Accounting
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January 4, 2012
By most reports, the Financial Accounting Standards Board and the International Accounting Standards Board made good progress during their joint meeting Oct. 26 - 28 in Norwalk, Conn.
So much so, that the two boards agreed to meet jointly more often in 2010.
"We seem to be more effective and efficient when we m
September 23, 2011
Doubts appear to be growing, not abating, over the wisdom of adopting international financial reporting standards for domestic use by U.S. companies.
June 23, 2011
2011-06-23
The Financial Accounting Standards Board and the International Accounting Standards Board are trying to get all the details right in their bid to create a single, global standard for recognizing revenue.
The boards June 15 decided to re-expose their proposal for revenue recognition, a slightly
June 10, 2011
The Financial Accounting Standards Board and the International Accounting Standards Board are keenly aware that the bad loans banks hold on their balance sheets harbor the potential for another world financial meltdown, but they aren’t quite sure what to do
June 3, 2011
The exemption from SOX auditor attestation requirements for small businesses got most of the attention when the House Financial Services Committee approved the Investor Protection Act (H.R. 3817) Nov. 4. But the House bill also includes amendments to the authority of the Public Company Accounting Oversight Board.
June 3, 2011
The term of International Accounting Standards Board Chairman David Tweedie is set to expire in June 2011, which also happens to be the timeframe for the IASB and FASB to complete the massive amount of work they've undertaken to converge significant accounting guidance under the 2008 version of their memorandum of
June 3, 2011
Already this year,the FASB and IASB held a joint meeting by videoconference Jan. 5. Next week, they are set to meet Monday through Wednesday in London (Jan. 18 - 20), following up on their pledge to consider standards jointly as the more efficient approach to holding separate meetings.
June 3, 2011
Is there a shift in attitudes toward fair value financial reporting? Financial institutions continue to argue against fair value. But other perspectives are also being advanced. Researcher Sanders Shaffer from the Boston Fed's Quantitative Analysis Unit reported recently on his analysis of a sample of large
June 3, 2011
The change portended by the fresh U.S. accounting proposal on
financial instruments and its planned shift to recording loans and
many more items at fair value on balance sheets already appears to
be causing controversy in the standard-setting world, at
banks, and in seats of finance and government.
June 3, 2011
In a recent
letter to leaders of the G-20 nations, the International Accounting
Standards Board (IASB) and the Financial Accounting Standards
Board (FASB) outlined a modified accounting standards
convergence strategy. This modified convergence strategy retains a
June 2011 target completion date for conver