NEW YORK-The International Accounting Standards Board (IASB) has published on May 22, 2008 Improvements to IFRSs - a collection of amendments to International Financial Reporting Standards (IFRSs). These amendments are the result of conclusions the Board reached on proposals made in its annual improvements project.
The amendments are of two types:
• Amendments that involve accounting changes for presentation, recognition or measurement purposes, and
• Amendments that involve terminology or editorial changes with minimal effect on accounting.
The amendments will be effective beginning on or after January 1, 2009.
IASB is committed to developing in the public interest a single set of high quality global accounting standards.
For more information please visit the following website: www.iasb.org