This update was first published in the November 2011 UK edition of Accounting and Business magazine.
The International Accounting Standards Board (IASB) has issued effect analyses for two new standards: IFRS 10, Consolidated Financial Statements and IFRS 11, Joint Arrangements. Both analyses also consider the relevant effects of IFRS 12, Disclosure of Interests in Other Entities. The IASB documents provide insights into the most significant effects of the new standards.
Yvonne Lang, director, and Kern Roberts, associate director, Smith & Williamson