Jul 15, 2012 | Accounting Globalization, Standards Convergence
Even though FASB (Financial Accounting Standards Board) has been working with the IASB (International Accounting Standards Board) towards convergence of US GAAP with IFRS since 2002, the SEC (Securities and Exchange Commission) has only recently in 2010, started to...Feb 15, 2011 | Standards Convergence
On February 7 and 8, 2011 members of the Accounting Standards Board of Japan and the Financial Accounting Standards Board (FASB) met to update each other on the progress they are making on convergence of their respective Accounting Standards with International...Feb 2, 2011 | Accounting Globalization, Standards Convergence
Another step towards the convergence of accounting standards was taken recently when a joint proposal was made by International Accounting Standards Board (IASB) and the U.S. Financial Accounting Standards Board (FASB) in relation to recognizing the losses on loans by...Jan 13, 2011 | Accounting Globalization, Standards Convergence
With the recent Dodd Frank law amending the accounting rules to permit exchange of information with overseas regulators, the Public Company Accounting Oversight Board (PCOAB) and its British counterpart Professional Oversight Board (POB) have signed an agreement to...Jan 3, 2011 | Standards Convergence
The adoption of IFRS beginning April of 2011 will have a big impact on both the Income Statement and the Balance Sheet of power companies in India. Under the present Indian GAAP, rate regulated assets/ liabilities are allowed to be recognized, so companies have...