Fair-Value Rules

Companies Laboring to Make Sense of New Fair-Value Rules

Tammy Whitehouse March 20, 2012

With the first-quarter close approaching, companies and their auditors are still trying to determine how they will comply with a new rule that adjusts the method for measuring fair value and requires new disclosures. "Companies are still ... trying to figure out what this really means and what it is going to look like," says Manish Choudhary, a principal at Deloitte. Details inside.

Accounting: 2012 Could Bring More Questions Than Answers

Tammy Whitehouse January 03, 2012

With many of the projects to converge U.S. Generally Accepted Accounting Principles and International Financial Accounting Standards nearing completion, several big questions remain, including what path the SEC will take on whether and how to adopt IFRS. "It doesn't appear those will be resolved or any changes will be effective in 2012," says Bob Dohrer, national director of assurance services for McGladrey & Pullen.

The Implications of Predicting Loan Loss

Scott Taub March 29, 2011

The Financial Accounting Standards Board's recent proposal on impaired loans has the stated objective of recognizing losses before they occur. Columnist Scott Taub argues that the proposal runs counter to traditional accounting principles and would result in a lack of discipline. Inside, he offers an alternative method.

ACCA Warns About Political Interference in IFRS

Global Glimpses August 03, 2009

Leaders of the G20 nations must underline their commitment to a single set of global accounting standards when they meet in Pittsburgh this September, or unease about the future of International Financial Reporting Standards (IFRS) will grow, according to a policy paper from the Association of Chartered Certified Accountants.The London-based...

IASB Promises Quicker Financial Instruments Reform

Global Glimpses May 29, 2009

The International Accounting Standards Board has accelerated its project to replace controversial accounting rules on financial instruments.An update published after a recent board meeting says it will now publish an exposure draft on the classification and measurement of financial instruments by July 2009. Previously it said the proposals would not...

Europe's Big Banks Slow on Fair-Value Opt-out

Global Glimpses January 08, 2009

Many European Union financial companies—including a majority of the biggest ones – have decided not to apply a relaxed accounting rule that would allow them to shelter assets from a fair value write-down. But those that have used the get-out have not disclosed enough about what they are doing, according...

IASB Moves to Fix Rushed Reclassification Ruling

Global Glimpses December 23, 2008

Act in haste, repent at leisure: The International Accounting Standards Board has announced plans to fix a problem with an amendment to financial instrument reclassification rules that it rushed through in October.Acting under intense pressure from European politicians—pressure that almost made IASB Chairman Sir Davie Tweedie resign—in October the Board...

FSA: No Combined Code for Foreign Cos.

Global Glimpses December 03, 2008

The Financial Services Authority has scrapped a proposal that would have made the Combined Code on Corporate Governance apply to many foreign companies listed on the London Stock Exchange.Under a set of proposals published in January—aimed at making London’s complex listing categories easier to understand—the FSA suggested that foreign companies...

IASB Chief Nearly Quit on Fair-Value Pressure

Global Glimpses November 19, 2008

Sir David Tweedie, chairman of the International Accounting Standards Board, considered resigning last month after coming under intense pressure from European Commission officials to retreat on fair-value accounting rules.The Commission wanted IASB to ease its rules relating to the valuation of financial instruments, to help banks weather the financial crisis....

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