Новости

CESR report on GAAP equivalence to IFRSs

The Committee of European Securities Regulators has published its advice to the European Commission on the equivalence of Chinese, Japanese, and US GAAPs to International Financial Reporting Standards.

SME standards to be rebranded by IASB

The standard, which has caused confusion for many who have queried the definitions of small companies, could be revamped, said International Accounting Standards Board chairman, Sir David Tweedie.

Bank of Russia amends order of calculation of liquidity standards

Yesterday the Central Bank of the Russian Federation announced changes introduced into practice of calculation of required normative standards calculated by commercial banks. From now on, they will legally present higher liquidity indicators, which will allow them to issue longer-term credits.

The IASC Foundation publishes IFRS Taxonomy 2008

The IFRS Taxonomy 2008 is a complete translation of International Financial Reporting Standards (IFRSs) as published in the IFRS Bound Volume 2008 into XBRL, an eXtensible Markup Language (XML) language that is used to communicate information between businesses. The IFRS Taxonomy 2008 is published in the same languages as the IFRS Bound Volume 2008.

IFAC Seeks Comments on Proposed Translation Strategy

To increase the accessibility of its standards and guidance to accountants worldwide, the International Federation of Accountants (IFAC) Board has approved a proposal to move to one quality translation of IFAC standards per language and to consult with IFAC members, associates and other interested parties on the process to achieve this.

Qualified investors defined

The Federal Financial Markets Service (FFMS) developed criteria of qualified investors - non-professional market participants, already sent to the Ministry of Justice for official registration.

FASB Issues Invitation to Comment, Reducing Complexity in Reporting Financial Instruments

The ITC seeks input from constituents on whether there is a need for the FASB to add a project intended to simplify and improve standards for measurement of financial instruments and, if so, what kind of projects or approaches should be considered. It also requests feedback on the IASB Discussion Paper, which seeks similar information on improving measurement of financial instruments that may also be useful to the FASB.

BAS publishes Discussion Paper on Mortality

Assumptions about future mortality rates are required in many actuarial calculations. They play a significant role in the costs of pensions and the solvency of life insurance companies. Substantial increases in life expectancies have occurred in recent decades but there is a lack of consensus about future mortality trends. Recent trends may or may not continue but what is clear is that long-established principles and practices in these calculations and their presentation need to be re-examined.

Minfin goes hard on larger entities

The Ministry of Finance of the Russian Federation proposed to cut numbers of those enjoying special tax regimes and simplified tax accounting in Russia. Again, this is what in its plans for tax policy for the years 2009-2011. This document is about to be reviewed by Russia’s government at the very beginning of April.

Minfin wants profit tax from foreign entities

The Ministry of Finance of the Russian Federation has come with the following idea: whenever there is a permanent establishment of foreign entity and whenever there’s no connection with a defined place of work in the Russian Federation, then it is possible to levy tax on profit of this entity. At least, this is what follows from its basic plans for tax policy for the years 2009-2011, already discussed and sent to Russia’s government for its further consideration. This document may be reviewed on the 3rd of April.