Accounting standards

A new report from the Institute of Chartered Accountants in England and Wales urges the International Accounting Standards Board to “end the era of convergence,” and give all listed companies around the world the option of applying International Financial Reporting Standards.

The Private Company Council held its inaugural meeting on Thursday to discuss how accounting standards should be adjusted for privately held companies.

The Financial Accounting Foundation’s board of trustees has appointed four new members to the Financial Accounting Standards Advisory Council and six new members to the Governmental Accounting Standards Advisory Council.

FASB chair Leslie Seidman lays out a schedule for handling the remaining projects on the convergence agenda

Financial Accounting Standards Board chair Leslie Seidman is planning for a multilateral way of working with the International Accounting Standards Board in the future, even as her term approaches an end next year.

The Financial Accounting Standards Board has issued a proposed Accounting Standards Update aimed at clarifying the scope of transactions that would be subject to disclosures about offsetting of assets and liabilities on the balance sheet.

Financial Accounting Standards Board chair Leslie Seidman talks with Accounting Today editor-in-chief Daniel Hood about how FASB's relationship with the International Accounting Standards Board is changing.

Financial Accounting Standards Board chair Leslie Seidman discusses the status of the revenue recognition, leasing, financial instruments and insurance standards that FASB is converging with the International Accounting Standards Board.

Financial Accounting Standards Board chair Leslie Seidman talks with Accounting Today editor-in-chief Daniel Hood about FASB's accomplishments in converging accounting standards with the International Accounting Standards Board on the 10-year anniversary of the Norwalk Agreement.

The Securities and Exchange Commission and the Department of Justice have released A Resource Guide to the U.S. Foreign Corrupt Practices Act, a 120-page guide providing a detailed analysis of the U.S. Foreign Corrupt Practices Act, including the accounting provisions, and closely examining the SEC and DOJ approach to FCPA enforcement.

The American Institute of CPAs’ Accounting and Review Services Committee has issued exposure drafts of its proposed Statements on Standards for Accounting and Review Services as part of its Clarity Project and is asking for public comment on them.

The Financial Accounting Standards Board is giving more time to people to comment on its proposals for clarifying financial statement disclosures as a result of Hurricane Sandy.

In response to the disruptions caused by Hurricane Sandy, the Financial Accounting Standards Board is extending the deadline for comment on a staff paper that outlines an approach for deciding whether and when to modify U.S. GAAP for private companies.

The American Institute of CPAs has released an exposure draft of its proposed Financial Reporting Framework for Small- and Medium-Sized Entities for comment.

Highlights from the previous month in Assurance

It's time to jettison the idea that international standards are coming

Is it time to consider a new form of financial reporting?

The staff of the Public Company Accounting Oversight Board has put a set of frequently asked questions relating to issues connected to the implementation of the board’s funding rules as they related to brokers and dealers.

In an exclusive interview with Accounting Today, Leslie Seidman chair of the Financial Accounting Standards Board, detailed the current status and likely future timeline for the four main remaining part of the board’s convergence agenda with the International Accounting Standards Board.

Financial Accounting Standards Board chair Leslie Seidman is planning for a multilateral way of working with the International Accounting Standards Board in the future, even as her term approaches an end next year.