Ophthalmology residency training in Jordan:an evaluation of quality and comparison with international standards

AIMTo evaluate Jordanian ophthalmology residency programs in achieving competencies outlined by the International Council of Ophthalmology (ICO) and residents' satisfaction with available training programs in Jordan, and to highlight weakness points that may be improved and strengthened.

Application of International Standards in the Design of Monoblock Contrete Sleepers for Argentinian Railways

It is presented a State of the Art of international standards in the field of monoblock concrete sleepers design and calculation.Taking into account the fact that the Argentinian broad track gauge(1,676 mm)is different to international track gauge(1,435 mm)that is worldwide used,a comparative analysis is developed in order to evaluate the performance of internationals standards in the design of the sleepers used in Argentinian railways.Recommendations for future research are provided.

ISO International Standards—a“toolbox”of Olympic proportions for major sporting,cultural and social events

How are the winners determined in most of the events that make up the Olympic Games? Theyare,of course,the athletes who run or swim faster,jump higher,lift heavier,throw further.But how is their prowess measured? By the SI (Système inter-national) International System of Units,which

Actively Adopt International Standards——The 3^(rd)Workshop of IFAN Held in Shenzhen

Initiated by IFAN,the 3th workshop of International Federation of Standards Users （IFAN） in China was held in Shenzhen on th 12th of June.It was hosted by the China Association for

Developing ISO International Standards for the Animal and Vegetable Fats and Oils Sector

Increasing volumes of oils and fats are produced annually with a large section that are traded internationally. The International Organization for Standardization(ISO) body develops international standards covering almost all aspects of technology and manufacturing with 23,882 standards currently published. Standards in the animal and vegetable fats and oils sector is developed by Technical Committee ISO/TC 34, Food products, Subcommittee SC 11, Animal and vegetable fats and oils. Standards are developed through consensus by national members that represent ISO in their country. Each Standard is developed within a determined timeframe and goes through various pre-determined stages such as project proposal, development, national voting and commenting on the draft Standard to final publication. ISO TC34/SC11 Standards range from sampling of oils and fats, sample preparation to analysis of its composition, the minor components, and quality and identity parameters as well as contaminants. The analysis results are used by industry for product development, labelling, research and to provide peace of mind for consumers on its safety. An important future trend is the focus on the safety concerns from either environmental contamination(e.g. mineral oils) or processing contaminants such as esters of 3-MCPDs(3-monochloropropane-1,2-diol or 3-chloropropane-1,2-diol).

Reflections on Applications of International Standards for Financial Data Exchange in China Securities and Futures Markets

1.1. Development of international data exchange standards in securities field Securities market involves a large number of participants, like investors, securities companies, exchanges, clearingcorporations and so on. Businesses among the participants are completed via data exchange. Therefore, the data exchange protocols serve an important factor to determine and promote the sate and rapid development of the securities market.

Formulation of international standards of Chinese medicine technology:clinical practice guide of Chinese medicine for cough

OBJECTIVE:To formulate the first clinical practice guideline for the treatment of cough using Chinese medicine based on the grading of recommendations assessment,development,and evaluation(GRADE)systematic approach,including clinical evidence,evaluation of ancient literature,and expert consensus.METHODS:In the process of development,the regulation of"evidence-based,consensus-assisted,and empirical"was followed,and a comprehensive systematic approach of recommendation assessment,GRADE,evidence-based evaluation,expert consensus,and the Delphi method was used.In the process of guideline development,evidence-based evaluation of ancient literature was included for the first time,and clinical evidence was fully integrated with clinical expert consensus.RESULTS:The clinical practice guidelines for the treatment of cough with Chinese herbal medicine were developed after a comprehensive consideration of evidence-based evaluation and expert opinions.The guideline recommendations focused on recommending herbal compound decoctions and Chinese patent medicines for cough in different conditions.Based on the GRADE systematic approach,we conducted an evidence-based evaluation of the recommended Chinese patent medicines one by one;meanwhile,the expert consensus method was used to unify the recommendations of both.CONCLUSION:Based on clinical evidence,ancient literature evaluation,and expert consensus,a clinical practice guideline for Traditional Chinese Medicine(TCM)in the treatment of cough was developed,providing the first current clinical practice guideline for domestic and foreign TCM and Western medicine practitioners,especially respiratory professionals at home and abroad.

