Le magazine du trésorier - n°68 - 4ème trimestre 2009 - (Page 4)

FINANCIAL HIGHLIGHTS Luxembourg News IASB publishes IFRS 9 to replace IAS 39 The IAS 39 has been highly criticized as a standard that is complex and difficult to apply. That’s why the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) have been urged to reduce the complexity of accounting standards for financial instruments and make significant progress towards a single set of high quality global accounting standards by the end of 2009. Phase 1 of the IASBs financial instruments project is now complete, with the issue of IFRS 9 Financial Instruments on 12 November 2009. Phase 1 establishes a new classification and measurement framework for financial assets, replacing the corresponding sections of IAS 39. Pittsburgh, where they issued the Principles for Sound Compensation Practice, management should reevaluate whether existing compensation schemes are in line with longterm value creation as opposed to risk-taking. If they are not, it may be in the entity’s best interest to make changes, before regulators perceive an apparent lack of response by entities and decide to take their own action. Implementing these changes is likely to impact financial results, even if cash outflows are not affected. It is important that management understand the potential consequences of their actions, even if willingly accepted, to comply with the G-20 principles. right groups within their organizations to capture the necessary information. This will apply to all members within the group reporting structure, as well as associates or other investees may also need to be evaluated in order to determine whether the reporting entity is doing business with such affiliates as these types of relationships may meet the definition of a related party relationship. Debt modification and extinguishment — how modifying a company’s debt affects financial reporting As a result of the tough economic conditions, many businesses have had to restructure the terms of their outstanding debt, or replace or modify the terms of their outstanding debt to reduce their financing costs and strengthen their financial position. Such changes may require different accounting treatments and thus may have different financial reporting and tax implications. At the same time, the financial crisis has made investors and analysts and other financial stakeholders more vocal in their demands for more information and more consistency in the information that is communicated.As such, companies need to ensure that a clear and cohesive story is communicated to the market place. Related party disclosures – Amendments to IAS 24 The IASB has issued a revised version of IAS 24 Related Party Disclosures that clarifies and simplifies the definition of a related party. The revised standard also provides some relief for government-related entities (as defined in the amended standard) to disclose details of all transactions with other government-related entities (as well as with the government itself). Identifying and disclosing related party transactions may continue to be a timely and costly exercise. Financial statement preparers need to ensure that they work with the Potential accounting implications of G-20's executive compensation Following the G-20 summit in

Table des matières de la publication Le magazine du trésorier - n°68 - 4ème trimestre 2009

- Une dette, cela se rembourse...
- Mrs.Aline Weier, Robert Half  Finance & Comptabilité
- Evolution de la fonction de trésorerie en période de crise
- What services expected from a trading floor and changes after the financial crisis
- Adding Value for Stakeholders Through Improved Risk Management
- J.P. Morgan’s 2009 Global Cash Management Survey reveals the latest investment trends among corporate treasurers
- Performance Management : from strategy to winning KPIs
- 15 minutes avec… le CRP Henri Tudor
- Conférence Banque Degroof : Risques Climatiques
- Trésoriers de l’ATEL à l’honneur
- EACT semi-annual meeting Copenhagen
- Questions to Richard Raeburn, EACT Chairman

Le magazine du trésorier - n°68 - 4ème trimestre 2009