Accounting Standards Committee - ASC

A former organization under the Consultative Committee of Accountancy Bodies (CCAB) in the United Kingdom. The Accounting Standards Committee (ASC) duties included developing standards for financial reporting and accounting, recording these standards and communicating them through press releases and publications. It existed between 1976 and 1990 when its duties were assumed by the Accounting Standards Board (ASB). The committee was preceded by the Accounting Standards Steering Committee (ASSC).

Accounting scandals in the late 1960s and early 1970s prompted the formation of the Accounting Standards Committee to issue accounting standards. In 1990, the Accounting Standards Board took over its responsibilities, which was then replaced by the International Accounting Standards Board (IASB) in 2001. The IASB issues accounting standards within the United Kingdom and collaborates with other countries' accounting standard-setters.


Investment dictionary. . 2012.

Look at other dictionaries:

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  • International Accounting Standards Committee — IASC A committee that came into existence in 1973 as a result of an agreement by accounting bodies in a number of countries. Its objectives were the formulation and publication of accounting standards, the promotion of their worldwide acceptance …   Accounting dictionary

  • International Accounting Standards Committee — Das International Accounting Standards Committee (IASC) wurde am 29. Juni 1973 als Vorgängerorganisation des International Accounting Standards Board (IASB) in London gegründet. Sie war eine privatrechtliche Organisation der Berufsverbände… …   Deutsch Wikipedia

  • International Accounting Standards Committee Foundation — Organigramm der IASC Foundation Die International Accounting Standards Committee Foundation (IASCF) ist eine gemeinnützige Stiftung. Ihre Zielsetzung ist es, hochwertige globale Rechnungslegungsstandards zu entwickeln, die Nutzung und Anwendung… …   Deutsch Wikipedia

  • International Accounting Standards Committee — L International Accounting Standards Committee (IASC) fut fondé en juin 1973 à Londres, et remplacé par l International Accounting Standards Board (IASB) le 1er avril 2001. L IASC était chargé d élaborer les standards comptables internationaux… …   Wikipédia en Français

  • International Accounting Standards Committee — was founded in June 1973 in London and replaced by the International Accounting Standards Board on April 1, 2001. It was responsible for developing the International Accounting Standards and promoting the use and application of these… …   Wikipedia

  • International Accounting Standards Committee — UK US noun (ABBREVIATION IASC) ► ACCOUNTING an organization that was replaced by the International Accounting Standards Board (IASB) in 2001 …   Financial and business terms

  • International Accounting Standards Committee — IASC The predecessor of the *International Accounting Standards Board (IASB). Established in 1973, the IASC’s founder members were representatives of the accounting professions of Australia, Canada, France, Germany, Japan, Mexico, the Netherlands …   Auditor's dictionary

  • International Accounting Standards Committee —   Promotes and publishes international accounting standards …   International financial encyclopaedia

  • German Accounting Standards Committee — ⇡ Deutsches Rechnungslegungs Standards Committee …   Lexikon der Economics

  • International Accounting Standards Committee — Fin see IASC …   The ultimate business dictionary

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