IASB could clarify definitions for balance-sheet items

01/2/2013 | CFO.com

The International Accounting Standards Board said in December that it should work to clarify accounting definitions for balance-sheet items such as revenue recognition, insurance contracts and leases after respondents in a study said stronger definitions would help make accounting easier for multinational companies. Respondents also said they wanted more clarity on how to account for intangibles.

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