Some of the concerns about the converged lease accounting proposal can be fixed, International Accounting Standards Board (IASB) Chairman Hans Hoogervorst said. He described three changes the IASB and FASB might make to address concerns about implementation costs.
The IFRS Foundation will receive assistance for work on international convergence projects from its US counterpart, the Financial Accounting Foundation (FAF).
The UK Competition Commission announced that it will review its new audit market reform rules in order to consider the impact of an EU proposal that is close to being finalised.
Pay raises around the world are projected to decline in 2014 in most countries. Hay Group research shows a drop in raises in both emerging and developing markets.
US Securities and Exchange Commission Chairman Mary Jo White directed the commission’s staff to develop recommendations for updating the rules for what a company must disclose in its public filings.
Companies need to be ready to implement the new, converged revenue recognition standard that FASB and the International Accounting Standards Board are expected to approve this month. The changes may require the attention of personnel across multiple functions at companies.
Rulemaking duties related to federal legislation have prevented the US Securities and Exchange Commission (SEC) from devoting time to deciding on the future of IFRS in the United States, SEC Chief Accountant Paul Beswick said.
Narrow-scope amendments to IAS 27 proposed by the IASB would allow entities to use the equity method to account for investments in subsidiaries, joint ventures and associates in their separate (parent-only) financial statements.
Progress toward a converged financial reporting standard for revenue recognition continued Wednesday when the International Accounting Standards Board (IASB) indicated its intention to approve the standard.
New rules released by the International Accounting Standards Board (IASB) are designed to improve how hedge accounting activities are reflected in financial statements.
Companies need to move quickly, experts say, to consider how they will be affected by the new revenue recognition standard under development by FASB and the International Accounting Standards Board.
A financial reporting standard designed to increase global comparability of one of the most important items in financial statements is nearing completion after an important vote.
CFOs and finance departments may want to undergo a careful evaluation of their financial reporting systems and processes, experts say, now that the US Securities and Exchange Commission (SEC) is ramping up its scrutiny of accounting and auditing.
The US Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) made a significant change in a major project by adding a collectibility threshold to the converged financial reporting standard they are developing for revenue recognition.
