International accounting

The recent IFAC Global SMP Survey from the International Federation of Accountants showed that attracting new clients is a top concern for accountants in small and medium practices, with 58 percent of respondents rating it as a high or very high challenge.

The Financial Accounting Standards Board appears to be poised to delay the effective date of its new revenue recognition standard by a year, giving U.S. companies more opportunity to adapt to the changes.

Toshiba Corp. fell the most in more than a year after the company said it would appoint a committee to investigate possible problems with its accounting.

Kara Stein, a commissioner with the Securities and Exchange Commission, appeared to reject the need for convergence with International Financial Reporting Standards in a speech last week.

The International Accounting Standards Board issued an overview of its upcoming lease accounting standard Monday, saying it plans to complete its deliberations on the long-awaited standard this month and to issue the standard later this year.

While the major international accounting firms no longer do business in Iran, the country’s own accounting firms have been faring well, according to a new report.

Compensation for management accounting and finance professionals rose by an average of 7.1 percent last year, according to a new survey, but some specialties received raises while others saw their salaries remain stagnant.

The Financial Accounting Standards Board and the International Accounting Standards Board are considering some changes to their converged revenue recognition standard that could lead to divergence after hearing feedback from the Joint Transition Resource Group that is examining implementation issues.

An organization of Irish accountants has signed an agreement with a Russian accounting organization, to provide education, training, examination, an online certificate in financial reporting and an array of other areas.

Noble Group Ltd. denied inflating the balance-sheet value of contracts as Asia’s biggest commodities trading house published a rebuttal against allegations by Iceberg Research, an anonymous group that’s questioned the company’s accounting methods. Noble’s shares rose.