Comments on Exposure Draft ED/2013/6 I generally welcome the reconsiderations of the IASB and FASB Boards in response to the feedback on the first exposure draft, ED/2010/09. However a number of issues, inconsistencies and unnecessary complexities remain. I summarise my main concerns below. Letter to IASB re Leases ReExposure Draft
Category: IASB
May 20
Get Set for Leasing Systems Shake-up.
Update May 2013: Since the publication of this article in December 2010, there have been significant delays to the re-drafting of the Lease Accounting Standards ED1. The Re-Exposure Draft was finally published in May 2013 and, as expected, that it still contains significant changes for both Lessees and Lessors, including many of the issues discussed in this article. Will IT …
May 01
Go Forth and “Multi-”ply
Going multinational opens up multiple extra dimensions in system complexity. The biggest strategic efficiency for multinational systems is gained by having front-end, administration and accounting systems that can travel in these extra dimensions Multi-Format – Culture-specific number formats (thousand and decimal separators) currency symbols (prefixes or suffixes) and date formats are essential to present users …