Flight operations updates. JFK runway construction. Last Updated: 4/20/2017 03:00 AM ET. The Port Authority of New York & New Jersey (PANYNJ) is leading a federally mandated runway improvement project at New York's John F. Kennedy International Airport (JFK) through mid-November 2017.
Definition. IFRS: An associate is an entity over which the investor has significant influence â that is, the power to participate in, but not control, an associateâs financial and operating policies.efinition. IFRS: A joint venture is defined as a contractual agreement whereby two or more parties undertake an economic activity that is subject to joint control. Joint control is the contractually agreed sharing of control of an economic activity. Unanimous consent of the parties sharing control is required.
International Financial Reporting Standards (IFRS) is a set of international accounting standards that states how certain transactions and events should be reported in financial statements. It is based upon principles rather than hard set rules, which is in contrast to U.S. GAAP, a rules-based accounting standard.owever, LIFO is not allowed under IFRS, so firms that have used LIFO in the past under U.S. GAAP will soon have to change their inventory method to FIFO. Property and Equipment. Also known as the fixed assets of the firm, property and equipment are reported at their initial cost less the accumulated depreciation.