Новости

AICPA Wants Delay in Loss Contingency Standards

The American Institute of CPAs has written to the Financial Accounting Standards Board requesting a delay in finalizing its proposed standards on disclosing companies’ loss contingencies in the event of litigation until it can work out a “treaty” with the American Bar Association on how accountants and attorneys can share information.

Germany advised the USA to review its economic model

One of the largest EU’s economies - Germany – advised the USA to review its current economic strategy, which is to support the national economy’s growth at the expense of increasing the debt.

FFMS prohibited issuing of bank guarantees by insurers

In his interview to RBC-Daily chairman of the Federal Insurance Supervision Service (FISS) Alexander Koval told yesterday that insurance companies would not be able to issue bank guarantees soon. He thinks that they may undermine financial stability of many insurers if they have to meet their obligations.

Minfin of Russia approves the order to endorse IFRSs

Approval on endorsement of separate IFRS standards will be issued by the finance ministry, but upon agreement with the Federal Financial Markets Service (FFMS) and the Central Bank.

IFRS for banks challenged by ASB member

Tim Bush, a member of the Accounting Standards Board’s (ASB’s) Urgent Issues Taskforce, has written a letter warning of “fatal” flaws in the roll-out of International Financial Reporting Standards for banks.

FASB Issues Accounting Standards Update “Health Care Entities (Topic 954): Measuring Charity Care for Disclosure”

FASB updates several “medical” accounting standards.

IASB proposes amendments to IFRS 1

The International Accounting Standards Board (IASB) today published for public comment proposed amendments to IFRS 1 “First-time Adoption of International Financial Reporting Standards”. The IFRS Interpretations Committee, the interpretative body of the IASB, has today published for public comment proposed guidance on the accounting for stripping costs in the production phase of a surface mine.

Government enterprises in Russia will have to ask for permission to purchase anything

State-owned companies in Russia will have to agree with the government all of their decisions to purchase any assets, not only large ones, but even smallest.

Geithner “nukes” IMF

It is unclear how the International Monetary Fund will go on with its duties after 1 November because on that date the body may be left without legitimate board of directors. The situation is provoked by orders of American finance minister Timothy Geithner. Many said it was like declaration of a nuclear war, while many others think that it was a strong push to long-awaited and much needed reforms.

Dissatisfaction with tax regime has risen

A report commissioned by HM Revenue & Customs has found that around 20% of large British businesses have considered relocating abroad for tax reasons.