Acumen Global Training RSS 2.0 Feed http://www.acumenglobaltraining.com/ Acumen Global Training RSS2.0 Feed Sun, 05 Feb 2012 16:51:48 -0500 en-us SEC Action on IFRS could come early in 2010 http://www.journalofaccountancy.com/Web/20092412.htm http://www.journalofaccountancy.com/Web/20092412.htm Tue, 22 Dec 2009 13:41:37 +0100 SEC Commissioner Elisse B. Walter on Wednesday said she expects the commission to consider further action on IFRS adoption early next year. Global Standards Alive and Kicking, SEC Accounting Chief Says http://www.cfo.com/article.cfm/14440802/c_14440606?f=home_todayinfinance http://www.cfo.com/article.cfm/14440802/c_14440606?f=home_todayinfinance Tue, 22 Dec 2009 14:37:40 +0100 Rather than sidetracking international financial reporting standards, the economic crisis may have underscored their importance, Kroeker says. SEC to refocus on IFRS roadmap - official http://www.reuters.com/article/idUSTRE58G4BJ20090917 http://www.reuters.com/article/idUSTRE58G4BJ20090917 Tue, 22 Dec 2009 14:43:59 +0100 The U.S. Securities and Exchange Commission will make it a priority in the coming months to refocus on a proposed roadmap to move U.S. companies to international accounting standards, a top agency official said on Thursday. Schapiro Says SEC Will Discuss Transition To IFRS This Fall http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=200909181521dowjonesdjonline000570&title=schapiro-says-sec-will-discuss-transition-to-ifrs-this-fall http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=200909181521dowjonesdjonline000570&title=schapiro-says-sec-will-discuss-transition-to-ifrs-this-fall Tue, 22 Dec 2009 14:44:57 +0100 Securities and Exchange Commission Chairman Mary Schapiro said Friday that this fall she expects the agency to address its \" expectations\" for the potential future adoption of a set of global accounting standards. Achieve Single Set of Global Accounting Standards by June 2011 http://www.journalofaccountancy.com/Web/20092188.htm http://www.journalofaccountancy.com/Web/20092188.htm Tue, 22 Dec 2009 14:45:52 +0100 In an agreement reached Friday to make dozens of changes to the regulation of financial markets, systems and institutions, the leaders of the G-20 called on international accounting bodies to redouble their efforts to achieve a single set of high quality, global accounting standards within the context of their independent standard setting process, and complete their convergence project by June 2011. Companies Want SEC to Approve IFRS Roadmap http://www.webcpa.com/news/Companies-Want-SEC-Approve-IFRS-Roadmap-51991-1.html http://www.webcpa.com/news/Companies-Want-SEC-Approve-IFRS-Roadmap-51991-1.html Tue, 22 Dec 2009 14:46:49 +0100 Seventy percent of CFOs and other finance professionals support approval of the Securities and Exchange Commissions roadmap for adopting International Financial Reporting Standards, according to a new survey by Deloitte. IFRS Survey Results 2009 http://www.deloitte.com/us/ifrs/results2009update http://www.deloitte.com/us/ifrs/results2009update Tue, 22 Dec 2009 14:47:35 +0100 Almost 90% of respondents view IFRS conversion to be highly or somewhat likely to become mandatory in the U.S. IASC Foundation publishes 2010 architecture for the IFRS and IFRS for SMEs Taxonomies http://www.iasb.org/News/XBRL/IASC+Foundation+publishes+2010+architecture+for+the+IFRS+and+IFRS+for+SMEs+Taxonomies.htm http://www.iasb.org/News/XBRL/IASC+Foundation+publishes+2010+architecture+for+the+IFRS+and+IFRS+for+SMEs+Taxonomies.htm Tue, 22 Dec 2009 15:00:54 +0100 The International Accounting Standards Committee (IASC) Foundation today published The IFRS Taxonomy 2010 Architecture Draft for public comment. It also published a project summary and feedback statement on Architectural improvements to the IFRS Taxonomy. The feedback statement summarises the architectural improvements that will be implemented in the next release of the IFRS Taxonomy in 2010 as a result of consultations in July 2009. Supreme Court Questions PCAOB's Constitutionality WASHINGTON, D.C. http://www.webcpa.com/news/Supreme-Court-Questions-PCAOB-Constitutionality-52678-1.html?ET=webcpa:e609:135036a:&st=email http://www.webcpa.com/news/Supreme-Court-Questions-PCAOB-Constitutionality-52678-1.html?ET=webcpa:e609:135036a:&st=email Tue, 22 Dec 2009 15:07:01 +0100 The U.S. Supreme Court heard oral arguments in a lawsuit challenging the constitutionality of the Public Company Accounting Oversight Board, with several justices appearing to take the plaintiffs side in the case. Lessons from the initial XBRL submissions http://www.iasplus.com/usa/headsup/headsup0912xbrl.pdf http://www.iasplus.com/usa/headsup/headsup0912xbrl.pdf Tue, 22 Dec 2009 15:22:03 +0100 Since the SEC rules requiring submission of interactive data files in certain filings1 became effective, over 1,000 interactive data (XBRL2) exhibits (or interactive data files) have been submitted by registrants (or filers) in the first phase-in group under the SEC rules. IASB issues minor amendment to pensions accounting and proposes consequential change for first-time adoption of IFRSs http://www.iasb.org/News/Press+Releases/IASB+issues+minor+amendment+to+pensions+accounting+and+proposes+consequential+change+for+first-time.htm http://www.iasb.org/News/Press+Releases/IASB+issues+minor+amendment+to+pensions+accounting+and+proposes+consequential+change+for+first-time.htm Tue, 22 Dec 2009 15:23:11 +0100 The International Accounting Standards Board (IASB) today issued a minor amendment to its requirements on accounting for pension plans, and separately published for public comment a proposal to amend IFRS 1 First-time Adoption of International Financial Reporting Standards. SEC's Casey: Accounting convergence must continue http://www.reuters.com/article/idUSN174752520091117 http://www.reuters.com/article/idUSN174752520091117 Tue, 22 Dec 2009 15:24:17 +0100 U.S. and international accounting rulemakers must continue to get support for development of a single set of high quality global accounting standards, a top U.S. securities regulator said on Tuesday. IASB completes first phase of financial instruments accounting reform http://www.iasb.org/News/Press+Releases/IASB+completes+first+phase+of+financial+instruments+accounting+reform.htm http://www.iasb.org/News/Press+Releases/IASB+completes+first+phase+of+financial+instruments+accounting+reform.htm Tue, 22 Dec 2009 15:24:51 +0100 The International Accounting Standards Board (IASB) issued today a new International Financial Reporting Standard (IFRS) on the classification and measurement of financial assets. Publication of the IFRS represents the completion of the first part of a three-part project to replace IAS 39 Financial Instruments: Recognition and Measurement with a new standard - IFRS 9 Financial Instruments. Proposals addressing the second part, the impairment methodology for financial assets were published for public comment IASB and FASB Reaffirm Commitment to Memorandum of Understanding http://www.iasb.org/News/Press+Releases/IASB+and+FASB+Reaffirm+Commitment+to+Memorandum+of+Understanding.htm http://www.iasb.org/News/Press+Releases/IASB+and+FASB+Reaffirm+Commitment+to+Memorandum+of+Understanding.htm Tue, 22 Dec 2009 15:26:00 +0100 At their joint meeting last week, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) reaffirmed their commitment to improve International Financial Reporting Standards (IFRS) and U.S. generally accepted accounting principles (U.S. GAAP) and to bring about their convergence. The Boards also agreed to intensify their efforts to complete the major joint projects described in their 2006 Memorandum of Understanding (MoU), as updated in 2008. IASB amends the accounting for rights issues http://www.iasb.org/News/Press+Releases/IASB+amends+the+accounting+for+rights+issues.htm http://www.iasb.org/News/Press+Releases/IASB+amends+the+accounting+for+rights+issues.htm Tue, 22 Dec 2009 15:28:20 +0100 The International Accounting Standards Board (IASB) issued today an amendment to IAS 32 Financial Instruments: Presentation. Proposed Roadmap to move U.S. companies to international accounting standards (IFRS) http://www.sec.gov/spotlight/ifrsroadmap.htm http://www.sec.gov/spotlight/ifrsroadmap.htm Sun, 03 Jan 2010 13:00:12 +0100 The U.S. Securities and Exchange Commission (SEC) will make it a priority in the coming months to refocus on a proposed Roadmap to move U.S. companies to international accounting standards (IFRS). WebCPA -IPSASB Has Substantially Converged with IFRS http://www.webcpa.com/news/IPSASB-Has-Substantially-Converged-IFRS-52791-1.html http://www.webcpa.com/news/IPSASB-Has-Substantially-Converged-IFRS-52791-1.html Sun, 03 Jan 2010 13:06:55 +0100 The International Public Sector Accounting Standards Board said it has achieved its goal of substantial convergence with International Financial Reporting Standards dated Dec. 31, 2008, with a series of new or improved standards. Getting to IFRS: Those Who Have Been There Have Plenty of Advice http://ifrs.com/advice.html http://ifrs.com/advice.html Sun, 03 Jan 2010 13:11:51 +0100 When asked for their advice on how companies should be preparing for the possibility of mandated IFRS adoption in the U.S., three international financial executives kept returning to a few common themes. \"Start now, treat it as an opportunity, and make sure your entire organization is invested in the change,\" suggested Margaret M. Smyth, Vice President, Controller of United Technologies Corporation (UTC), a $53 billion manufacturer of everything from elevators to helicopters. Best of 2009: Accounting http://www.cfo.com/article.cfm/14464184/1/c_14465054?f=home_todayinfinance http://www.cfo.com/article.cfm/14464184/1/c_14465054?f=home_todayinfinance Sun, 03 Jan 2010 13:14:29 +0100 At this time next year we may be bidding a fond farewell to U.S. generally accepted accounting principles or we may not. Regulators are still undecided about whether to require U.S. companies to abandon U.S. GAAP in favor of international financial reporting standards. But advocates and opponents of the switch came up with forceful arguments for their positions in 2009, as reported in several of the accounting stories listed below. IASB welcomes decision by Japanese FSA to permit domestic use of IFRSs for current financial year http://www.iasb.org/News/Press+Releases/IASB+welcomes+decision+by+Japanese+FSA+to+permit+domestic+use+of+IFRSs+for+current+financial+year.htm http://www.iasb.org/News/Press+Releases/IASB+welcomes+decision+by+Japanese+FSA+to+permit+domestic+use+of+IFRSs+for+current+financial+year.htm Sun, 03 Jan 2010 13:16:37 +0100 The International Accounting Standards Board (IASB) welcomes the recent regulatory changes announced by the Japan Financial Services Agency (FSA) on 11 December 2009. The changes establish an operational framework for the voluntary application of International Financial Reporting Standards (IFRSs) in Japan, starting from the fiscal year ending on or after 31 March 2010 and represent an important step towards the adoption of IFRSs in Japan. More Companies Preparing for XBRL Adoption http://www.webcpa.com/news/More-Companies-Preparing-XBRL-Adoption-53018-1.html http://www.webcpa.com/news/More-Companies-Preparing-XBRL-Adoption-53018-1.html Sun, 24 Jan 2010 11:41:18 +0100 Many companies are getting a jump on preparing for adoption of interactive data-tagging technology on their financial statements, even before they are subject to SEC requirements. Businesses now have cutting edge resource to stay current with international accounting http://www.acumenglobaltraining.com/press-release-20100207.php http://www.acumenglobaltraining.com/press-release-20100207.php Sun, 07 Feb 2010 17:28:23 +0100 Acumen Global Training Press Release Febuary 2010 SEC Reaffirms Support for Single Set of Global Accounting Standards - IFRS as Best Option http://cfodirect.pwc.com/CFODirectWeb/Controller.jpf?ContentCode=THUG-82YJYG&SecNavCode=ASPP-5SLM5R&ContentType=Content http://cfodirect.pwc.com/CFODirectWeb/Controller.jpf?ContentCode=THUG-82YJYG&SecNavCode=ASPP-5SLM5R&ContentType=Content