Новости

40% of global resources are in control of 147 international companies

Researchers from the Swiss Federal Institute of Technology discovered a relatively small group of interrelated international companies with disproportionate influence on the global economy – informs The New Scientist.

IFRS documents will be published on the Minfin’s official website

In Russia, an official publication of any document from international financial reporting standards will be its first publication either in print (again, officially recognized) or on the Minfin’s website.

Russian insurers to be made more transparent

Yesterday the government of Russia introduced a set of amendments to the law on organization of insurance business which is expected to make this industry more transparent. For instance, insurance brokers will be obliged to have a bank guarantee while receiving their clients’ money according to the insurance contract.

The FAF's proposed standards council draws a strong reply from the AICPA

The American Institute of CPAs has thrown down the proverbial gauntlet to the Financial Accounting Foundation, passing a resolution giving its board the option to create a separate body to develop accounting standards for private companies.

FASB Seeks Comments on Proposal to Defer Changes to Presentation of Reclassification of Other Comprehensive Income on Financial Statements

The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update to defer the specific requirement to present items that are reclassified out of accumulated other comprehensive income to net income alongside their respective components of net income and other comprehensive income. Comments on the proposed deferral are requested by November 23, 2011.

More freedom for consolidated taxpayers

Deputies of the State Duma of Russia have approved a new law on consolidated groups of taxpayers in the third and final reading. The document provides introduction of the institute of consolidated taxpayers in Russia to unite their tax base for the purpose of taxation of companies’ profits.

A very useful tool: IFRSs will help Russian companies

International financial reporting standards have all chances to become official in Russia: before the end of the year the finance ministry plans to officially approve Russian version of IFRSs by its order. Before this became possible, the National Organization for Financial Accounting and Reporting Standards carried out an expertise on application of IFRSs on the territory of Russia and issued positive conclusion. Are there any changes for business society from the new status of international standards in Russia?

The IASB may overhaul “fair value” method of pricing assets

An accounting rule set forth by the International Accounting Standards Board (IASB) may need to be overhauled, IASB board member Stephen Cooper told attendants at an accounting conference on November 7.

EU standard setters: quality and thoughtfulness essential in IFRS

European standard setters broadly supportive of IFRS, but insist on quality and a measured approach... European standard setters seem unconvinced by international financial reporting standards for SMEs.

APB consults on amendments to Ethical Standards

The Auditing Practices Board (APB) today publishes a short consultation document covering two amendments to the Ethical Standards for Auditors.