Новости

Uncertainties abound surrounding international accounting standards

While insurers eagerly await the release of international financial reporting standards (IFRS) from the International Accounting Standards Board (IASB), which have been in the works for more than a decade and are finally nearing completion, they are stuck in a wait-and-see mode, according to a new report from Deloitte, wherein many concerns are festering.

The Banking Union won’t be enough

The Banking Union based on the euro block and actions taken by the European Central Bank indeed improves chances of banks, but one shouldn’t forget about high borrowing costs for governments in the European “periphery” - first of all Spain with its highly exposed budget.

Buying and selling of banks made easier

Yesterday the Central Bank of the Russian Federation published its new order to simplify presentation of financial information for companies purchasing bank capital or which are affiliated with credit institutions: certain information on their financial position may be omitted as long as they have high ratings from credit rating agencies.

Minfin doubles control over transfer pricing

Large groups in Russia won’t be able to economize on profit taxes if they lend to their affiliates at non-market rates: the Ministry of Finance of the Russian Federation promised to intensify control over intragroup loans by applying rules of transfer pricing to them in addition to the already effective “thin capitalization rule”.

“More than insignificant” is key judgment in leases proposal

Accountants may have difficulty at times determining what constitutes “more than insignificant” consumption of a leased asset by a lessee under a proposed standard being jointly developed by the US Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), according to a webcast conducted by the boards on Thursday.

IAESB Offers Online Questionnaire to Inform Development of Its Future Strategy

The International Accounting Education Standards Board (IAESB) is launching an online questionnaire to inform the development of its strategy and related work plan for 2014-2016. The initiative is part of the IAESB's broader mandate to consult with key stakeholders to determine which issues should be addressed by the board.

IESBA Proposes Change to Code of Ethics Definition of Those Charged with Governance

The International Ethics Standards Board for Accountants (IESBA) today released for public exposure a proposed change to the definition of “those charged with governance” in the IESBA Code of Ethics for Professional Accountants (the Code).

Is a fair value of fixed assets relevant?

Companies provide financial information to shareholders and creditors through financial statements. Shareholders use the same to value the equity of the company and to evaluate the management in its stewardship function. Creditors, including lenders, use the same for evaluating credit risk. The objective is to provide financial information that is relevant in predicting the stream of cash flows, which the enterprise will generate in future...

LIBOR scandal getting more international

New suspects in the LIBOR case are being investigated by regulators of the continental Europe – those are Deutsche Bank (Germany), Credit Agricole and Societe Generale (France). Investigators are interested in contacts traders of those three banks could have had with traders of Barclays, the one which has already been fined for $290 million for manipulations with LIBOR.

EU queries U.S. seat on global accounting body

The United States may have to give up its seat on a top global accounting body if it continues to drag its feet over the adoption of international book-keeping rules, the European Union's executive said on Wednesday.