Current Situation of International Organization for Standardization/Technical Committee 249 International Standards of Traditional Chinese Medicine

Objective： To review the current situation and progress of traditional Chinese medicine（TCM） international standards, standard projects and proposals in International Organization for Standardization（ISO）/technical committee（TC） 249. Methods： ISO/TC 249 standards and standard projects on the ISO website were searched and new standard proposals information were collected from ISO/TC 249 National Mirror Committee in China. Then all the available data were summarized in 5 closely related items, including proposed time, proposed country, assigned working group（WG）, current stage and classification. Results： In ISO/TC 249, there were 2 international standards, 18 standard projects and 24 new standard proposals proposed in 2014. These 44 standard subjects increased year by year since 2011. Twenty-nine of them were proposed by China, 15 were assigned to WG 4, 36 were in preliminary and preparatory stage and 8 were categorized into 4 fields, 7 groups and sub-groups based on International Classification Standards. Conclusion： A rapid and steady development of international standardization in TCM can be observed in ISO/TC 249.

A Prospective Study on the Establishment of International Standards for GRP-ICM and GQP-ICM

Objective: In order to promote the construction of scientific research institutions of TCM in the world and to raise the vitality of the institutions, a prospective study has been done on the establishment of the international standards for the research institutions and quality management, namely, Good Research Practice - Institution of Chinese Medicine (GRP-ICM) and Good Quality Practice - Institution of Chinese Medicine (GQP-ICM). Methods: The document analysis, questionnaire, and experts' consultation were adopted to solicit the opinions on the establishment ofinternational standards for the research institutions and quality management. A total of 74 experts from 22 countries and regions (including China) participated in the questionnaire survey, and 30 experts from 11 countries and regions received the consultations and interviews. Results: In the survey, 85.14% of the experts (63/74 experts)considered that it is necessary to establish the unified international standards; 90.00% appraised GRP-ICM excellent and 80.00% appraised GQP-ICM goods; and 93.10% thought that these two standards can be implemented or can be implemented after revision. Conclusion: This is a prospective study on the establishment ofinternational standards for the research institutions and quality management, with a preliminary understanding of the basic framework, main contents and formulating principles. It lays a solid foundation for the establishment and implementation of the unified international standards for the research institutions and quality management.

Vietnamese State Budget Accounting With the Relationships Between the State Budget Law and International Public Sector Accounting Standards （IPSAS）＊ Pham Quang Huy University of Economics, Ho Chi Minh City, Vietnam

For a long time, Vietnam has modifications in all aspects in the society. For many years, Vietnam has improved features in administrative works as well as in different areas, such as public administration, finance, and accounting In the accounting content, budget accounting is an important thing which is worth noting. However, along with the achievements, Vietnam is also facing a number of limitations to be overcome for ensuring transparency in the state budget. Since then, the main purpose of the article is to provide a general picture of budget accounting in Vietnam and what has not been done through finding the relationships with budget regulations and international public sector accounting. The results showed that Vietnam will transform and issue the new law on budget and build up a new model for controlling information published by data accounting system in the future.

The Faithful Representation of Electrical Energy Sale and Purchase Agreements Under International Accounting Standards/International Financial Reporting Standards （IAS/IFRS）

This article aims at giving a contribution to the issue of accounting electrical energy sale and purchase agreements in accordance with the faithful representation principle. To this end, it must be ascertained whether electrical energy is bought/sold for an industrial use exclusively, so that the relevant transaction will be accounted as a normal purchase/sale, or through the lease of the relevant production plant, which would require the supply contract to be accounted in compliance with International Accounting Standards （IAS） 17 ＂Leasing＂. Alternatively, it must also be ascertained whether the relevant party is implementing financial trading strategies, as in such hypothesis, the supply contract is to be accounted as a financial instrument according to International Financial Reporting Standards （IFRS） 9/IAS 39 ＂Financial Instruments＂. Finally, the modalities used by a number of companies listed on European regulated markets to account such kind of contracts will be analyzed.

The Impact of International Accounting Standards Board （IASB）＇s Guidelines for Preparing Management Commentary （MC）： Evidence From Italian Listed Firms

This paper investigates the Italian firms＇ disclosure in response to the new guidance on the management commentary （MC） contained in the International Financial Reporting Standard （IFRS） practice statement issued by International Accounting Standards Board （IASB） in 2010. The study is organized as follows. After reviewing the relevant literature on financial disclosure and MC, this paper examines the content of the Italian management＇s report-----known as ＂Relazione sulla Gestione＂ and that of the recent IASB＇s IFRS practice statement. Hence, it applies a self-constructed disclosure index and a multiple correspondence analysis （MCA） on MC of a sample of 66 Italian non-financial listed firms. The results show that the level of disclosures provided by the Italian listed firms does not seem to be affected by the IASB＇s guidelines. However, the survey highlights large differences in the level and type of disclosure provided in MC among the sectors and firms. This paper aims to contribute to the financial reporting debate by understanding the IASB＇s guidelines and their impacts on the voluntary disclosure practices of Italian listed firms.

