Financial and Accounting News

• June 23, 2011 SME Implementation: Q&A Guidance The SME Implementation Group, responsible for assisting the International Accounting Standards Board (IASB) on matters related to the implementation of the International Financial Reporting Standard for Small and ...
• June 22, 2011 IASB Publishes Proposals for Amendments Under its Annual Improvements Project The International Accounting Standards Board (IASB) today published for public comment an exposure draft of proposed amendments to five International Financial Reporting Standards (IFRSs) under its annual improvements ...
• June 21, 2011 Businesses Avoid Cloud Accounting The migration of accounting applications to a cloud computing model is being avoided by businesses due to concerns over security and data ownership. Four out of ten companies already use the cloud for some business ...
• June 17, 2011 FASB Issues Accounting Standards Update to Improve Presentation of Comprehensive Income The Financial Accounting Standards Board (FASB) today issued Accounting Standards Update (ASU) No. 2011-05 Comprehensive Income (Topic 220): Presentation of Comprehensive Income. The Update is intended to increase the ...
• June 17, 2011 IASB Introduces Improvements to the Accounting for Post-Employment Benefits The International Accounting Standards Board (IASB) announced today the completion of its project to improve the accounting for pensions and other post-employment benefits by issuing an amended version of IAS 19 Employee ...
• June 17, 2011 IASB and FASB Align Presentation Requirements for Other Comprehensive Income The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB), the US national standard-setter, issued today amendments that will improve and align the presentation of items of ...
• June 15, 2011 FASB Launches New Taxonomy Online Review and Comment System Norwalk, CT, June 14, 2011—The Financial Accounting Standards Board (FASB) recently launched a new system that provides greater transparency for users of eXtensible Business Reporting Language (XBRL) and makes it ...
• June 14, 2011 IASB, Japanese Board Provide Update on Standards Convergence The leaders of the International Accounting Standards Board (IASB) and the Accounting Standards Board of Japan (ASBJ) pledged to deepen their cooperation in preparation for a decision expected in 2012 on the mandatory ...
• June 10, 2011 Third Phase of XBRL Implementation Takes Effect June 15 The third phase of the SEC’s XBRL implementation program takes effect June 15, with nearly all public companies using U.S. GAAP now required to submit data in the fully searchable, digital format. Over the past two ...
• June 9, 2011 A Driving Wind for IFRS from Asia-Oceania The Asian-Oceanian Standard-Setters Group (AOSSG) has published today "A Vision Paper of the Asian-Oceanian Standard-Setters Group 2011 – A Driving Wind for IFRS from Asia-Oceania". The paper describes ...