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Happy New Year, Global Accounting
Though it's a little early for cork-popping, IASB chairman David Tweedie talks about what's ahead for global accounting — and offers resolutions geared to holding fast against political pressure in 2009. December 10, 2008
Banker: Volatility Is Reality
Newly appointed bank CEO Gerrit Zalm, who also chairs the trustees of the International Accounting Standards Board, says that the credit crisis is a regulatory problem, not an accounting one. December 5, 2008
G-20 Verdict on Fair Value: Innocent
The world's top finance ministers say that excessive risk-taking and sloppy judgments caused the crisis. November 17, 2008
IFRS Requires a Soft Touch
If American companies plan on moving to IFRS, their financial statement preparers will require less technical training and more instruction on "soft skills." November 17, 2008
Wrinkles in the IFRS Roadmap
The SEC wants some of the largest U.S. companies to adopt international rules early, but limitations and uncertainty in its plan could diminish those hopes. November 17, 2008
SEC: Early IFRS Adoption Will Cost Firms $32M
The regulator releases its roadmap for transitioning U.S. companies to international accounting rules, and estimates the costs. November 17, 2008
Revised Fair-Value Rule Is Weaker: Moody's
It's harder for investors to compare banks' financial statements now that IAS 39 lets them decide whether to reclassify "held for sale" assets as "held to maturity," the rating agency says. November 14, 2008
"Spineless?" UK Pressure Targets Fair Value Weakening
IASB's independence is questioned at a Parliamentary hearing today, as politicians look to soften mark-to-market accounting. November 11, 2008
IFRS Back on Track?
The SEC is expected to publish its timetable for switching from GAAP to IFRS on Friday. But the plan, first proposed in August, will be released into a radically different economic and political environment. November 6, 2008
Will a Single Accounting Standard Help?
Standard-setters are keen on driving the world toward a single set of rules, but Moody's contends that reporting in IFRS doesn't necessarily help comparability. November 6, 2008