All IFRS articles – Page 2

  • Blog post

    SAP enhances tools for IFRS compliance

    2016-09-13T13:45:00Z

    SAP has released the latest enhancements to its revenue accounting platform designed to help CFOs and chief accounting officers master the new IFRS 15/ASC 606 standards. These new accounting standards apply to all entities — public, private, and not-for-profit — that have contracts with customers and will supersede virtually all ...

  • Blog post

    IFAC calls on G-20 to support international standards

    2016-08-26T08:30:00Z

    The International Federation of Accountants is pitching the G-20 to make a plug for international accounting and auditing standards when they meet in September. Tammy Whitehouse reports.

  • Blog post

    SEC proposes to simplify disclosure requirements

    2016-07-15T08:30:00Z

    The SEC this week voted to propose amendments to eliminate redundant, overlapping, outdated, or superseded provisions, in light of subsequent changes to disclosure rules, accounting principles, and technology. The SEC is also soliciting comment on certain disclosure requirements that overlap with U.S. GAAP to determine whether to retain, modify, eliminate ...

  • Blog post

    Mind the Non-GAAP

    2016-06-01T10:30:00Z

    Why all of the sudden and intense regulatory interest on non-GAAP measures? While the common use of this practice raises concerns of accounting misdeeds, the facts behind non-GAAP paint a different picture that regulators would be wise to notice.

  • Blog post

    FASB, SEC offer new insights on XBRL

    2016-02-19T09:45:00Z

    The Financial Accounting Standards Board has made some changes to the Development Taxonomy for any early adopters of FASB’s new standard on the recognition and measurement of financial instruments, adding elements that companies can use in submitting their financial statements in XBRL. The newest guide is the latest in a ...

  • Blog post

    SEC to Consider Staff Proposal on IFRS

    2015-12-09T15:30:00Z

    Image: The SEC is considering making amendments to rules that would give domestic issuers the chance to provide IFRS-based information as a supplement to U.S. GAAP financial statements. At a recent conference, SEC Chair Mary Jo White said, “The staff has now developed a recommendation for the Commission’s consideration, which ...

  • Blog post

    Why Simplification Isn’t Simple

    2015-05-27T09:00:00Z

    Simplicity in accounting is always a great idea, yet complexity always seems to be intruding into reality. This week, Compliance Week columnist Scott Taub tries to deconstruct why complexity endures, and why we may even see it creep into the ostensibly simplified new rule for revenue recognition. “Despite 10 years ...

  • Blog post

    SEC Chief Accountant Retreats From IFRS Filing Idea

    2015-05-08T12:15:00Z

    Image: SEC chief accountant James Schnurr is distancing himself from an idea he floated last year that the Commission might allow U.S. companies an option to report under International Financial Reporting Standards. Schnurr says staff outreach revealed “little support” for that idea, essentially leaving convergence to standard setters. Details inside. ...

  • Blog post

    Tilting Toward IFRS Experiments in the U.S.

    2015-04-21T08:30:00Z

    Last December, SEC officials raised yet again the idea of letting U.S. companies file financial data—just a bit, on a voluntary basis—according to International Financial Reporting Standards. The proposal was the latest in a long discussion about whether to let U.S. businesses adopt IFRS. This week, Compliance Week columnist Robert ...

  • Blog post

    SEC Approves XBRL Updates for 2015 GAAP

    2015-03-10T14:00:00Z

    The SEC has approved FASB’s XBRL taxonomy for 2015 U.S. Generally Accepted Accounting Principles, clearing the way for companies to rely on it as early 2015 filers approach their financial statement filing dates and XBRL submissions. According to FASB, the 2015 Taxonomy contains far fewer changes than prior years. More ...

  • Blog post

    IFRS Foundation Appoints New Vice-Chairs to Advisory Council

    2015-03-06T14:30:00Z

    The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board (IASB), recently announced the appointment of Gavin Francis and Goro Kumagai as Vice-Chairs to the IFRS Advisory Council. The IFRS Advisory Council is a formal advisory body to the IASB and the ...

  • Article

    Recognize the Big Standards’ Changes

    2015-01-06T09:30:00Z

    The auditing and financial reporting world will spend lots of 2015 preparing for the new revenue recognition standard going into effect by 2017—but from leasing to going concern warnings to IFRS adoption in the United States, plenty of other major changes may arrive as well. “Folks have come to see ...

  • Blog post

    SEC Explores Possible Option to Report Under IFRS

    2014-12-08T10:45:00Z

    Image: The Securities and Exchange Commission is exploring whether to provide U.S. companies with the option to present their financial statements under International Financial Reporting Standards, SEC Chief Accountant James Schnurr said last week. Schnurr is studying the staff’s historical work on a possible adoption of IFRS, and reaching out ...

  • Blog post

    SEC Preparing End to IFRS Speculation

    2014-11-10T14:15:00Z

    The Securities and Exchange Commission may be preparing to put an end to the uncertainty about possible adoption of International Financial Reporting Standards in the United States. SEC Chief Accountant James Schnurr said at a recent conference that he plans to make a recommendation to the full Commission in the ...

  • Blog post

    Proponents Say IFRS Will Benefit EU Moving Forward

    2014-10-29T13:00:00Z

    Image: Title: HoogervorstOct. 29—The heads of two groups charged with overseeing the International Financial Reporting Standards have told the European Commission that using the single set of financial reporting standards has benefited the European Union and will continue to do so. IFRS Foundation Board of Trustees Chairman Michel Prada and ...

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