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11003 |
Financial statements: date of
authorisation for issue
IAS 10-pr5
When are financial statements authorised for
issue?
Answer: when board of directors authorises the issue
If
Board approved on 2 March, 2009
Shareholders approved on 8 March, 2009,
then,
financial statements were authorised for issue on 2 March, 2009
U.S. GAAP
asc 855-10-s99-2
SEC Staff Announcement at EITF meeting
EITF: Emerging Issues Task Force
Financial statements are issued,
on the date financial statements are distributed
for general use,
in compliance with GAAP and GAAS
GAAP: Generally Accepted Accounting Principles
GAAS: Generally Accepted Auditing Standards
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International Accounting
Standards (IAS)