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Changes to Lease Accounting – joint IASB/FASB exposure draft released
On August 17, 2010, the FASB and IASB issued exposure drafts proposing a new approach to lease accounting that would significantly change the way entities account for leases. Once finalized,… Read more
PWC: IFRS and U.S. GAAP: similarities and differences: September 2009
The PWC’s guide IFRS and U.S. GAAP: similarities and differences (Sep 2009) will help companies develop a broad understanding of the major differences between IFRS and U.S. GAAP today as… Read more
IASB and FASB Commitment to Memorandum of Understanding
Quarterly Progress Report – 31 March 2010 In November 2009, we, the International Accounting Standards Board (IASB) and the U.S. Financial Accounting Standards Board (FASB), released a joint statement in… Read more
Preparing your stakeholders for IFRS
Many Canadian enterprises are now in the transition year of their move to IFRS in 2011. Most of the companies have so far only focused internally with very limited disclosures… Read more
Fair Value accounting standards are here to stay – Results of the SEC study
Congressionally-Mandated Study Says Improve, Do Not Suspend, Fair Value Accounting Standards Washington, D.C., Dec. 30, 2008 — The Securities and Exchange Commission today delivered a report to Congress mandated by… Read more
Adoption of IFRS in the U.S. – are we ready in the U.S.?
The AICPA is full steam ahead moving with the IFRS in the U.S. in 2014, without providing any strong justification to abandon the current U.S. GAAP. Did you ever guess… Read more
What is International Accounting Standards Board (IASB)?
Brief explanation as to what is International Accounting Standards Board (IASB), including the structure and brief description of the standard setting process.
SEC considering optional Early Adoption of IFRS in the U.S.:
On August 27, 2008, SEC proposed the potential mandatory adoption of IFRS in the U.S. beginning in 2014. The proposed rule would also allow certain qualifying domestic issuers to use IFRS as… Read more
Will IFRS eventually overtake U.S. GAAP accounting standards?
CFO.com in its article “No New Accounting Rules for Three Years?” reported that IFRS adoption in the U.S. was a recurring theme at a recent public forum held by the… Read more