The International Accounting Standards Board plans to establish a formal network to give standard-setting bodies a voice when their countries switch to International Financial Reporting Standards. There is conflict, however, over how the network will operate and whether it would dilute IFRS as a single set of reporting standards. Advocates of such a network say the U.S. will not commit to IFRS without it. Â ...Read more ›
FEI Details Regulatory Action on Private Companies: FASB on Definition and Standards. IFRS Proposals. More.
If you're interested in keeping up on regulatory news in a day-to-day fashion, Financial Executives International (FEI) publishes a greatÂ news pageÂ on its own site and offers content for theÂ FEI Financial Reporting BlogÂ atÂ AccountingWeb. Â Both sites offer multiple monthly highlights from SEC, PCAOB, FASB, IASB, and other regulatory news, including reporting under Sarbanes-Oxley Sect 404. TheÂ FEI Financial R ...Read more ›
Five Things to Watch For In Year-End Portfolio Company Fair Value Measurements Private equity fund managersâ€”and their limited partnersâ€”cannot take fair value measurement for granted. In 2011, a number of new procedures and policies spawned by SFAS 157 (not Topic 820) have hardened into established routines. This checklist helps fund managers and consultants measure the fair value of portfolio company invest ...Read more ›
FASB Proposes Changes in Investment Accounting Michael Cohen reports at Accounting Today: The Financial Accounting Standards Board has released two proposed accounting standards updates to clarify the criteria for investment company accounting and develop guidance for investment property accounting. TheÂ proposed update for investment company accountingÂ stems from the efforts of FASB and the International Ac ...Read more ›
FASB Approves Standard to Simplify Testing Goodwill for ImpairmentÂ The Financial Accounting Standards Board (FASB) approved a revised accounting standard intended to simplify how an entity tests goodwill for impairment. Per the FASB: â€śThe Boardâ€™s decision today comes as a direct result of what we heard from private companies, which had expressed concerns about the cost and complexity of performing the good ...Read more ›
Hey There, Bob Posen! Steven Zelin, aka "The Singing CPA," and Edith Orenstein, Accounting WEB blogger for Financial Executives International (FEI), have teamed up to create a music video celebrating the third anniversary of the Security and Exchange Commission's (SEC)Advisory Committee on Improvements to Financial ReportingÂ chaired by Robert C. (Bob) Pozen, senior financial lecturer at Harvard University. ...Read more ›