Новости

Bankruptcy of Lehman Brothers may have only moderate effects

Douglas W. Elmendorf (Senior Fellow, Brookings Institution) expressed his opinion on consequences of Lehman Brothers’ bankruptcy to the U.S. economy, saying that  final results are in direct connection with the ability of American banks to settle their accounts with the fallen giant.

FASB Issues FASB Staff Position (FSP) No. 133-1 and FIN 45-4, Disclosures about Credit Derivatives and Certain Guarantees: An Amendment of FASB Statement No. 133 and FASB Interpretation No. 45

The FSP is intended to improve disclosures about credit derivatives by requiring more information about the potential adverse effects of changes in credit risk on the financial position, financial performance, and cash flows of the sellers of credit derivatives.

EU To Delay Common Corporate Tax Base Proposals

Proposals for a common method of calculating corporate taxes across the European Union have been put on hold while the European Commission continues to iron out the plan’s finer details, Tax Commissioner Laszlo Kovacs has revealed.

Bank of Russia wants to know everything about interbank crediting

The Central Bank of the Russian Federation plans to watch over interbank crediting more closely, and for that, it has developed new requirements for banking accountancy. Russian banks will soon have to disclose financial information on each and every borrowing on daily basis. If the new accounting form is approved, the Bank will potentially be able to react on the banking system’s needs for liquid funds more promptly.

IASB and FASB Publish Update to 2006 Memorandum of Understanding

The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today published an update of their 2006 Memorandum of Understanding (MoU).  The Boards are issuing this update to report the progress they have made since 2006 and to set the goal of completing their major joint projects by 2011.

ASBJ and IASB meet to review progress in achieving convergence in accounting standards

The Accounting Standards Board of Japan (ASBJ) and the International Accounting Standards Board (IASB) have held their eighth meeting in London to accelerate convergence between Japanese generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRSs).

PCAOB member slams stateside IFRS plans

A senior US accounting oversight board member has dealt an unexpected blow to plans to introduce international accounting rules, saying it could set American markets back by “light years”.

Russian banks don’t think IFRS are good for crisis

When there is a crisis situation, accountancy under IFRS is nothing more than a useless burden – Russian bankers say. Indeed, it doesn’t affect terms of borrowing on external markets, and it won’t save in times of financial crisis anyway. The Central Bank of the Russian Federation receives all needed financial information under Russia’s national accounting standards and doesn’t ask for more. But still, despite all that, when markets are stable, international financial reporting standards are needed because they increase transparency of any banking system.

State Duma approves amendments to the competition law

This Wednesday the State Duma of the Russia Federation approved amendments to the law “On protection of competition” in the first reading, thus clearly defining arrangements on which companies will have to inform the Federal Antimonopoly Service (FAS).

PricewaterhouseCoopers Releases IFRS Guides

PricewaterhouseCoopers has released three new guides to help companies make the transition to International Financial Reporting Standards.