As the effects of climate change become more prominent, they will become more and more visible in financial statements, says IASB's chair.
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.
Outgoing SEC Commissioner Mary Jo White encourages FASB and IASB to continue collaboration.
They don't take effect until 2019, but few leases will be grandfathered, so there will be an immediate bottom-line impact.
The new revenue recognition standard has implications that extend far beyond accounting.
"Cherry picking" and boilerplate reporting are in the SEC's crosshairs.
Report finds that IFRS helped more than harmed during the 2007-09 banking crisis.
“There is virtually no support to have the SEC mandate IFRS for all registrants,” James Schnurr tells accountants.
Writing private-company exceptions into GAAP complicates financial reporting.
How the IFRS standard for business combinations values intangible assets should be rethought, some say.
The board votes to delay implementation for one year, after previously debating a two-year deferral.
"It's pretty obvious there's going to have to be a deferral," says IASB member Patrick Finnegan.
