331
10.15. A Closer Working Relationship Between the IASC and IOSCO 334
10.16. The New York Stock Exchange Pressures the SEC to Accept the
IASC's Standards 335
10.17. The FASB Questions the IASC's Due Process 338
10.18. The IASC Board Completes the Core Standards 340
10.19. IOSCO Endorses the IASC's Core Standards 341
10.20. The SEC Issues a Major 'Concept Release' in February 2000 343
10.21. The European Commission Proposes to Require EU Listed
Companies to Adopt IASC Standards 347
11. Putting Teeth in Harmonization: The IASC Completes Its Core
Standards 348
11.1. Introduction 348
11.2. Development of the Technical Agenda 348
11.3. The Standard-Setting Process 352
11.3.1. Due Process and Short Cuts 352
11.3.2. Steering Committees and Technical Staff 353
11.3.3. Involvement of National Standard Setters 354
11.3.4. Comment Letters 355
11.4. Income Tax: Revision of IAS 12 357
11.4.1. Eliminating the Deferral Option 357
11.4.2. E49: Closer to the United States, Away from the United
Kingdom 358
11.4.3. Final Difficulties 360
11.5. Financial Instruments 361
11.5.1. The Hopeful Start of a Long Journey 361
11.5.2. Identifying the Issues 363
11.5.3. Failure to Issue a Comprehensive Standard 367
11.5.4. Reorganization of the Project 370
11.5.5. The IASC Makes Time for a Fundamental Study 370
11.5.6. The Core Standards Target Date Necessitates an Interim
Solution 371
11.5.7. IAS 39 Completes the Set of Core Standards 374
11.5.8. The Joint Working Group and the 'Permanent Solution' 376
11.6. Intangible Assets and Impairment 378
11.6.1. An Unsatisfactory First Exposure Draft 378
11.6.2. Impairment First: IAS 36 380
11.6.3. Goodwill and Other Intangibles 382
xii Contents
11.7. Other Core Standards on New Topics 383
11.7.1. IAS 33: Earnings per Share 384
11.7.2. IAS 34: Interim Reporting 385
11.7.3. IAS 35: Discontinuing Operations 386
11.7.4. IAS 37: Provisions 388
11.8. Revisions of Standards 389
11.8.1. IAS 1: Presentation of Financial Statements 390
11.8.2. IAS 14: Segment Reporting 393
11.8.3. IAS 19: Employee Benefits 395
11.8.4. IAS 17: Leases 397
11.9. Post-Core Technical Work 398
11.9.1. IAS 40: Investment Property 399
11.9.2. IAS 41: Agriculture 401
11.9.3. Unfinished Projects 404
11.10. Conclusion 407
12. The World Wakes Up to the IASC 408
12.1. Introduction 408
12.2. A Mixed Record of Acceptance in Europe 408
12.2.1. France 409
12.2.2. Germany 411
12.2.3. The Netherlands 414
12.2.4. Nordic Countries 415
12.2.5. Switzerland 416
12.2.6. United Kingdom 417
12.3. The European Commission's Gradual Conversion to IASC
Standards 418
12.3.1. Warming of Relations between the IASC and the
European Commission 418
12.3.2. The European Commission Seeks to Reinforce the
European Voice in the IASC 422
12.3.3. The Commission Places the IASC at the Centre of its
Harmonization Effort 423
12.3.4. FEE Promotes a 'European Accounting Research
Foundation' 427
12.3.5. The Pace of European Companies Listing in New York
Drives the European Commission's Evolving
Accounting Policy 428
12.3.6. FEE Proposes a 'Financial Reporting Strategy within
Europe' 429
12.3.7. The European Commission Calls for a Required Use of
IASC Standards by EU Listed Companies 430
12.4. Impacts Outside of Europe 432
12.4.1. Australia 433
12.4.2. Canada 435
Contents xiii
12.4.3. Japan 436
12.4.4. South Africa 437
12.4.5. United States 438
12.5. Support for the IASC from International Financial Institutions 441
12.5.1. Impact of the World Bank on the Diffusion of IASC
Standards among Developing Countries 441
12.5.2. The International Financial Stability Forum 442
12.6. TheG4+l 443
12.6.1. Early Evolution of the G4+1 443
12.6.2. The Continuing Development of the G4+1 444
12.6.3. European Interests Establish E5+2 to Counter the G4+1 445
13. Towards a World Standard Setter: The Restructuring of the IASC 447
13.1. Formation of the Strategy Working Party and Its Membership 447