International Public Sector Accounting Standards （IPSAS） Implementation in the European Union （EU） Member States

The aim of this paper is to analyze the implementation level of International Public Sector Accounting Standards （IPSAS） in the member states of the European Union （EU）. After an introduction of the legislative framework in the EU and a review of the literature about the implementation of IPSAS in the EU member states, this paper classifies, on the basis of a survey, the states according to their formal implementation levels of IPSAS. It also analyzes the types of accounting （cash basis accounting, modified cash basis accotmting, accrual accounting, and modified accrual basis accounting） used by the states studied. The survey shows that there are important disparities among the member states, both for the application of IPSAS and for the type of accounting that is used. Furthermore, it appears that even if IPSAS is not legally adopted in most European member states, there is a tendency to use modern accounting systems based on accrual accounting close to IPSAS.

Impact of International Financial Reporting Standards （IFRS） Adoption on Key Financial Ratios＂ The Case of the Czech Republic

This contribution analyzes the impact of new International Financial Reporting Standards （IFRS） reporting rules on financial ratios prepared in the Czech companies. Using a sample of 16 Czech firms, we attempt to measure the scope and size of the differences in the selected set of financial ratios as calculated with data reported according to the traditional Czech accounting standards （CAS） and under the IFRS provisions. Our study discovers that there are important differences resulting from the two reporting formats. Our research comes to a conclusion that translation of Czech statements to IFRS may cause changes in the values of financial indicators without relationship to the real change in the firms＇ value, performance, and stability. Even though the findings were not statistically significant, the indicative results of our measurements disclosed an important fact that the transition to IFRS could cause deterioration of key indicators and thereby could impact on the overall rating of companies. One needs to be cautious with generalization due to the small sample size.

The Relevance of International Financial Reporting Standards for Small and Medium-Sized Entities （IFRS for SMEs） in Swaziland

The purpose of this study is to explore the relevance of adopting International Financial Reporting Standards （IFRS） for small and medium-sized entities （SMEs） in Swaziland. The study further seeks to determine if IFRS for SMEs can be the solution to better reporting by local SMEs. There has been a growing need for different reporting standards for small firms and big firms over the years due to the unique challenges and attributes they face especially in the area of financial reporting. This research is based on a statistical analysis of questionnaires completed by accountants from SMEs in Swaziland as well as other stakeholders who have a direct or an indirect interest in the financial statements of SMEs. These stakeholders included audit firms and the financial institutions. The sampling rate of 10% was applied across each industry to come up with a sample of 60 SMEs. Furthermore, a 100% sampling rate on the other stakeholders was applied. These were nine financial institutions and eight audit finns. The findings from the study revealed that SMEs in Swaziland are having challenges with the current reporting framework but to some extent, the framework is suitable. Most SMEs are not aware of IFRS for SMEs, therefore the accounting profession in Swaziland （SIA） has a huge role to play in training auditors and accountants in the country. Overall, IFRS for SMEs is applicable in Swaziland.

International Accounting Standards Board （IASB） and Financial Accounting Standards Board （FASB） Convergence Project： Where Are They Now？

The convergence project between the International Accounting Standards Board （IASB） and the Financial Accounting Standards Board （FASB） in the United States （US） was signed on September 18, 2002 in Norwalk, Connecticut in the US. The first is responsible for issuing International Financial Reporting Standards （IFRS） nowadays, which were created 40 years ago. More than one century ago, local regulations are used in the US. The boards differ in years of experience. With the signing of the agreement, both institutions are working to reduce the divergence of accounting. Although they have made a significant progress, it is appropriate to examine whether the difference in approaches to accounting will affect the achieved agreements. It is relevant to investigate whether the years leading the standards adopted in different countries will impact the final result. The date of completion of the project has been postponed and still has not indicated the date of termination. This research is an analysis of the importance of the convergence of accounting standards at a global level. The study presents statistics on the status of the adoption of international standards by country. The study shows a summary of the expressions made by the directors of both boards about the future of the project.

