FASB, IASB Concede They Won't Meet June 30 Target Date; Decisions Loom

As chief U.S. and international rulemakers in accounting formally conceded April 21 that they will not meet a long-stated joint June 30 timetable for key projects, the standard-setters also face looming decisions on whether they will have to “re-expose” important proposals that they changed in recent months.