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Comparing accounting standards

  • Thread starter Actuarial Trainee
  • Start date
A

Actuarial Trainee

Member
I'm trying to create a summary comparing the different accounting standards. For the differences so far I've got how gains and losses are recognized, assumptions, discount rate, long term return on assets.

Am I missing anything else important that varies between the standards?

Thanks
 
What about the following (these just popped into my head):

- the purpose for each standard (i.e. FAS87 is used for US companies and subsidaries, IAS19 used for companies listed on stock exchange and FRS17 for others)

- What are their aims

- What needs to be disclosed (i.e. for IAS19, there is a list in the notes that states what needs to be disclosed)

- Have you considered the FRS102 where the ERA = discount rate?
 
Great ideas! Thank you

Yup I've considered frs102
 
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