Accounting Standard 21 "Leases" (IAS 17 "Leases")
Accounting Standard 22 "Revenue" (IAS 18 "Revenue")
The Accounting Standards become operative for annual reports covering financial years beginning on or after 1 July 2003.
In Focus no. 48 state authorised public accountant Per Gunslev, head of KPMG Regnskab & Revision, writes about the new Accounting Standards, including the effect on listed enterprises' annual reports issued after 1 July 2003.
The Accounting Standards are significant new interpretations and have been prepared in order to supplement the framework provisions of the Danish Financial Statements Act and to ensure a consistent accounting treatment in these often complex areas.
The Accounting Standards have been prepared on the basis of International Accounting Standards IAS 17 and 18.
The new Accounting Standards place greater demands on listed enterprises, and Per Gunslev assesses that they will significantly affect a number of listed enterprises' annual reports.
Read the entire article "New Danish Accounting Standards on Leases and Revenue" in Focus no. 48 on the website of the Copenhagen Stock Exchange www.cse.dk.
