Financial and Accounting News

• 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 ...
• June 9, 2011 Accountancy Pay Levels up 3.11% on Year Permanent salaries in the accountancy sector are up 3.11% year-on-year, and pay levels for skilled candidates are on the rise according to the latest survey from recruiters Badenoch & Clark. Auditors’ ...
• June 3, 2011 IFRS Foundation Publishes Proposed IFRS Taxonomy Enhancements for Reporting Common-Practice The IFRS Foundation today published for public comment an exposure draft of the IFRS Taxonomy 2011 interim release: common-practice concepts.  The proposed interim release contains supplementary tags for the IFRS Taxonomy ...