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IFRS are issued by the International Accounting Standards Board (IASB). IPSASB adapts IFRS to a public sector context when appropriate. In undertaking that process, the IPSASB attempts, wherever possible, to maintain the accounting treatment and original text of the IFRS unless there is a significant public sector issue which warrants a departure.
Capital parts are spare parts which, although acknowledged to have a long life or a small chance of failure, would cause a long shutdown of equipment because it would take a long time to get a replacement for them. Capital parts are typically repaired or replaced during planned overhauls/scheduled inspections.
A 48 V system can provide more power, improve energy recuperation, [7] and allow up to an 85% decrease in cable mass. [10]12-volt systems can provide only 3.5 kilowatts, while a 48 V power could achieve 15 to 20 kW or even 50 kW. 48 volts is below the level that is considered safe in dry conditions without special protective measures. [11]
In September 2014, the company formally announced the long-awaited modification to its corporate structure - a split into two separate companies: Federal-Mogul Powertrain and Federal-Mogul Motor-Parts. The Powertrain division will focus on manufacturing and selling OEM auto parts, while the Motor-Parts division will be responsible for selling ...
After the Trustees’ Review of Structure and Effectiveness in 2015, the number of members were in 2016 again set to 14 members. The IFRS Interpretations Committee has 15 members. It is the IASB's interpretative body and its brief is to provide timely guidance on application issues that arise in practice. [3]
In 2006, the FASB began working with the International Accounting Standards Board (IASB) to reduce or eliminate the differences between U.S. GAAP and the International Financial Reporting Standards (IFRS), known as the IASB-FASB convergence project. [15] The scope of the overall IASB-FASB convergence project has evolved over time.
The IASB is an independent group of experts with an appropriate mix of recent practical experience and broad geographical diversity, as required by the IFRS Foundation Constitution. [ 4 ] IASB members are responsible for the development and publication of IFRS Accounting Standards, including the IFRS for SMEs Accounting Standard.
The automotive aftermarket is the secondary parts market of the automotive industry, concerned with the manufacturing, remanufacturing, distribution, retailing, and installation of all vehicle parts, chemicals, equipment, and accessories, after the sale of the automobile by the original equipment manufacturer (OEM) to the consumer.