13.2. Meetings During 1997 and Successive Drafts of the Discussion
Paper 450
13.2.1. July 1997 Meeting 450
13.2.2. September 1997 Meeting 454
13.2.3. Reactions to the 17 November Draft from Outside the
Working Party 457
13.3. The Working Party's Deliberations During 1998 459
13.3.1. January 1998 Meeting 460
13.3.2. April 1998 Meeting 462
13.3.3. July 1998 Meeting 463
13.4. The Discussion Paper Published in December 1998 463
13.5. Comment Letters on the December 1998 Discussion Paper 466
13.6. The Advisory Council, Executive Committee, and Board Take
Up the Working Party's Proposals in March 1999 470
13.7. Enevoldsen and Carsberg Table Their Own Proposal in Warsaw
in June/July 1999 472
13.7.1. The Proposals 472
13.7.2. The Executive Committee Considers the Proposal 473
13.7.3. The Board Meets with the Working Party in June 1999 474
13.7.4. The Working Party Meets in July to Consider the 'Single
Board' Proposal 475
13.8. Developments Following Warsaw 478
13.8.1. Consultations 478
13.8.2. Turner's Letter 480
13.8.3. Mogg's Letter 481
13.8.4. Prada's Letter 482
13.9. Working Party Meets in September 1999 483
13.10. Run-up to the Board's November 1999 Meeting in Venice 485
13.10.1. The Working Party Confers to Make Further
Revisions 485
13.10.2. Enevoldsen and Carsberg Pre-Empt the Working Party 486
xiv Contents
13.11. The Executive Committee's and Board's November 1999
Meetings in Venice 488
13.11.1. The Enevoldsen and Carsberg Note: Circumventing
the Working Party 488
13.11.2. Fateful Decision at the Executive Committee Meeting 489
13.11.3. 'The Deal' 490
13.11.4. The Board Meeting 491
13.12. Transition from the Old to the New IASC 493
13.12.1. Development and Issue of the Working Party's
Final Report 493
13.12.2. The Selection of Members of the Nominating
Committee 493
13.12.3. The Board's December Meeting in Amsterdam 494
13.12.4. IASC Nominating Committee Selects the Trustees for
the New Regime 495
13.12.5. Funding Requirements 496
13.12.6. IASC Board Approves the Constitution 496
13.12.7. IASC Member Bodies Approve the IASC's
Restructuring 496
13.12.8. The Trustees Choose the New Members of the
Restructured Board 497
13.12.9. The IASC Reaches the End of Its Life 498
Appendix 1: Text of the 1973 Agreement and Constitution 500
Appendix 2: Chairmen and Senior Staff 504
Appendix 3: Members of the Delegations to the IASC, 1973-2000 506
Appendix 4: Technical Projects, Exposure Drafts, and Standards 513
Appendix 5: Venues and Dates of Board Meetings 524
Appendix 6: Interviewees 527
Appendix 7: Use of, and References to, Unpublished Sources 529
Notes 530
Index 656
List of Figures
2.1. Sir Henry (later Lord) Benson 27
4.1. IASC chairmen and secretaries, IASC tenth anniversary dinner, 15 June 1983 62
4.2. IASC chairmen and secretary, Toronto, June 1984 62
4.3. IASC delegates and staff, London, January 1975 64
4.4. IASC delegates, International Congress of Accountants, Munich, October 1977 68
4.5. IASC delegates and staff, Edinburgh, July 1987 72
4.6. David Cairns 76
4.7. Meeting of IASC board in the Council Chamber of the ICAEW, London,
March 1978 81
5.1. Sir Henry Benson presents IAS 1 to the press, London, January 1975 95
7.1. IASC chairmen and IFAC presidents at the Arthur Young Professors'
Roundtable, London, May 1980 198
8.1. IASC Chairmen Eiichi Shiratori and Arthur Wyatt at the World Congress
of Accountants, Washington DC, October 1992 214
8.2. IASC chairmen, IASC twentieth anniversary conference, 29 June 1993 215
8.3. Michael Sharpe 216
8.4. Stig Enevoldsen 217
8.5. Tom Jones 218
8.6. IASC delegates and staff, Singapore, November 1990 219
8.7. IASC delegates, observers, and staff, Amsterdam, May 1995 221
8.8. IASC delegates, observers, and staff, London, December 2000 224
8.9. Meeting of IASC board in Sao Paulo, March 2000 231
8.10. Sir Bryan Carsberg 234
Note: All illustrations reproduced with permission of the International Accounting Stan¬
dards Foundation, London.
