http://www.acumenglobaltraining.com/ Acumen Global Training RSS2.0 Feed Thu, 09 Sep 2010 21:13:37 -0400 en-us 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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 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. 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. 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). 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. 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. 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. 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. 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. 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 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. 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. 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. 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. 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. 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 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. 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 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. 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.