Новости

Russian banks freed from control over cash of their clients

Russian bankers will at last be freed from one of the most redundant "relics" of the Soviet banking system and will at last stop to control cash operations of their clients. The corresponding project was presented for the State Duma’s consideration by the Association of regional banks of Russia (aka Association “Russia”).

Ukraine wants faster deregulation of business

Prime-minister of Ukraine Mykola Azarov demands ministries to accelerate deregulation of business. On that he informed today during the meeting of the Cabinet of Ministers.

Greece will get 60 billion more

Despite the fact that the country’s government has been actively denying this possibility, it looks like Greece needs (and will have to get) additional 60 billion in financial support because it is now at the edge of debt restructuring despite 110 billion it received last year.

Lease-Accounting Rules Change Delayed as Complexity Complaints Addressed

"Accounting Today" reports that FASB chair Leslie Seidman gave an overview of the work last week, and said they were taking extra time to get the standards right and trying to simplify them to make them easier for accountants to apply.

Critics unearth “second thoughts” over IFRS

Critics believe a number of European governments are having second thoughts about the adoption of full International Financial Reporting Standards, and the doubts are evidenced by moves to establish a parallel accounting system.

SEC Seeks Public Comment to Assist in Study on Assigned Credit Ratings

The Securities and Exchange Commission today published on its website a request for public comment on the feasibility of a system in which a public or private utility or a self-regulatory organization would assign a nationally recognized statistical rating organization (NRSRO) to determine credit ratings for structured finance products.

Microsoft gets Skype

Microsoft purchased Skype for $8.5 billion – that’s the largest acquisition in history of Bill Gates’ company.

The darkening glass: Issues for translation of IFRS

A single global accounting language surely must be the aim of the accounting profession in its bid to support the global economy and markets. However, there are a number of practical and political issues which may hinder this process.

International Federation of Accountants Praises Launch of Pan-African Federation of Accountants

The launch of the Pan-African Federation of Accountants (PAFA)/Fédération Panafricaine des Experts-Comptables (FEPEC) is a historical event for the accountancy profession and the African continent, according to the International Federation of Accountants (IFAC). IFAC is the global organization for the accountancy profession, with members and associates in 125 countries.

EU to leave Russia without tax preferences

The European Union no longer wants to give any preferences to developing countries like Russia or Brazil. Officials in Brussels came to the conclusion that 80 countries had becomes rich already and had no rights for preferences guaranteed by the Generalized System of Preferences (GSP). Experts think, however, leaving developing economies without those preferences won’t be that easy.