Oct 24, 2016 | Accounting Globalization, Standards Convergence
With Brexit, the question now is whether the British lawmakers would ask the British companies to file their financials using a different set of accounting rules than the current International Financial Reporting Standards. Some British politicians and investors have...Nov 5, 2012 | Standards Convergence
When the financial crisis was at its peak in 2009, the G20 group met to set a date for the worldwide convergence of the financial standards by end of the year. The deadline got postponed to mid-2011 and then again mid-2013. In a recent report from the SEC which made...Oct 25, 2012 | Accounting Globalization, Standards Convergence
In response to the July report issued by US SEC (which did not give any idea as to whether and when would the SEC decide on adoption of IFRS by its constituents), the IASB issued its own analysis of the situation. According to the International Accounting Standards...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...Nov 8, 2010 | Standards Convergence
October 2002 was a significant year in the history of accounting. The Norwalk Agreement , a memorandum of understanding was announced by Financial Accounting Standards Board and the International Accounting Standards Board (IASB). This was a significant step towards...