The Accounting Standards Board (ASB) has published seven exposure drafts on proposed new British standards. This represents the first step towards aligning them with international standards. The drafts are:
* Fred-23: Hedge Accounting.
* Fred-24: The Effects of Changes in Foreign Exchange Rates; Financial Reporting in Hyperinflationary Economies.
* Fred-25: Related-Party Disclosures.
* Fred-26: Earnings Per Share.
* Fred-27: Events After the Balance Sheet Date.