Mon, 01 Mar 2010 06:44:46 +0100 Today the Securities and Exchange Commission (SEC) held an open meeting to advance the dialogue on the role of International Financial Reporting Standards (IFRS) in the U.S. financial reporting system. The Second Bookkeepers Congress 2010 http://www.acumenglobaltraining.com/BookKeepersCongress2010.php http://www.acumenglobaltraining.com/BookKeepersCongress2010.php Sun, 14 Mar 2010 07:25:04 +0100 Join the biggest, most comprehensive and pioneer event for Bookkeepers this year – the 2nd Philippine Bookkeepers Congress 2010 at the SMX Convention Center, Pasay City on May 6-7, 2010. Lehman case "backs" accounting convergence http://uk.reuters.com/article/idUKTRE63S2EZ20100429 http://uk.reuters.com/article/idUKTRE63S2EZ20100429 Fri, 14 May 2010 05:34:41 +0100 (Reuters) - The use by Lehman Brothers bank of a U.S. accounting device to strengthen its balance sheet would not have worked under global accounting rules, a top industry official told the Reuters Global Financial Regulation Summit on Thursday. A Smoother Approach to Pension Accounting http://cfo.com/article.cfm/14495869/c_14495857?f=home_todayinfinance http://cfo.com/article.cfm/14495869/c_14495857?f=home_todayinfinance Fri, 14 May 2010 05:34:41 +0100 The IASB's proposed rules for pension accounting could dampen the effect of asset gains and losses on the bottom line. IFRS Delay Helps Some Companies http://www.webcpa.com/debits_credits/IFRS-Delay-Helps-Some-Companies-54041-1.html http://www.webcpa.com/debits_credits/IFRS-Delay-Helps-Some-Companies-54041-1.html Fri, 14 May 2010 05:36:29 +0100 The uncertain state of U.S. adoption of International Financial Reporting Standards could be helping a number of companies by giving them extra time to make the adjustment. Tweedie’s third way could help bridge the rules gap http://www.accountancyage.com/accountancyage/news/2264880/tweedie-third-way-help-bridge http://www.accountancyage.com/accountancyage/news/2264880/tweedie-third-way-help-bridge Sun, 20 Jun 2010 11:29:25 +0100 IASB unveils "Tweedie model" to reconcile US and international accounting standards SEC Approves Statement on Global Accounting Standards http://www.sec.gov/news/press/2010/2010-27.htm http://www.sec.gov/news/press/2010/2010-27.htm Sun, 20 Jun 2010 11:36:24 +0100 Securities and Exchange Commission today voted to issue a statement that lays out its position regarding global accounting standards and makes clear that the Commission continues to believe that a single set of high-quality globally accepted accounting standards would benefit U.S investors. SEC Looking for Feedback on IFRS Plan http://www.journalofaccountancy.com/Web/20103209.htm http://www.journalofaccountancy.com/Web/20103209.htm Wed, 18 Aug 2010 05:30:01 +0100 The SEC is calling for comments on certain aspects of its IFRS work plan. In one release Thursday, the SEC asked for feedback regarding investor knowledge of the international accounting standards and what it might take–in time and logistics–to improve investor understanding of IFRS. Wed, 18 Aug 2010 05:30:01 +0100 Tweedie warns US to adopt standards or lose influence http://www.accountancyage.com/accountancyage/news/2267956/tweedie-warns-adopt-standards http://www.accountancyage.com/accountancyage/news/2267956/tweedie-warns-adopt-standards Wed, 18 Aug 2010 05:32:01 +0100 The US could be stripped of any influence over global financial rules if it does not adopt them itself, the head of the international accounting standard setter has warned. Convergence Milestone http://www.journalofaccountancy.com/Issues/2010/Aug/20103021 http://www.journalofaccountancy.com/Issues/2010/Aug/20103021 Wed, 18 Aug 2010 05:35:01 +0100 FASB and the IASB wrapped up the first of three rounds of issuing proposed standards in their final push toward U.S. GAAP-IFRS convergence, even as they gave themselves an extra six months to complete the ambitious project. Debunking IFRS Myths http://www.cfo.com/article.cfm/14525731/ http://www.cfo.com/article.cfm/14525731/ Mon, 01 