Новости

FAS asked Minfin for more objectivity in evaluation of financial stability of insurers

Deputy chairman of the Federal Antimonopoly Service (FAS) Andrey Kashevarov sent an official letter to deputy minister of finance Sergei Shatalov, asking him to broaden the set of normative standards for insurance companies for “more objectivity in evaluation of their financial stability”.

EU Ministers Say Accounting Convergence With U.S. Is “Critical”

European Union ministers said it is “critical” that convergence on accounting standards is reached on the continent to ensure that the region’s banks are not placed at a disadvantage against U.S. competitors.

IASC Foundation issues IFRS Taxonomy 2009 and publishes for public comments its due process for XBRL activities

The International Accounting Standards Committee (IASC) Foundation today issued the IFRS Taxonomy 2009 and published the Due Process Handbook for XBRL Activities for public comments.

TARP will cost twice more than expected

The Congressional Budget Office (CBO) of the United States has raised its expectations on net losses of American taxpayers from implementation of the TARP program. According to them, the Troubled Asset Relief Program will cost $356 billion instead of $189 billion as it was initially forecasted in January.

Russian ministry proposed tax benefits to support smaller businesses

The Ministry for Economic Development has prepared a set of amendments to lower tax burden on smaller entities. This includes decreasing barriers for companies that wish to apply simplified taxation and setting maximum limits of profit tax rates which are set in various regions of Russia.

US relaxes fair value rules

The US standard-setter has relaxed fair value accounting rules for bank assets in a move that allows them to ignore market prices where the market for those assets is judged to be illiquid or distressed.

Fears for IFRS as watchdog warns US will miss 2014

The UK’s chief financial reporting regulator has said adoption of international accounting standards for all listed US companies will not be achieved by 2014, adding weight to concerns that the appetite for IFRS is waning under the Obama administration, which could place global convergence efforts in jeopardy.

FASB Issues Staff Position 141(R)-1 “Accounting for Assets Acquired and Liabilities Assumed in a Business Combination That Arise from Contingencies”

This FASB Staff Position (FSP) amends and clarifies FASB Statement No. 141 (revised 2007) “Business Combinations” to address application issues raised by preparers, auditors, and members of the legal profession on initial recognition and measurement subsequent measurement and accounting, and disclosure of assets and liabilities arising from contingencies in a business combination.

Kudrin promised to leave top-managers of state-controlled companies and banks without big bonuses

The need to control bonuses in crisis conditions was among the most important conclusions of the G20 conference in London. World leaders (for example, Barak Obama) have many times insisted on not allowing premiums to top-managers of companies which receive anti-crisis support.

No more mercy for bankers and insurers

The Federal Antimonopoly Service (FAS) of Russia wants to cancel amnesty for companies which voluntarily admitt their guilt in anticompetitive agreements. “No longer it will be like today, when all rush to surrender and receive forgiveness”, - promised chair of FAS Igor Artemiev.