IASB Archives - CFO

IASB Proposes Changes to Reporting of Profit and Income

IASB Proposes Changes to Reporting of Profit and Income

The proposals represent "a game changer in the comparability and usefulness of financial statements," said IASB Chair Hans Hoogervorst.

By Vincent Ryan | December 17, 2019

Companies Urged to Stay Abreast of Accounting Proposals

Revenue Recognition

Companies Urged to Stay Abreast of Accounting Proposals

Not paying close attention to proposed accounting standards and not commenting when there are concerns can have important consequences, experts say.

By David McCann | May 13, 2019

New Lease Standard: Comparing IFRS and U.S. GAAP

Risk & Compliance

New Lease Standard: Comparing IFRS and U.S. GAAP

For multinationals that must prepare financials under both standards, there are comparability challenges and differing nuances to keep in mind.

By David McCann | May 9, 2019

Climate Change Reporting: A Catalyst for Change

Climate Change Reporting: A Catalyst for Change

As the effects of climate change become more prominent, they will become more and more visible in financial statements, says IASB's chair.

By David McCann | April 3, 2019

Rev Rec Rule Transforms Accounting: FASB’s Siegel

Revenue Recognition

Rev Rec Rule Transforms Accounting: FASB’s Siegel

The revenue recognition standard will turn a diverse set of industry standards into “one framework about how to think about revenue.”

By David Katz | November 15, 2017

Companies Get Help with Materiality Definition

Global Business

Companies Get Help with Materiality Definition

The International Accounting Standards Board responds to companies’ call for help with materiality in financial statements.

By David Katz | September 19, 2017

New Lease Accounting Rules Pose Challenges, Study Says

Lease Accounting

New Lease Accounting Rules Pose Challenges, Study Says

The standards take effect in a mere six quarters for public companies, but many have not yet begun, or only recently began, to assess what must be done.

By William Sprouse | June 28, 2017

In Accounting Swan Song, SEC’s White Urges Convergence

Revenue Recognition

In Accounting Swan Song, SEC’s White Urges Convergence

Outgoing SEC Commissioner Mary Jo White encourages FASB and IASB to continue collaboration.

By David Katz | January 6, 2017

Start Preparing Now for New Lease Accounting Rules

Start Preparing Now for New Lease Accounting Rules

They don't take effect until 2019, but few leases will be grandfathered, so there will be an immediate bottom-line impact.

By Sean Moynihan | December 29, 2016

Revenue Recognition: The Clock Is Ticking

Revenue Recognition

Revenue Recognition: The Clock Is Ticking

The new revenue recognition standard has implications that extend far beyond accounting.

By Eric Knachel | December 21, 2016

IASB Plans Revamp of Financial Term Definitions

IASB Plans Revamp of Financial Term Definitions

“We want to give investors the right handles to look at a balance sheet,” the board's chairman Hans Hoogervorst says.

By Matthew Heller | November 2, 2016

FASB Requires Timelier Recording of Credit Losses

FASB Requires Timelier Recording of Credit Losses

The big change is being referred to as the institution of 'Day 1 Loss' reporting, according to board member Hal Schroeder.

By David Katz | June 16, 2016

Firms Slow to Implement New Revenue Standard

Revenue Recognition

Firms Slow to Implement New Revenue Standard

Less than 29% of corporate financial preparers polled by KPMG say their companies have a clear plan to make the change in revenue recognition.

By Matthew Heller | January 25, 2016

New Lease Standards May Demand Two Sets of Books

New Lease Standards May Demand Two Sets of Books

The just released IASB lease accounting standard and its forthcoming FASB counterpart call for different expense accounting methods.

By David Katz | January 13, 2016

Companies Should Update Lease Accounting Systems, Experts Advise

Companies Should Update Lease Accounting Systems, Experts Advise

FASB’s vote to proceed with its new standard for reporting lease obligations starts the clock ticking.

By David Katz | November 12, 2015