FASB-IASB
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Herz: U.S. Convergence Ball Is in SEC's Court
The decision about whether the nation's corporations should report under international accounting standards has foundered amid a change of Presidents and a corresponding change of leadership at the Securities and Exchange Commission.
November 17, 2009
"The $64,000 question," said Financial Accounting Standards Board chairman Robert Herz, is: where is the United States headed as far as converting from U.S. generally accepted accounting principles to international financial reporting standards? Read more...
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More FASB-IASB Articles
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Business Models Matter (for Accounting, That Is)
With the first in a trio of rules on financial instruments, the IASB requires companies to evaluate their business model before abandoning fair-value accounting. November 13, 2009
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Start Your IFRS Engines?
In the wake of last week's meeting of U.S. and international accounting standard setters, the SEC's Mary Schapiro gives a nod to the rulemakers' convergence efforts. November 6, 2009
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"Convergence Doesn't Necessarily Mean the Same."
The IASB and FASB are hoping to write accounting principles that match up word-for-word. But the devil may be in the rules governing implementation. Here are two examples. November 5, 2009
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Sooner, Not Later
FASB gives companies that sell bundled products a break on the timing of revenue recognition. November 1, 2009
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On Convergence, Speed Is In; Hubris Is Out
FASB and the IASB rework their approach as Paul Volcker calls for an end to America's love affair with U.S. GAAP. October 30, 2009
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Bridging the Gap on Booking Bank Loans
The U.S. and international accounting standards boards mull the divide between them on how banks should recognize changes in a loan's fair value. October 23, 2009
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Range Factor: FASB Eyes Broader Fair-Value Disclosures
Corporations should use alternative information as well as their own in reporting hard-to-gauge mark-to-market estimates. August 31, 2009
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Get Ready for the Next Fair-Value Showdown
By the end of the year, FASB likely will release more details on its proposed mark-to-market rules for loans. Expect the banking industry to balk, again. August 18, 2009
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FASB Shows "Sensitivity" to Fair Value
The board will propose a requirement for companies to disclose more about their sketchiest valuations of their assets and liabilities. August 6, 2009
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