INTERNATIONAL TECHNICAL UPDATE – IASB RELEASES NEW STANDARD FOR INDUSTRIES WITH PRICE REGULATORY CONTROLS
February 1st, 2021
The International Accounting Standards Board (IASB) has proposed a new accounting standard helping companies whose income can be changed by rate regulations, to give a clearer picture about their financial performance. Sectors covered include utilities and public transport, whose charges are often capped by governments. When these rues change close to accounting deadlines, that can create ambiguity in accounts. The change would require such companies to report assets and liabilities affected by these regulations. ...
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