Sweden Accounting Standards

For becoming perfect in accounting, we should learn each country's accounting standard. I have explained  almost all Indian Accounting Standards. Now, I am explaining about Sweden Accounting Standards. Sweden is the third largest country in the European Union by area. International Financial Reporting Standards (IFRS) was adopted 2005. Some swedish govt.'s members have been included in Accounting Regulatory Committee (ARC) because Sweden is an EU Member State and they give suggestions to improve IFRS.  It has been adopting  IFRSs since 2005. It has also made Swedish Accounting Standards Board which is govt. authority there for checking rules and regulation of accounting. However, all the rules in Sweden Accounting Standards are of IFRS.  But the Swedish Financial Accounting Council (SFASC) and The Swedish Accounting Standards Board has issued  new  following accounting standards due to some differences with IAS.  
  • SFASC 9, Income Taxes (based on IAS 12).
  • SFASC 10, Construction Contracts (based on IAS 11).
  • SFASC 11, Revenues (based on IAS 18).
  • SFASC 12, Property, Plant and Equipment (based on IAS 16).
  • SFASC 13, Associated Company (based on IAS 28).
  • SFASC 14, Joint Ventures (based on IAS 31).
  • SFASC 18, Earnings per Share (based on IAS 33).
  • SFASC 20, Interim Financial Reporting (based on IAS 34).
  • SFASC 1:00, Business Combinations (based on IAS 22 and 27).
  • SFASC 15, Intangible Assets (based on IAS 38).
  • SFASC 16, Provision, Contingent Liabilities and Contingent Assets (based on IAS 37).
  • SFASC 17, Impairment of Assets (based on IAS 36).
  • SFASC 19, Discontinuing Operations (based on IAS 35).
  • SFASC 21, Borrowing Costs (based on IAS 23).
  • SFASC 22, Presentation of Financial Statements (based on IAS 1).
  • SFASC 23, Related Party Disclosures (based on IAS 24).
  • SFASC 25 - Segment Reporting (based on IAS 14, Segment Reporting)
  • SFASC 26 - Events After the Balance Sheet Date (based on IAS 10, Events After the Balance Sheet Date)
  • SFASC 27 - Financial Instruments: Disclosure and Presentation (based on IAS 32, Financial Instruments: Disclosure and Presentation)
  • SASB 2001:1 Income Taxes (based on SFASC 9).
  • SASB 2001:2 Transaction Recording.
  • SASB 2001:3 Property, Plant and Equipment (based on SFASC 12).
  • SASB 2001:4 Statement on How to Account for Inventory Obsolescence.

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Accounting Education: Sweden Accounting Standards
Sweden Accounting Standards
Accounting Education
http://www.svtuition.org/2011/04/sweden-accounting-standards.html
http://www.svtuition.org/
http://www.svtuition.org/
http://www.svtuition.org/2011/04/sweden-accounting-standards.html
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