Nov 2010 13:08:25 +0100 Since 2008, the Financial Accounting Standards Board and the International Accounting Standards Board have been working to converge U.S. generally accepted accounting principles and international financial reporting standards. As expected, the project has sparked controversies — particularly in the United States, where many preparers believe U.S. GAAP is the gold standard of accounting rules and should remain intact. India May Dilute IFRS http://www.webcpa.com/news/India-Dilute-IFRS-56097-1.html?ET=webcpa:e1099:155831a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=WebCPA_Daily_102810 http://www.webcpa.com/news/India-Dilute-IFRS-56097-1.html?ET=webcpa:e1099:155831a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=WebCPA_Daily_102810 Mon, 01 Nov 2010 13:10:00 +0100 India is scheduled to begin using International Financial Reporting Standards in less than six months, but the country may be making several key changes in the standards prior to the rollout. SEC Releases Update on IFRS Plan http://www.journalofaccountancy.com/Web/20103499.htm http://www.journalofaccountancy.com/Web/20103499.htm Mon, 01 Nov 2010 13:11:03 +0100 In a progress report released Friday, the SEC staff details its progress thus far and remaining research and analysis to be done as the Commission considers whether, when and how to allow domestic issuers in the U.S. to use IFRS. Firms Not Prepared for Increased Risk Analytics Demands http://www.wallstreetandtech.com/financial-risk-management/227600161 http://www.wallstreetandtech.com/financial-risk-management/227600161 Mon, 01 Nov 2010 13:13:33 +0100 Although the financial services industry has been collectively enhancing and expanding its business and risk analytics capabilities since the financial crisis began, most financial services professionals do not feel that their firms are prepared to handle the growing needs for in-depth business and risk analytics. IASB Not Waiting for FASB http://www.webcpa.com/news/IASB-Not-Waiting-FASB-52087-1.html http://www.webcpa.com/news/IASB-Not-Waiting-FASB-52087-1.html Mon, 01 Nov 2010 13:29:39 +0100 International Accounting Standards Board chairman Sir David Tweedie said he won’t wait for the board’s U.S. counterpart to finalize its own revisions to fair value accounting for financial instruments. SEC Issues Progress Report on IFRS Work Plan http://www.webcpa.com/news/SEC-Issues-Progress-Report-IFRS-Work-Plan-56127-1.html?ET=webcpa:e1104:155831a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=WebCPA_Daily_110110 http://www.webcpa.com/news/SEC-Issues-Progress-Report-IFRS-Work-Plan-56127-1.html?ET=webcpa:e1104:155831a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=WebCPA_Daily_110110 Mon, 01 Nov 2010 13:31:15 +0100 The Securities and Exchange Commission has published its first progress report on the work plan related to the move to global accounting standards. PCAOB Shows Audit Inspections to Foreign Reps http://www.accountingtoday.com/news/PCAOB-Shows-Audit-Inspections-Foreign-Reps-56311-1.html?ET=webcpa:e1126:155831a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=WebCPA_Daily_111410 http://www.accountingtoday.com/news/PCAOB-Shows-Audit-Inspections-Foreign-Reps-56311-1.html?ET=webcpa:e1126:155831a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=WebCPA_Daily_111410 Fri, 19 Nov 2010 09:28:20 +0100 The Public Company Accounting Oversight Board presented an interactive session on inspection case studies at its fourth annual International Auditor Regulatory Institute. XBRL US Names New President and CEO http://www.accountingtoday.com/news/XBRL-US-Names-President-CEO-56204-1.html http://www.accountingtoday.com/news/XBRL-US-Names-President-CEO-56204-1.html Tue, 16 Nov 2010 15:32:03 +0100 XBRL US has appointed Campbell Pryde as its new president and CEO. 