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Stories that are tagged 'International Accounting Standards Board (IASB)'

ASB Maps Out Future Of UK Financial Reporting
2/3/2012
The UK Accounting Standards Board of the Financial Reporting Council has published financial reporting exposure drafts 46 to 48 setting out revised proposals for the future of financial reporting in the UK and Republic of Ireland.
FASB, IASB Set Disclosure Requirements On Offsetting
12/23/2011
The International Accounting Standards Board and the Financial Accounting Standards Board on December 16, 2011, issued common disclosure requirements that are intended to help investors and other financial statement users to better assess the effect or potential effect of offsetting arrangements on a company’s financial position.
Accounting Failures 'Exacerbated Banking Crisis'
12/6/2011
A new report, assessing the causes of the global financial crisis, claims that shortcomings in the accounting standards issued by the International Accounting Standards Board were a contributing factor to the instability experienced in the UK and Irish banking sectors, and subsequent taxpayer-funded bailouts.
Boards Consult On Revenue Recognition Standard
11/18/2011
The International Accounting Standards Board and the Financial Accounting Standards Board have released for public comment a revised draft standard to improve and converge the financial reporting requirements of International Financial Reporting Standards and US accounting standards for revenue (and some related costs) from contracts with customers.
IASB Proposes Standards For Investment Entities
8/31/2011
KPMG UK has welcomed proposals issued by the International Accounting Standards Board to encourage more investment funds to switch to International Financial Reporting Standards.
US Accountants Urge Optional IFRS Adoption
8/22/2011
Paul Stahlin and Barry Melancon, the Chairman and CEO, respectively, of the American Institute of Certified Public Accountants have, in a letter, recommended to the Securities and Exchange Commission that United States public companies should be allowed the option of adopting International Financial Reporting Standards.
IFRS 9 Deferred As Convergence Talks Sour
8/9/2011
The International Accounting Standards Board has announced its intention in an exposure draft to defer the mandatory adoption of the IFRS 9 standard until January 1, 2015, following disagreement on convergence with the US standards setter, the Financial Accounting Standards Board.
IASB Consults On Direction Of IFRS
7/28/2011
The International Accounting Standards Board has announced the launch of a public consultation to seek broad input on the strategic direction and overall balance of its future work programme.
Standard Setters Complete Fair Value Project
5/16/2011
The International Accounting Standards Board and the Financial Accounting Standards Board on May 12 issued new guidance on fair value measurement and disclosure requirements for International Financial Reporting Standards and US Generally Accepted Accounting Principles.
ICAS And NZICA Seek Reduced Disclosure Requirements
4/4/2011
The Institute of Chartered Accountants of Scotland and the New Zealand Institute of Chartered Accountants have launched a project with the aim of reducing the volume of disclosure requirements in International Financial Reporting Standards.
IASB Chair Urges US Adoption Of IFRS
3/16/2011
The outgoing Chairman of the International Accounting Standards Board has urged the United States to adopt International Financial Reporting Standards this year, rebuffing concerns that the international accounting rules will be subject to undue influence by foreign governments.
UK Car Leasing Association Wants Simplified Standards
12/24/2010
Accounting-standard setters need to simplify their proposals for leasing to achieve their goal of bringing more transparency to company accounts, claims the British Vehicle Rental and Leasing Association.
IASB Proposes Improvements To Hedge Accounting
12/10/2010
The International Accounting Standards Board on December 9 published for public comment an exposure draft on accounting for hedging activities.
SEC Progresses Work Plan For Global Accounting Standards
11/2/2010
The United States’ Securities and Exchange Commission has published its first progress report on the work plan aimed at providing the information needed to evaluate the implications of incorporating International Financial Reporting Standards into the financial reporting system for US securities’ issuers.
IASB Issues Guidance On Financial Liabilities
10/29/2010
The International Accounting Standards Board has issued guidance on accounting for financial liabilities to complete the classification and measurement phase of the project to replace IAS 39 Financial Instruments: Recognition and Measurement.
DFSA Signs MoU With Regional Standard-Setters
10/13/2010
The Dubai Financial Services Authority, the regulator of the Dubai International Financial Centre, on October 10 announced the signing of a Memorandum of Understanding with the Asian-Oceanian Standard-Setters Group, which took place in September.
IASB Enhances Financial Instrument Disclosure
10/11/2010
The International Accounting Standards Board, the independent standard-setting body of the IFRS Foundation, has issued amendments to IFRS 7 Financial Instruments: Disclosures as part of its comprehensive review of off balance sheet activities.
Standards Setters Deal With Hyperinflation
The International Accounting Standards Board has published for public comment an exposure draft entitled 'Severe Hyperinflation, a proposed amendment to IFRS 1' which covers first-time adoption of International Financial Reporting Standards.
IASB Consults On Deferred Tax
9/13/2010
The International Accounting Standards Board has published for public comment an exposure draft entitled Deferred Tax: Recovery of Underlying Assets.
