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PositionNews Round Up - Brief Article

Proposals by the Accounting Standards Board (ASB) on the treatment of share-based payments have caused controversy in the accounting profession. CIMA broadly supports the proposals, describing them as "real improvements to the reporting and disclosure of share-based payments", but it has called on the ASB to reconsider the 2004 starting date. This is a whole year before the general requirement for EU-listed companies to harmonise with international standards in 2005. Instead, the institute advocates a big-bang approach to implementing all the financial reporting changes. The ASB has proposed that, when an entity receives goods or services in exchange for a share-based payment, it should treat this as an expense. The expense, which should be measured by fair value, must be recognised over the period in which the goods or services are received. But Michael Pearce, European partner at Mercer Human Resource Consulting, thinks that the method is a nonsense, it will create a huge amount...

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