'Tragic consequences' if IFRS fails http://www.gfsnews.com/article/594/1/_Tragic_consequences__if_IFRS_fails http://www.gfsnews.com/article/594/1/_Tragic_consequences__if_IFRS_fails Tue, 04 Jan 2011 04:30:16 +0100 International Financial Reporting Standards Foundation trustee Harvey Goldschmid has claimed that the goal of implementing a single set of high quality global accounting standards hinges on the US Securities and Exchange Commission adopting IFRS standards in 2011. New survey says U.S. faculty think more time should be spent teaching IFRS http://www.accountingtoday.com/acto_blog/-56618-1.html http://www.accountingtoday.com/acto_blog/-56618-1.html Tue, 04 Jan 2011 04:31:02 +0100 Faculty at colleges and universities nationwide say U.S. educators should spend more time teaching global accounting standards, if they don't want their students to be at a disadvantage in the global marketplace, according to a new survey by the American Accounting Association and KPMG LLP. Moody's: Canadian IFRS Unlikely to Affect Credit Ratings http://www.accountingtoday.com/news/-56679-1.html http://www.accountingtoday.com/news/-56679-1.html Tue, 04 Jan 2011 04:33:29 +0100 Canada's transition to International Financial Reporting Standards, while improving transparency and comparability of Canadian companies, will likely not affect credit ratings, according to a new report from Moody's Investor Service. IASB Amends Income Tax, IFRS Adoption Rules http://www.journalofaccountancy.com/Web/20103676.htm http://www.journalofaccountancy.com/Web/20103676.htm Tue, 04 Jan 2011 04:34:51 +0100 The International Accounting Standards Board (IASB) on Monday issued amendments to IAS 12, Income Taxes, and what it called “narrow amendments” to IFRS 1, First-time Adoption of International Financial Reporting Standards. Seidman Named FASB Chairman http://www.journalofaccountancy.com/Web/20103700.htm http://www.journalofaccountancy.com/Web/20103700.htm Tue, 04 Jan 2011 04:36:04 +0100 Leslie F. Seidman on Thursday was appointed chairman of FASB, effective immediately. U.S. accounting board names technical director http://www.reuters.com/article/idUSN1027489220110110 http://www.reuters.com/article/idUSN1027489220110110 Mon, 17 Jan 2011 14:02:27 +0100 Jan 10 (Reuters) - The board that sets accounting rules for U.S. companies said it has named a former PricewaterhouseCoopers LLP partner as technical director to oversee staff work on new accounting standards. Agreement reached on accounting for losses on bank loans http://www.accountancyage.com/aa/news/1937184/agreement-reached-accounting-losses-bank-loans http://www.accountancyage.com/aa/news/1937184/agreement-reached-accounting-losses-bank-loans Mon, 17 Jan 2011 14:05:32 +0100 S AND INTERNATIONAL standard setters yesterday revealed they have agreed a single approach to the way banks account for losses on loans, one of the most controversial issues to emerge from the financial crisis. U.S. accounting board names technical director http://www.reuters.com/article/2011/01/10/fasb-appointment-idUSN1027489220110110 http://www.reuters.com/article/2011/01/10/fasb-appointment-idUSN1027489220110110 Mon, 31 Jan 2011 01:51:14 +0100 The board that sets accounting rules for U.S. companies said it has named a former PricewaterhouseCoopers LLP partner as technical director to oversee staff work on new accounting standards. US audit watchdog gains access to UK auditors http://www.accountancyage.com/aa/news/1935937/audit-watchdog-gains-access-uk-auditors http://www.accountancyage.com/aa/news/1935937/audit-watchdog-gains-access-uk-auditors Mon, 31 Jan 2011 01:52:40 +0100 THE US AUDIT WATCHDOG will be allowed to inspect UK firms who represent companies on the US markets, in a groundbreaking deal. Read more: http://www.accountancyage.com/aa/news/1935937/audit-watchdog-gains-access-uk-auditors#ixzz1CaqZh0BH Accountancy Age - Finance, business and accountancy news, features and resources. Claim your free subscription today. Agreement reached on accounting for losses on bank loans http://www.accountancyage.com/aa/news/1937184/agreement-reached-accounting-losses-bank-loans http://www.accountancyage.com/aa/news/1937184/agreement-reached-accounting-losses-bank-loans Mon, 31 Jan 2011 01:53:48 +0100 US