IASC fails to agree on valuations
IASC fails to agree on valuations
- 1999
- Accountancy Age 25 March 1999, 4(1) .
Disagreements over whether to allow current market valuations on balance sheets prevented the International Accounting Standards Committee (IASC) from agreeing draft standards on investment property and agriculture. The draft would have moved the IASC closer to UK practice which allows property assets to be marked to their market values, with gains and losses put through the income statement. It will be re-assessed in June.
AGRICULTURE
INTERNATIONAL ACCOUNTING STANDARDS
INVESTMENT PROPERTY
PROPERTY ASSETS
VALUATIONS
Disagreements over whether to allow current market valuations on balance sheets prevented the International Accounting Standards Committee (IASC) from agreeing draft standards on investment property and agriculture. The draft would have moved the IASC closer to UK practice which allows property assets to be marked to their market values, with gains and losses put through the income statement. It will be re-assessed in June.
AGRICULTURE
INTERNATIONAL ACCOUNTING STANDARDS
INVESTMENT PROPERTY
PROPERTY ASSETS
VALUATIONS