Financial reporting

The Financial Accounting Standards Board and the International Accounting Standards Board have completed the first phase of a joint project to develop an improved conceptual framework for future accounting standards.

EQUIPMENT FINANCE GROUP BALKS AT LEASING PROPOSAL

The most powerful nations in the world share a commitment to finding a common financial language and reporting standards that will encourage cross-border investment and drive healthy competition between international companies.

NEW GAAP TAXONOMY DEBUTS

Tradition has dictated that for us, August is a slow news month.

With a slate of exposure drafts awaiting comment and a June 2011 deadline for major projects on convergence between U.S. GAAP and International Financial Reporting Standards, the Financial Accounting Standards Board nevertheless has little choice but to navigate that imposing agenda without its long-time chairman and with some empty seats on its board.

In mid-August 2010, the American Institute of CPAs released a video interview with Sir David Tweedie, chair of the International Accounting Standards Board (available on the Journal of Accountancy Web Site, www.journalofaccountancy.com). The content of the interview was also summarized by the British Web site AccountancyAge (www.accountancyage.com).

All clients are looking for lower fees and cost-cutting measures from their CPAs. That's a no-brainer. But do nonprofit organizations have higher expectations around what support and resources they receive from their most trusted advisors?

SourceMedia, Accounting Today’s publisher and a media company serving the financial services industry, has launched a professional education and training business to provide digital training to professionals and companies.

IMGCAP(1)]Check out the digital edition of the Sept. 27-Oct. 10, 2010 issue of Accounting Today.

During my search for a job while in college, I was offered two posts - a part-time hockey referee or a job as a waiter at a now-defunct budget steakhouse chain.

The Securities and Exchange Commission voted unanimously on Friday to propose requiring public companies to disclose more information to investors about their short-term borrowing arrangements.

The Financial Accounting Standards Board is asking for input on how to improve the accounting for insurance contracts in financial reports through a new discussion paper.

Financial Accounting Standards Board technical director Russell G. Golden has been appointed a member of the board, filling one of three vacancies on the newly expanded panel.

We asked candidates for our Top 100 Most InfluentialPeople in Accounting the following question:

The Financial Accounting Standards Board intends to host two public roundtable meetings to solicit input on private company accounting and reporting issues.

IMGCAP(1)]Check out the digital edition of the Sept. 13 issue of Accounting Today.

London - The Prince's Accounting for Sustainability Project has teamed with the Global Reporting Initiative to form the International Integrated Reporting Committee, with the goal of creating a globally accepted framework for sustainability accounting to bring together financial, environmental, social and governance information in a clear, concise, consistent and comparable format. The committee will try to develop more comprehensive and comprehensible information about an organization's total performance, on a prospective and a retrospective basis.

FASB, IASB RELEASE NEW LEASING STANDARD PROPOSALS

Washington, D.C. - The Securities and Exchange Commission is asking the public for feedback on its plans for incorporating International Financial Reporting Standards into the financial reporting system for U.S. issuers.