IASB Proposes Amendments To IFRS Adoption Procedure
8/31/2010
The International Accounting Standards Board has published for public comment proposed amendments to procedures for first-time adoption of International Financial Reporting Standards.
UK Lease Association Concerned At IASB Proposals
8/23/2010
Proposals published by the International Accounting Standards Board, could mean that asset finance, the largest source of debt finance for UK businesses, will be more difficult to obtain, according to the UK Finance and Leasing Association.
Standard Setters Propose Lease Reporting Improvements
8/19/2010
The International Accounting Standards Board and the US Financial Accounting Standards Board have published for public comment joint proposals to improve the financial reporting of lease contracts.
IASB Proposes Improvements To Insurance Accounting
8/2/2010
The International Accounting Standards Board has published for public comment an exposure draft of improvements to accounting standards for insurance contracts.
IASB Decides On Tax Accounting
7/30/2010
The International Accounting Standards Board in London made tentative decisions on accounting for income tax at its sessions on July 19 - 23, 2010. The US Financial Accounting Standards Board joined some sessions.
FASB Issues Update On Receivables Disclosures
7/23/2010
The Financial Accounting Standards Board has issued an update regarding disclosures about the credit quality of financing receivables and the allowance for credit losses.
FASB Consults On Loss Contingencies
7/21/2010
In response to a perceived demand from investors for more information, the US Financial Accounting Standards Board has issued for consultation proposed amendments to the Contingencies Topic 450, which would retain the current qualitative disclosures and clarify certain loss contingencies by requiring additional disclosures.
IASB, FASB To Resolve Fair Value Differences
7/2/2010
US and International accounting standard setters are working to ensure that their respective fair value measurement standards will be nearly identical, but with 'style' differences.
IASB And FASB Propose New Standard
6/28/2010
The International Accounting Standards Board and the US Financial Accounting Standards Board have published for public comment a draft standard to improve and align the financial reporting of revenue from contracts with customers and related costs.
Accounting Standard Setters Shift Goalposts
6/4/2010
The international and US accounting standards boards have announced that they will be be unable to meet the June 2011 target date for the convergence of International Financial Reporting Standards with US Generally Accepted Accounting Principles.
Standard Setters Call For Public Input
6/1/2010
The International Accounting Standards Board and the US Financial Accounting Standards Board have published simultaneously for public comment proposals to improve the consistency of how items of Other Comprehensive Income are presented. In addition the US board is consulting on its latest accounting standard update for for financial instruments.
India Clarifies IFRS Convergence Issues
5/19/2010
The 'Core Group', constituted by the Indian Ministry of Corporate Affairs, to manage convergence of Indian Accounting Standards with the International Financial Reporting Standards from the year 2011, has published certain clarifications of earlier announcements about the changeover.
IASB Consults On Fair Value Aspects
5/13/2010
The International Accounting Standards Board has published for public comment its proposed changes to the standard for accounting for financial liabilities in an effort to respond to criticism about the 'counter-intuitive' effects of fair value accounting.
Standard Setters Discuss Disclosure
5/10/2010
The International Accounting Standards Board and the Financial Accounting Standards Board have discussed the overall disclosure principles, disclosures for consolidated subsidiaries, disclosures for unconsolidated structured entities and the disclosures related to investment companies at a joint board meeting.
Standard Setters Discuss Convergence In Japan
5/6/2010
The International Accounting Standards Board and the Accounting Standards Board of Japan have held their eleventh meeting to review preparations for the convergence with and intended adoption of International Financial Reporting Standards in Japan.
IASB Consults On Pensions Accounting
4/30/2010
The International Accounting Standards Board exposure draft of proposed amendments to IAS 19 Employee Benefits has been published to address a murky area of corporate profit and loss accounts. Chairman, Sir David Tweedie, described its release as 'long overdue.'
IASB Canvasses Opinions On Amortized Cost Measurement
4/27/2010
The International Accounting Standards Board has produced a questionnaire for financial statement users on amortized cost measurement and impairment of financial instruments.
Accounting Boards Seek Convergence
4/16/2010
On two major projects, financial instruments and insurance contracts, the US and International accounting standards bodies have reached different conclusions on some important technical issues. Addressing those differences in a way that promotes convergence could affect the project timetables.
IFRS For Extractive Industries Debated
4/9/2010
The International Accounting Standards Board has published a discussion paper, 'Extractive Activities,' which is already generating controversy about the level of disclosure that should be required of companies in mining and the oil and gas industry.
IASB Chairman Updates EU
3/18/2010
Sir David Tweedie, Chairman of the International Accounting Standards Board, has addressed a meeting of the Council of the European Union (Economic and Financial Affairs) on convergence and the classification and measurement of financial instruments.

 

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