The board believes companies should be required to provide more information about how their takeovers have performed.
The proposals represent "a game changer in the comparability and usefulness of financial statements," said IASB Chair Hans Hoogervorst.
“We want to give investors the right handles to look at a balance sheet,” the board's chairman Hans Hoogervorst says.
"Cherry picking" and boilerplate reporting are in the SEC's crosshairs.
FASB and the IASB back away from the goal of a single global accounting language.
The former chairman of the SEC declares that full-scale adoption of IFRS in the United States is no longer possible, but his European counterparts disagree.
Despite its global implications, the sovereign debt crisis is taking a back seat to European leaders’ desire for a long-term road map for the currency union.
