CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. Related Stories

Financial Accounting Standards Board (FASB) News




Banks Need Bespoke Accounting Rules, BoE Says

by Jason Gorringe, Tax-News.com, London

Wednesday, January 25, 2012

Andrew Haldane, the Executive Director for Financial Stability at the Bank of England, has called for a rethink of reporting requirements for the banking industry, due to inconsistencies in how banking assets are quantified when the market value is unknown. Read Full Story

 


GAAP Accounting Change Positive For Banking Investors

by Glen Shapiro, LawAndTax-News.com, New York

Thursday, January 5, 2012

Fitch credit ratings agency has said a new accounting rule change, requiring banks to book losses on loans sooner, will have a gradual positive affect on US bank income statements with the effect of insulating investors from risk. Read Full Story

 


FASB Defers Income Reclassification Reporting Requirements

by Mike Godfrey, Tax-News.com, Washington

Wednesday, December 28, 2011

The United States accounting standards setter, the Financial Accounting Standards Board has announced an update that will defer the specific requirements on the separate presentation of items which have been reclassified from accumulated other comprehensive income to net income. A previous update proposed to make mandatory the separate reporting of the respective components of net income and comprehensive income in relation to these items. Read Full Story

 


Foundation Warns Against Lease Accounting Proposals

by Mike Godfrey, Tax-News.com, Washington

Thursday, December 15, 2011

The Equipment Leasing and Finance Foundation has warned against proposed amendments to financial reporting requirements for leasing transactions, which it says could cost the US economy USD10bn in lost GDP and 60,000 less jobs by 2016. Read Full Story

 


Boards Consult On Revenue Recognition Standard

by Glen Shapiro, LawAndTax-News.com, New York

Friday, November 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. Read Full Story

 


FAF Sets Out Convergence Agenda

by Glen Shapiro, LawAndTax-News.com, New York

Thursday, November 17, 2011

The Financial Accounting Foundation, which oversees the United States accounting standards setter the Financial Accounting Standards Board, has generally backed the Securities and Exchange Commission's proposed approach to converging United States Generally-Accepted Accounting Principles standards with International Financial Reporting Standards. Read Full Story

 


AICPA Pushes For Private Company Standard Setter

by Glen Shapiro, LawAndTax-News.com, New York

Friday, October 21, 2011

The American Institute of Certified Public Accountants on October 18, 2011 approved an ultimatum to the Financial Accounting Foundation, which warns that either the Foundation must adopt recommendations for the establishment of an independent accounting standards setter for private companies - without the power of veto being granted to the Financial Accounting Standards Board - or AICPA will consider other options to achieve the objective independently. Read Full Story

 


FAF Rejects 'Little GAAP' For US Private Companies

by Glen Shapiro, LawAndTax-News.com, New York

Friday, October 7, 2011

A new body, with the authority to identify standards that require modification and to vote on specific proposed exceptions or modifications to United States Generally Accepted Accounting Principles for private companies, is the centrepiece of a plan released for public comment by the Financial Accounting Foundation. Read Full Story

 


IFRS 9 Deferred As Convergence Talks Sour

by Amanda Banks, Tax-News.com, London

Tuesday, August 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. Read Full Story

 


IASB Chair Urges US Adoption Of IFRS

by Glen Shapiro, LawAndTax-News.com, New York

Wednesday, March 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. Read Full Story

 

 

Page 2

 
















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »