Phorrr! Factor (/10): 6 In One Word:Steamyifrs 8 On General Release: 1 Jan 2009 Fancier: Mr T, Financial Controller, Birmingham, UK
My wife and I have waited a long time for this particularly attractive standard to be released.
IFRS 8 gives alternative accountants and other double-entry deviants like us what we have secretly craved for years - the right to openly oggle at other people's operating segments and compare them with our own.
No more secretive under-the-counter analysis techniques for us!
THE IFRS HOT HIGHLIGHT: I must say we find the requirement for conventional accountants to follow 'the management approach' peculiarly stimulating! (between you and me, my wife finds the thought that senior management used this very same data to service their own needs privately particularly arousing)
In summary, with plenty more decent disclosures than it's at-tops-titillating predecessor, IAS 14, and some classy convergence material from US Standard SFAS 131, this IFRS is bound to please punters of all persuasions.