|
Sponsors of Small and Medium Enterprises approved by the Capital Market Authority 14/7/2008      Auditors Listed at CMA Register Till 18 June 2008      Financial Advisors Listed at CMA Register Till 23 April 2008      Dr. Ahmed Saad Abdel-Latif Has Been Appointed as CMA Chairman for the Second year      The workshop for the Executive Managers on the Corporate Governance is to End Today      The People’s Assembly has approved the Amendments of the Capital Market Law No.95/1995, Stated the Minister of Investment, Dr. Mahmoud Mohieldin      Workshop for the Executive Managers on the Corporate Governance      A Specialized Website for the Investor Awareness
     


Egyptian Accounting Standards 

Egyptian Accounting Standards


• The new Egyptian Accounting Standards were issued as per the decree of the Minister of Investment, Dr. Mahmoud Mohi El Din no.243/2006 to replace current ones issued under the two ministerial decrees no. 503/1997 and 345/2002.

• The 35 Egyptian accounting standards were prepared according to international standards of preparing financial statements issued by the International Federation of Accountants except the adjustments referred to at the Adjustment Annex.

• The new standards include a preface that is an integral part of the EAAS. The preface includes the following:

  1. Issues that were not addressed at the EAAS are subject to international standards of financial reporting until new Egyptian standards are issued.

  2. The establishment administration is responsible for preparing its authorized and published financial statements; observing EAAS of adjustments and disclosure.

  3. The establishment administration may need to prepare financial statements or data for the purpose of analysis, evaluation or decision taking. In that case, the statements and data can be considered internal and it would not be necessary to meet adjusting and disclosure standards stipulated in EAAS. When submitting those statements, the establishment should be so keen to rule out any misunderstanding that the user may have about their authenticity.

  4. Each standard contains a number of paragraphs covering its subject; some stating the standard wording, are typed in a bold underlined font and the others are elaboration. At all cases, standards should be read as one unit.

  5. Some standards contain paragraphs labeled as cancelled rather than deleting them and adjusting the numbers of the next paragraphs. This method was used to keep the serial number of the paragraphs without having to change the number of paragraphs when referring to them in other standards.

  6. The standards should be applied on the most important items and observe them as guidelines in relatively less important ones. The importance of the item can be measured through its effect on the regular user of the financial statements in the light of its weight and relation to the volume of the establishment as well as the surrounding circumstances.
عربي | Contact us | Sitemap | FAQ | Home
 
All rights reserved to Capital Market Authority © 2006