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ation to its corresponding Standard six on a re vision in 2005 and its effect would have taken place on or after the first of January the following financial year. Another yet revisit on the standard was carried out in May two thousand and eight in relation n to cost of any investment on its first time adoption. It was required to take effect on or at the beginning of the year two thousand and nine. All these applications of the standards welcomed any earlier effective dates with companies willing to adopt these standards.

On the International Financial Reporting Standard number two, that is IFRS Two, there was a first announcement or the first issuance in the year two thousand and four with effective dates given as from or after the beginning of the following year. Later, it was revised in the year two thousand and eight with an amendment in relation to vesting conditions and cancellations and the proposed period of the effective dates were given as from or the period after the beginning of the year two thousand and nine.

On IFRS 3, that is, the principle of business combinations, it was first issued in the year two thousand and four with an effective date set to periods beginning or periods after the thirty first of March of the same year. There was a later revisit to this standard with an amendment done in relation to any acquisition method in the year 2008 and thereafter, effective dates issued from the periods beginning on or after the first of July the same year.

Another Standard that was issued in the year two thousand and four is the Standard on the Insurance Contracts that was classified as IRFS standard number four. The standard was designed to take effect from the beginning of the following year and was later amended in the August of two thousand and five.

Then came the defined number five IFRS standard stating the principle on the non-current assets held for sale and discontinued operations. This standard was clearly stated by the IASB in March of two thousand and four and had to bee effective by the beginning of the year two thousand and five. A later amendment was carried out on this and then was later expected to take effect as from May of two thousand and eight.

The international standard number six was started in the year two thousand and four. This standard provides for the discovery and evaluation of mineral resources. This standard permits a commercial body to develop a bookkeeping policy for examination and evaluation of assets without orientation to the IASs numbers eleven and twelve respectively.

On the other hand, the European Union had endorsed these standards and therefore the U.K companies had little choice but to adopt the IRFS because of this. Any company which forms part of an E-U listed Group had to adopt this transition requiring it to change the financial reporting standards from GAAP to IASB's IRFS.This is because after the announcement of these standards, the E-U started an endorsement program requiring all companies in its listed group to adapt to these changes.

Also in 2004, there was an enforcement of Accounting standard in Europe by the Committee of European Securities Regulators because it had adopted n本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。