FASB-IASB

You are here: Home : Topics A-Z : FASB-IASB

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

A 40-word statement by Securities and Exchange Commission chairman Mary Schapiro Thursday night, after U.S. and international accounting rulemakers reaffirmed their commitment to creating a single set of principles, didn't say much on its face. The innocuous two sentences read: "I am greatly encouraged by the commitment of the IASB and the FASB to provide greater transparency to the standard setting process and their convergence efforts. I believe that these efforts will result in improved financial information provided to investors." Read more...

Follow this topic

Sign up for newsletters
Subscribe to our FASB-IASB RSS feed

More FASB-IASB Articles

"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
Sooner, Not Later
FASB gives companies that sell bundled products a break on the timing of revenue recognition. November 1, 2009
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
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
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
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
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
The New Crisis Report: What's in It for CFOs?
Two members of a high-level accounting advisory group say that their recommendations are not just aimed at regulators and standard-setters, but corporate finance executives, too. July 31, 2009
Companies: New Lease Rule Means Labor Pains
As standard-setters inch toward a new lease-accounting standard, corporations push back on the added work it could create. July 21, 2009