Accounting Standards Board

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Accounting Standards Board

the UK body which prior to 1990 was responsible for the formulation of Statements of Standard Accounting Practice (SSAPs).

It was replaced in 1990 by The Accounting Standards Board Limited. See ACCOUNTING STANDARDS.

References in periodicals archive ?
To help members understand and apply an important new pronouncement, Financial Accounting Standards Board Interpretation No.
The International Accounting Standards Board (IASB) announced a number of steps it has taken to give constitutents time to prepare for new standards and to provide input to work in progress.
The cross-fertilization that's going on is the result of an agreement between the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) to make their existing financial reporting standards compatible with each other to better respond to the complexity of the world's markets (See "The Urge to Converge," page 70).
The Financial Accounting Standards Board is increasingly in the driver's seat in managing GAAP, whose 100,000 pages of guidelines issued over the past 60 or 70 years are maddeningly complex.
As my colleagues at the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) will agree, fair value accounting poses many challenges and has sparked significant industry debate.
The International Financial Reporting Standard is set to replace the various country-based accounting standards among members of the European Union on Jan, 1, 2005, However, the version that will be adopted relating to insurance contracts--IFRS 4--is the result of a compromise between the International Accounting Standards Board and the insurance industry in Europe, which had several problems with the way the proposed standard would treat insurance contracts, particularly concerning the fair-value method of accounting.
At an international level, the Toronto Valuation Accord group continues to support the International Valuation Standards Committee (IVSC) in its work to ensure valuation standards are consistent with and complementary to the financial reporting standards being developed and promulgated by the International Accounting Standards Board.
Two years ago, the International Accounting Standards Board was a mere benchwarmer in the standards-setting game.
Indeed, the International Accounting Standards Board (IASB) and over 100 countries around the world that have adopted IASB standards embrace the same view.
Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS) issued by the London-based International Accounting Standards Board (IASB).

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