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...Jan 10, 2011 | Standards Convergence
The Institute of Chartered Accountants of Sri Lanka (ICASL) plans to adopt new accounting guidelines for Sri Lankan companies in line with International Financial Accounting Standards starting 2012. The Central Bank of Sri Lanka, in its Road Map Monetary and Financial...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...Dec 20, 2010 | Standards Convergence
Recently the Financial Accounting Standards Board and the International Accounting Standards Board said they were on track to finish writing the new accounting standards for financial instruments, revenue recognition, leases, comprehensive income, and fair value...