International accounting

Financial Accounting Standards Board chairman Russell Golden and technical director Susan Cosper discussed FASB’s upcoming leasing, classification, impairment and hedge accounting standards during a conference in New York, along with the board’s plans for future standards.

Don’t expect to find these rarely seen accounting movies on Netflix or TCM. They never won more than a cult following, much less an Academy Award, perhaps because of an unfortunate resemblance to previous Oscar winners.

The accounting profession is strongly linked to national economic growth and improved living standards and is estimated to contribute $575 billion annually to the global economy, according to a new report.

BDO Canada LLP has merged in Majewski Shaler & Co., a Vancouver-based accounting practice.

BDO Canada LLP has acquired H&A Forensic Accounting, a Toronto-based professional forensic accounting and advisory firm.

Toshiba Corp. sued three former presidents as the maker of personal computers and power plants tries to recover from accounting irregularities that have led to profit write-downs of more than $1.2 billion over almost seven years.

A key accounting safeguard intended to protect U.S. investors who buy shares of Chinese companies is close to unraveling.

To Paul Pacter: It's the ends that matter, not the means

The International Federation of Accountants has published a paper calling for more “integrated thinking” by accountants.

South Korea will draw up measures to increase transparency to the accounting methods used by construction and shipbuilding companies to prevent them from running up huge losses when projects are delayed.

Valeant Pharmaceuticals International Inc. shares slumped as Chief Executive Officer J. Michael Pearson’s defense of the drugmaker’s accounting and ethics failed to resonate with investors fretting about its relationship with a mail-order pharmacy.

The dizzying rise and rapid fall in the shares of drugmaker Valeant Pharmaceuticals International Inc. is eerily familiar to Canadian investors still smarting from the last time a small market was dominated by single stocks—BlackBerry Ltd. and Nortel Networks Corp.

The number of accountants who belong to professional accounting organizations that are members of the International Federation of Accountants grew 16 percent from 2.4 million to 2.8 million between 2009 and 2013.

Paul Pacter speaks up for IFRS

The International Accounting Standards Board proposed temporary measures to address worries over conflicts between a standard that has been issued, and another that isn’t due for a year.

Deloitte reported Tuesday its global annual revenues reached $35.2 billion in fiscal year 2015, a 7.6 percent growth rate in terms of local currency.

The Public Company Accounting Oversight Board has entered into a cooperative arrangement with Luxembourg’s audit regulator, the Commission de Surveillance du Secteur Financier of Luxembourg, relating to the oversight of audit firms subject to the regulatory jurisdictions of both regulators.

The chairmen of the two organizations responsible for the creation of IFRS argue the value of the standards to the public in a new publication.

The International Accounting Standards has issued an amendment to its revenue recognition standard, IFRS 15 Revenue from Contracts with Customers, formalizing the deferral of the effective date by one year until 2018.

The Financial Accounting Standards Board has issued a proposed accounting standards update to clarify the implementation guidance on principal versus agent considerations contained in the new revenue recognition standard.