AND INTERNATIONAL standard setters yesterday revealed they have agreed a single approach to the way banks account for losses on loans, one of the most controversial issues to emerge from the financial crisis. Read more: http://www.accountancyage.com/aa/news/1937184/agreement-reached-accounting-losses-bank-loans#ixzz1CaqxNw00 Accountancy Age - Finance, business and accountancy news, features and resources. Claim your free subscription today. Retreat on Marking To Market http://online.wsj.com/article/SB10001424052748704013604576104012708309774.html?mod=dist_smartbrief http://online.wsj.com/article/SB10001424052748704013604576104012708309774.html?mod=dist_smartbrief Mon, 31 Jan 2011 01:55:19 +0100 Accounting rule makers, bowing to an intense lobbying campaign, took a key step Tuesday to reverse a controversial proposal that would have required banks to use market prices rather than cost in order to value the loans they hold on their balance sheets. Compromise Reached for Financial Instruments; Revenue Recognition and Leases Less Certain http://www.journalofaccountancy.com/Web/20113797.htm http://www.journalofaccountancy.com/Web/20113797.htm Mon, 31 Jan 2011 01:56:34 +0100 FASB Chairman Leslie Seidman said Tuesday via webcast that FASB and the International Accounting Standards Board (IASB) have reached a compromise on a single approach to impairment for financial instruments. PCAOB Set to Expand Under New Mandates http://www.journalofaccountancy.com/Issues/2011/Jul/20113954.htm http://www.journalofaccountancy.com/Issues/2011/Jul/20113954.htm Wed, 29 Jun 2011 12:59:50 +0100 PCAOB Chairman James R. Doty sees the audit profession as being at a turning point, not just in the U.S., but globally. Accountants of the World Unite!: Business Class http://www.bloomberg.com/news/2011-06-24/accountants-of-the-world-unite-business-class.html http://www.bloomberg.com/news/2011-06-24/accountants-of-the-world-unite-business-class.html Wed, 29 Jun 2011 13:02:29 +0100 The debate over whether the U.S. should abandon its long-standing accounting standards and adopt international rules that are used by most other countries often misses an important point. AICPA Survey Tracks IFRS Readiness http://www.journalofaccountancy.com/Web/20114172.htm http://www.journalofaccountancy.com/Web/20114172.htm Wed, 29 Jun 2011 13:04:30 +0100 The large majority of CPAs in the United States have some knowledge of IFRS—the emerging, globally accepted set of accounting rules, according to a recent AICPA survey. New IMF head Christine Lagarde faces immediate crisis in Greece http://www.washingtonpost.com/business/economy/new-imf-head-christine-lagarde-faces-immediate-crisis-in-greece/2011/06/28/AGnCyupH_story.html http://www.washingtonpost.com/business/economy/new-imf-head-christine-lagarde-faces-immediate-crisis-in-greece/2011/06/28/AGnCyupH_story.html Wed, 29 Jun 2011 13:07:36 +0100 French Finance Minister Christine Lagarde on Tuesday became the first woman and the first non-economist appointed to head the International Monetary Fund, an agency that is facing some of its deepest challenges since its founding 66 years ago. U.S. Firms Clash Over Accounting Rules http://online.wsj.com/article/SB10001424052702303982504576428091153200076.html?mod=dist_smartbrief http://online.wsj.com/article/SB10001424052702303982504576428091153200076.html?mod=dist_smartbrief Tue, 19 Jul 2011 15:27:34 +0100 Ford Motor Co. has a special room for it. It isn't a new hybrid car. The auto maker is preparing for a possible switch by U.S. companies to a new set of accounting rules already used in most of the rest of the world. REFILE-IASB 'on way' to being global accounting standard http://www.reuters.com/article/2011/07/14/accounting-idUSL6E7IE1KH20110714 http://www.reuters.com/article/2011/07/14/accounting-idUSL6E7IE1KH20110714 Tue, 19 Jul 2011 15:29:53 +0100 A top accounting rules setter said on Thursday it was well on the way to becoming the global standard in a veiled hint that the United States should get on board or risk being isolated.