International Accounting Standard

= IAS

Any of the accounting standards issued by the board of the International Accounting Standards Committee (IASC) between 1973 and 2001. In 2001 the IASC was replaced by the International Accounting Standards Board (IASB), which announced that its accounting standards would be designated International Financial Reporting Standards (IFRS). The IASB stated that all of the International Accounting Standards issued by the IASC would continue to be applicable unless and until they were amended or withdrawn by the new body. For years starting on or after 1 January 2005, listed companies in the EU are required to use adopted IASs in their consolidated accounts. See box on p. 284. International Accounting StandardsInternational Accounting Standards

1. Presentation of Financial Statements (revised 2003)

2. Inventories (revised 2003)

7. Cash Flow Statements

8. Accounting Policies, Changes in Accounting Estimates, and Errors (revised 2003)

10. Events After the Balance Sheet Date (revised 2003)

11. Construction Contracts

12. Income Taxes

14. Segment Reporting (revised 2003)

16. Property, Plant and Equipment (revised 2003)

17. Leases (revised 2003)

18. Revenue

19. Employee Benefits

20. Accounting for Government Grants and Disclosure of Government Assistance

21. The Effects of Changes in Foreign Exchange Rates (revised 2003)

23. Capitalization of Borrowing Costs

24. Related Party Disclosures (revised 2003)

26. Accounting and Reporting by Retirement Benefit Plans

27. Consolidated and Separate Financial Statements (revised 2003)

28. Investments in Associates (revised 2003)

29. Financial Reporting in Hyperinflationary Economies

30. Disclosures in the Financial Statements of Banks and Similar Financial Institutions

31. Interests In Joint Ventures (revised 2003)

32. Financial Instruments: Disclosure and Presentation

33. Earnings Per Share (revised 2003)

34. Interim Financial Reporting

36. Impairment of Assets

37. Provisions, Contingent Liabilities and Contingent Assets

38. Intangible Assets

39. Financial Instruments: Recognition and Measurement

40. Investment Property (revised 2003)

41. Agriculture As indicated, 14 IASs were issued in revised form under the International Accounting Standards Board's Improvements Project in December 2003.