Claim reserving for insurance contracts in line with the International Financial Reporting Standards 17:a new paid‑incurred chain approach to risk adjustments

This study considers the risk management of insurance policies in line with the implementation of the new International Financial Reporting Standards 17.It applies the paid-incurred chain method to model the future unpaid losses by combining the information channels of both the incurred claims and paid losses.We propose the recovery of the empirical distribution of the outstanding claims liabilities associated with a group of contracts via moment-based density approximation.We determine the risk measures and adjustments that are compliant with the new standard using the Monte–Carlo simulation method and approximated distributions.The historical data on the aggregate Ontario automobile insurance claims over a 15-year period are analyzed to examine the appropriateness and accuracy of our approach.

Review of International Accounting Standards Board （IASB） Proposed New Conceptual Framework： Discussion Paper （DP/2013/1）

The International Accounting Standards Board （IASB） is one of the largest independent accounting standard setters whose publications, International Financial Reporting Standards （IFRSs）, have revolutionalized the accounting profession, investors, finance providers, and the entire accounting information stakeholder community. The conceptual frameworks are the theoretical accounting bases that are constituted by a set of principles that underlie as a bedrock foundation cornerstone for the development and updating of IFRSs. The existing conceptual frameworks were issued by IASB in 2010, after long years of protracted and wide consultation and joint project with the biggest American standard setter Financial Accounting Standards Board （FASB）. In year 2013, the IASB embarked on a solo project to update the conceptual framework and issued a discussion paper （DP/2013/1） to its users and stakeholder community for comments. The methodology used in this study of an extensive review of literature （secondary/primary） from the discussion paper, existing conceptual framework, and comment letters from investors, accounting, insurance, and international audit firms has been manipulated. The findings revealed that the existing conceptual framework has opposing objectives especially that of decision usefulness （future-oriented information） and concepts of ＂prudence and stewardship/accountability＂, which are deeply embedded within the framework as subsumed, but their prominence has been overshadowed and watered down by not identifying them as objectives. The finding also revealed that almost all public accounting and audit firms are advocating not only for the reinstatement of the ＂prudence and stewardship/accountability＂ but also for a clear definition of recognition, de-recognition, and measurement of statement of financial position elements （assets and liabilities） and also elements of the comprehensive income statement （revenues and expenses）, which have seriously compromised investors, public accounting profession, learning/teaching of a framework-based understanding, and the entire IFRS user stakeholder community. A recommendation for further studying the abandoned joint IASB/FASB project should be investigated in the best interest of international accounting standards convergence.

The Market Reaction to the Pronouncements Related to International Accounting Standards （IAS） 19R

This paper examines whether and how investors reacted to the pronouncements related to International Accounting Standards （IAS） 19R. Using a sample of 401 European firms reporting pension and retirement expense during the period of 2006-2011, this paper finds negative abnormal returns around the pension project initiation by the International Accounting Standards Board （IASB）. More importantly, the abnormal returns are more negative for firms with higher financial leverage and lower ratios of net periodic pension cost to net income, but less negative for firms in countries with weak creditor rights （CR） and infrequent use of the corridor approach under IAS 19. Additionally, the effects of financial leverage and the ratio of net periodic pension cost to net income on the abnormal returns are more pronounced for smaller firms. Overall, the results are consistent with the view that recognition of previously disclosed off-balance-sheet pension liabilities as required by IAS 19R increases debt contracting costs, and highlight the importance of considering firm size and CR in international tests of debt contracting theory.

Roadmap to Future Mandatory Application of International Financial Reporting Standards （IFRS） in Japan From the Perspectives of Financial Statement Preparers

This paper seeks to contribute to the discussion on the future mandatory application of Intemational Financial Reporting Standards （IFRS） using data from a questionnaire-based survey administered to financial statement preparers, that is, management in Japan. The important findings of this paper are as follows. The majority of Japanese companies consider that the domestic markets are more important than overseas markets; the most important differences between IFRS and Japanese standards are goodwill, comprehensive income, and the recognition of revenue; it is expected that IFRS would be applied only in consolidated financial statements or in both consolidated and parent companies＇ separate financial statements; and the lack of legislation making it mandatory is the main reason why IFRS has not been adopted by Japanese companies. Overall, this paper found that Japanese management is prudent and passive regarding IFRS adoption, leaving room for further discussions on the future mandatory application of IFRS in Japan.