ASB Maps Out Future Of UK Financial Reporting

by Jason Gorringe, Tax-News.com, London

Friday, February 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. Read Full Story

FASB, IASB Set Disclosure Requirements On Offsetting

by Mike Godfrey, Tax-News.com, Washington

Friday, December 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. Read Full Story

Accounting Failures 'Exacerbated Banking Crisis'

by Jason Gorringe, Tax-News.com, London

Tuesday, December 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. 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

IASB Proposes Standards For Investment Entities

by Amanda Banks, Tax-News.com, London

Wednesday, August 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. Read Full Story

US Accountants Urge Optional IFRS Adoption

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

Monday, August 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. 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 Consults On Direction Of IFRS

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, July 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. Read Full Story

Standard Setters Complete Fair Value Project

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

Monday, May 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. Read Full Story

ICAS And NZICA Seek Reduced Disclosure Requirements

by Mary Swire, Tax-News.com, Hong Kong

Monday, April 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. Read Full Story

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