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STATUS OF ADOPTION OF IAS
JANUARY 2003

IAS
Title
Adopted
ED
Effective
Date
To be adopted
Equivalent SFAS for IAS Not Yet Adopted or Effective

Framework for the Preparation and Presentation of Financial Statements
Framework (Framework)*

2001


IAS 1
Presentation of Financial Statements
SFAS 1 (rev) (IAS 1)*

2001


IAS 2
Inventories
SFAS 4 (rev) (IAS 2)*

2001


IAS 7
Cash Flow Statements
SFAS 22 (rev) (IAS 7)*

2001


IAS 8
Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies
SFAS 13 (rev) (IAS 8)*

2001


IAS 10
Events After the Balance Sheet Date
SFAS 10/IAS 10

2003

SFAS 7, Contingencies & Subsequent Events
IAS 11
Construction Contracts
SFAS 26 (IAS 11)*

1998


IAS 12
Income Taxes

ED 52

/
SFAS 23, Income Taxes
IAS 14
Segment Reporting
SFAS 31 (IAS 14)*

2001
/

IAS 15
Information Reflecting the Effects of Changing Prices





IAS 16
Property, Plant and Equipment

SFAS 16/IAS 16

2002


IAS 17
Leases

ED 49/IAS 17

2004



IAS 18
Revenue
SFAS 28 (IAS 18)*

1998


IAS 19
Employee Benefits



/
SFAS 24, Retirement Benefit Costs
IAS 20
Accounting for Government Grants and Disclosure of Government Assistance

ED 50/IAS 20
2003


IAS 21
The Effects of Changes in Foreign Exchange Rates

ED 37 /IAS 21
2005

SFAS 8, Foreign Exchange

Deferral of Foreign Exchange Differences (an amendment of SFAS 8)

ED 51
2003


IAS 22
Business Combinations
SFAS 22 / IAS 22

2003

SFAS 20, Business Combinations
IAS 23
Borrowing Costs

SFAS 25 (IAS 23)*

1997


IAS 24
Related Party Disclosures
SFAS 24/IAS 24

2002


IAS 26
Accounting and Reporting by Retirement Benefit Plans

ED 53

/

IAS 27
Consolidated Financial Statements and Accounting for Investments in Subsidiaries
SFAS 27/IAS 27

2002


IAS 28
Accounting for Investments in Associates
SFAS 28 / IAS 28

2002


IAS 29
Financial Reporting in Hyperinflationary Economies



/

IAS 30
Disclosures in the Financial Statements of Banks and Similar Financial Institutions



/
SFAS 19, Banking GAAP
IAS 31
Financial Reporting of Interests In Joint Ventures
SFAS 31/IAS 31

2002


IAS 32
Financial Instruments: Disclosures and Presentation

ED 54

/
SFAS 10, Investments
IAS 33
Earnings Per Share
SFAS 29 (IAS 33)*
1998


IAS 34
Interim Financial Reporting
SFAS 30 (IAS 34)*

2001


IAS 35
Discontinuing Operations
SFAS 35/IAS 35

2002


IAS 36
Impairment of Assets
SFAS 36/IAS 36

2002


IAS 37 Provisions, Contingent Liabilities and Contingent Assets
SFAS 37/IAS 37

2003

SFAS 7, Contingencies & Subsequent Events
IAS 38 Intangible Assets
SFAS 38/IAS 38

2003

SFAS 9, Intangibles
IAS 39 Financial Instruments: Recognition and Measurement

ED 55

/
SFAS 10, Investments
IAS 40 Investment Property




/
SFAS 10, Investments
IAS 41
Agriculture



/

*SFAS based on IAS but not yet reformatted.  Basis IAS is indicated in parenthesis.


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