Financial reporting

The International Public Sector Accounting Standards Board has published a paper questioning how financial statements can provide more information about the long-term sustainability of current government programs.

A new survey of corporate accountants found that 46 percent said their company could do more to prepare for recovery and another 8 percent believe their company is poorly prepared for recovery.

Despite growth in its Asia-Pacific region, as well as in its consulting unit, wobbly economic conditions both domestic and abroad resulted in Deloitte Touche Tohmatsu reporting a 4.9 percent decline in fiscal 2009 global revenues in U.S. dollars, to $26.1 billion, and just 1 percent growth in local currency terms.

The Private Company Financial Reporting Committee met to discuss the impact of recent changes in accounting standards on private companies, including some confusion in the Financial Accounting Standards Board’s new Codification updates.

The Financial Accounting Standards Board has established a Not-for-Profit Advisory Committee to offer input to the board on guidance, current and future technical projects, and longer-term issues affecting nonprofits.

Accounting firms are managing overall to maintain their rates, client services and staff even as the economy continues to challenge them and their clients, according to a new survey.

The Association of Chartered Certified Accountants recommends in a new report that environmental regulators should work with international accounting standard-setters to develop a universally applicable climate change reporting standard for organizations of all sizes.

Stephen Chipman, incoming chief executive of Grant Thornton LLP and Ed Nusbaum, incoming chief executive of Grant Thornton International, talk to Accounting Today Editor-in-Chief Bill Carlino about why a recent college grad should choose their firm. We also learn that, yes, Nusbaum has his own iPod.

PricewaterhouseCoopers has released the 2009 edition of its free downloadable guide comparing International Financial Reporting Standards with U.S. GAAP.

The Group of 20 Leaders included a call for accounting convergence in their statement at the conclusion of their summit in Pittsburgh last weekend.

I know, I know you’re used to being in demand.

Business consulting and internal audit firm Protiviti Inc said it has formed an advisory board to assist its clients with navigating the unstable economic and regulatory environment.

Moss Adams CEO Rick Anderson has written to Treasury Secretary Timothy Geithner urging him and other world financial leaders at the G-20 meeting next week to act more quickly on global accounting and corporate governance issues.

[IMGCAP(1)] Adam Wolf isthe type of guy you’d want to bring along to a networking event or have as aguest at a dinner party. He’s got a plethora of stories to tell, is a fast (andsmooth) talker, and naturally knows how to bring people who would benefit fromeach other together.

Eighty-nine percent of financial executives view mandatory conversion to International Financial Reporting Standards to be either highly likely or somewhat likely in the U.S., according to a new survey by Deloitte.

The American Bankers Association has written to Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke asking them to raise accounting issues at the upcoming G-20 meeting in Pittsburgh in order to curb efforts by standard-setters to expand mark-to-market accounting to loans and debt instruments.

The International Accounting Standards Board’s oversight body has proposed a series of changes aimed at providing better governance of the standard-setter, including renaming the organization the International Financial Reporting Standards Board.

The Center for Audit Quality has created a free online Guide to International Financial Standards to educate people about the uncertain state of the IFRS roadmap.

If you haven’t heard of the social bookmarking site, Delicious, you may be living in a cave.

The Financial Accounting Standards Board has published implementation guidance on accounting for uncertainty in income taxes and disclosure amendments for nonpublic entities.