The Arab Society of Certified Accountants (ASCA) (www.ascasociet.org) Jordan announced on December 18, 2006, the release of the Arabic translated edition of the Financial Reporting Standards (IFRSs) 2006. Moreover, the publication includes the latest modifications which occurred in the year 2005.
The Publication outlined the following points
- It included the new International Financial Reporting Standards IFRS 7 “ Financial Instruments: Disclosures”
- It also includes the International Financial Reporting Interpretation Committee (IFRIC) interpretation for the three new standards 6-8.
- Issuing the modifications to the International Financial Reporting Standards 1, 4, 6. in addition to the International Accounting Standard 1, 21, and 39
- The latest modifications on the International Financial Reporting Standards
- The International Accounting standards 30 was omitted and replaced by the International Financial Reporting Standards 7. In addition to the withdrawal of the the International Financial Reporting Standards (IFRS 8).
ASCA works toward developing the accounting and management sciences and improving the quality of the profession by publishing accountancy materials, and by staying up-to-date with the news accounting and auditing standards.