Accounting standards

The International Accounting Standards Board has published a set of proposals for clarifying how entities classify debt, especially when it comes up for renewal.

Financial Executives International has sent a letter to the Financial Accounting Standards Board taking issue with FASB’s recent proposed changes in the accounting standards for income taxes.

India’s Ministry of Corporate Affairs has released a revised roadmap for implementation of Indian Accounting Standards as part of its effort to converge with International Financial Reporting Standards.

The Financial Accounting Standards Board has issued an exposure draft of two proposed accounting standards updates that would affect the accounting for income taxes for businesses.

The Financial Accounting Foundation has released its annually updated print edition of the Financial Accounting Standards Board’s FASB Accounting Standards Codification, providing the authoritative source of U.S. GAAP for public and private companies and not-for-profit organizations.

The International Auditing and Assurance Standards Board has issued proposals aimed at improving auditor reporting on special purpose financial statements.

Key challenges facing small- and medium-sized practices in the accounting industry worldwide have been identified as attracting new clients and complying with regulations and standards, according to a new survey by the International Federation of Accountants.

The Financial Accounting Standards Board is still in the process of deciding whether the revenue recognition standard that it converged last year with the International Accounting Standards Board should be delayed to allow more companies to adjust to it before the new rules take effect in 2017. But that doesn’t mean companies should wait in case there’s a postponement.

The International Auditing and Assurance Standards Board has released newly revised standards for overhauling auditor reports, with the goal of enhancing the auditor’s report for investors and other financial statement users.

Four of the International Federation of Accountants’ standard-setting boards are looking for new members with the right stuff.

James Schnurr, the recently appointed chief accountant at the Securities and Exchange Commission, had an intriguing suggestion recently: why not allow U.S. companies to use International Financial Reporting Standards on a voluntary basis as a supplement to their U.S. GAAP financial statements?

A roundup of audit and attest news from the past month.

Computer Sciences Corp. reached a proposed settlement with the SEC over an accounting probe, agreeing to pay $190 million and adjust its financial statements.

The Sustainability Accounting Standards Board has released a set of provisional sustainability accounting standards for 10 industries within the services sector.

Officials from the Financial Accounting Standards Board and the International Accounting Standards Board spoke about the path forward on harmonizing U.S. GAAP with International Financial Reporting Standards as the two boards near the end of their convergence efforts.

Securities and Exchange Commission officials told CPAs Monday that they are considering allowing U.S. companies to provide some information, such as revenue, in International Financial Reporting Standards as a supplement to their U.S. GAAP financials on a voluntary basis.

The International Ethics Standards Board for Accountants has introduced a Web-based version of its Code of Ethics for Professional Accountants for the first time.

The Financial Accounting Foundation and the two standard-setting boards it oversees, the Financial Accounting Standards Board and the Governmental Accounting Standards Board, have created a draft strategic plan of their vision, mission and top priorities, and are asking for comments.

The International Accounting Standards Board has launched a new program in tandem with some of the largest financial firms in a bid to elicit closer ties with investors and investment firms.

A roundup of recent assurance news.