RMYC Incentive Plan

Sat, 18 Jun 2011 22:18:55 +0100

Good news, NFJPIAn!

We have lined up a series of activities highlighting academic excellence, social awareness, and social involvement. Among these activities are the PICPA Boom (this July 30-31, 2011 at the Ateneo de Zamboanga University, Zamboanga City), and the National Crop Planting (August 21, 2011 at each respective zones). To boost up participation from the different local chapters, we have come up with an incentive plan.

In line with this, we would like to inform you that we will be giving a five percent (5%) discount on the registration fee for the upcoming 14^th Regional Mid-Year Convention to the local chapter who will be

sending participants equal to 1/10 of the total participating population for the PICPA Boom,
sending participants equal to 1/10 of the total participating population for the National Crop Planting event, and
remitting one hundred (100%) of the membership fees due together with all other relevant requirements on or before the deadline set.

We owe our activities to you, and this is our way of giving back. We look forward to your support.

APRIL 2011 IASB UPDATE

Fri, 22 Apr 2011 07:39:02 +0100

IASB Update

From the International Accounting Standards Board

April 2011

Welcome to IASB Update

This IASB Update is a staff summary of the tentative decisions reached by the Board at a public meeting. As a project progresses the Board may modify its earlier tentative decisions. Tentative decisions do not change existing requirements until those decisions are incorporated in a new or amended standard.

The IASB met in London from Tuesday 12 April to Friday 15 April. The sessions on Tuesday and Wednesday and on Thursday morning were held jointly with the US-based FASB.

The joint discussions focused on four projects: revenue recognition, leases, insurance contracts, and impairment of financial assets. The IASB-only sessions focused on hedge accounting (which the FASB joined by video) and an update of activities of the IFRS Interpretations Committee.

The boards discussed uncertain consideration in relation to revenue recognition and leases. The revenue recognition sessions also focused on allocating the transaction price, licences and rights to use, fulfilment costs, and sale and repurchase agreements. The leases sessions also focused on the definition of a lease and whether there should be one or two accounting approaches for leases.

The session on insurance focused on the use of a 'top-down approach' to determine a discount rate.

The impairment sessions included consideration of feedback from the outreach activities and comment letters on the joint supplementary document Financial Instruments: Impairment, interest income recognition and the definition of amortised cost and whether to discount a loss estimate.

In the sessions on hedge accounting the IASB began its redeliberations on the exposure draft Hedge Accounting and discussed the objective of hedge accounting and accounting for 'funding swaps', designating risk components of financial instruments that bear interest below a benchmark rate (the 'sub-LIBOR' issue), the eligibility of non-derivative financial instruments as hedging instruments (including the interaction with the fair value option) and macro hedge accounting.

During board week Sir David Tweedie, Chairman of the IASB, and Leslie Seidman, Chairman of the FASB, recorded an interview in which they review the achievements of the convergence programme so far and the time line for completing the remaining elements of the programme. To listen to the interview and read a transcript, please click here.

The topics discussed at the joint IASB/FASB board meeting were:

The topics discussed at the IASB Board meeting were:

Contact us

International Accounting
Standards Board
30 Cannon Street
London EC4M 6XH
United Kingdom

Tel: +44 (0)20 7246 6410
Fax: +44 (0)20 7246 6411
E-mail: info@ifrs.org
Website: www.ifrs.org

Future Board meetings

The IASB meets at least once a month for up to five days.

The next Board meetings in 2011 are:

4 May
11 May
16-20 May

To see all Board meetings for 2011, click here.

Archive of IASB Update Newsletter

Click here for archived copies of past issues of IASB Update on the IASB website.

Podcast summaries

To listen to a short Board meeting audio summary (podcast) or previous Board meetings, click here.

Click here to view discussions on the above-mentioned topics or
you may click on the individual topics above.

Welcome to our website.

Thu, 21 Apr 2011 03:16:46 +0100

Hello there. Welcome to our website.