List of Tables
2.1. Publications of the Accountants International Study Group 32
3.1. Membership of the IASC in 1973 49
4.1. IASC revenue and expenditure, 1974-87 83
8.1. IASC revenue and expenses, 1988-2000 241
9.1. Revisions of International Accounting Standards during Comparability
and Improvements 273
11.1. The 'core' standards work programme 351 |
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| discipline | Wirtschaftswissenschaften |
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| edition | 1. publ. |
| era | Geschichte 1973-2000 gnd |
| era_facet | Geschichte 1973-2000 |
| format | Book |
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| id | DE-604.BV022383819 |
| illustrated | Illustrated |
| index_date | 2024-07-02T17:12:21Z |
| indexdate | 2024-07-09T20:56:27Z |
| institution | BVB |
| isbn | 0199296294 9780199296293 |
| language | English |
| lccn | 2006030626 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-015592766 |
| oclc_num | 72987852 |
| open_access_boolean | |
| owner | DE-355 DE-BY-UBR DE-945 DE-M382 DE-19 DE-BY-UBM DE-91 DE-BY-TUM DE-11 DE-521 |
| owner_facet | DE-355 DE-BY-UBR DE-945 DE-M382 DE-19 DE-BY-UBM DE-91 DE-BY-TUM DE-11 DE-521 |
| physical | XXIII, 676 S. Ill. |
| publishDate | 2007 |
| publishDateSearch | 2007 |
| publishDateSort | 2007 |
| publisher | Oxford Univ. Press |
| record_format | marc |
| spelling | Camfferman, Kees 1966- Verfasser (DE-588)171766555 aut Financial reporting and global capital markets a history of the International Accounting Standards Committee, 1973-2000 Kees Camfferman and Stephen A. Zeff 1. publ. Oxford [u.a.] Oxford Univ. Press 2007 XXIII, 676 S. Ill. txt rdacontent n rdamedia nc rdacarrier Hier auch später erschienene, unveränderte Nachdrucke International Accounting Standards Board International Accounting Standards Committee International Accounting Standards Board (DE-588)3050910-5 gnd rswk-swf Geschichte 1973-2000 gnd rswk-swf Financiële verslaglegging gtt Standaardisatie gtt Accounting Standards Financial statements Standards International Accounting Standards (DE-588)4367663-7 gnd rswk-swf International Accounting Standards Board (DE-588)3050910-5 b International Accounting Standards (DE-588)4367663-7 s Geschichte 1973-2000 z b DE-604 Zeff, Stephen A. 1933- Sonstige (DE-588)133401618 oth http://www.loc.gov/catdir/toc/ecip072/2006030626.html Table of contents only Digitalisierung UB Regensburg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015592766&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Klappentext HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015592766&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Camfferman, Kees 1966- Financial reporting and global capital markets a history of the International Accounting Standards Committee, 1973-2000 International Accounting Standards Board International Accounting Standards Committee International Accounting Standards Board (DE-588)3050910-5 gnd Financiële verslaglegging gtt Standaardisatie gtt Accounting Standards Financial statements Standards International Accounting Standards (DE-588)4367663-7 gnd |
| subject_GND | (DE-588)3050910-5 (DE-588)4367663-7 |
| title | Financial reporting and global capital markets a history of the International Accounting Standards Committee, 1973-2000 |
| title_auth | Financial reporting and global capital markets a history of the International Accounting Standards Committee, 1973-2000 |
| title_exact_search | Financial reporting and global capital markets a history of the International Accounting Standards Committee, 1973-2000 |
| title_exact_search_txtP | Financial reporting and global capital markets a history of the International Accounting Standards Committee, 1973-2000 |
| title_full | Financial reporting and global capital markets a history of the International Accounting Standards Committee, 1973-2000 Kees Camfferman and Stephen A. Zeff |
| title_fullStr | Financial reporting and global capital markets a history of the International Accounting Standards Committee, 1973-2000 Kees Camfferman and Stephen A. Zeff |
| title_full_unstemmed | Financial reporting and global capital markets a history of the International Accounting Standards Committee, 1973-2000 Kees Camfferman and Stephen A. Zeff |
| title_short | Financial reporting and global capital markets |
| title_sort | financial reporting and global capital markets a history of the international accounting standards committee 1973 2000 |
| title_sub | a history of the International Accounting Standards Committee, 1973-2000 |
| topic | International Accounting Standards Board International Accounting Standards Committee International Accounting Standards Board (DE-588)3050910-5 gnd Financiële verslaglegging gtt Standaardisatie gtt Accounting Standards Financial statements Standards International Accounting Standards (DE-588)4367663-7 gnd |
| topic_facet | International Accounting Standards Board International Accounting Standards Committee Financiële verslaglegging Standaardisatie Accounting Standards Financial statements Standards International Accounting Standards |
| url | http://www.loc.gov/catdir/toc/ecip072/2006030626.html http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015592766&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015592766&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA |
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