Новости

GASB updated its definition of fair value for government entities

The Governmental Accounting Standards Board (GASB) recently updated its formal definition for fair value and explained how it has to be measured and disclosed in financial accountancy of federal and municipal government entities.

IASB board member presents an overview of IFRS global adoption

One of the acting members of the International Accounting Standards Board Philippe Danjou wrote a short overview “Finance & Gestion” (also available in French) on global adoption of international financial accounting standards around the world.

Oil exports for roubles? Russia wants to give it a try

Russia’s vice-prime minister Arkady Dvorkovich informed recently that they with oil exporters were in the course of discussion of a possibility to start selling oil and its products for roubles.

Going bankrupt in the American way

The “Bad agency” (“Bad bank”) idea was completely abandoned as a possible solution for the bad assets problem in Russia because of potentially high expenses its implementation is associated with. We used to mention that interested stakeholders were working on the idea taking the American bankruptcy laws as an example. They have in mind Chapter 11 of the United States Bankruptcy Code.

IPSASB okays final recommendations of its Governance Review Group

The International Public Sector Accounting Standards Board (IPSASB) approved final recommendations of its Governance Review Group which was created to evaluate possible approaches to the future governance reform.

GAAP-IFRS.COM Digest: 23-27 February 2015

Revenue recognition standard: more divergences on the way

With minor differences ignored, the revenue recognition standard which was published jointly by the IASB and the FASB in May 2014 could be called fairly converged. However, that arbitrary list of minor differences is ready to be supplemented with more significant ones, causing US GAAP and IFRSs go father in opposite directions. Not long ago, on 18 February, two main global standard setters held a joint meeting at which they approved certain amendment to the revenue recognition standard. Here are some details on that.

Non-financial corporate accounting: table of all possible connections

The Climate Disclosure Standards Board (CDSB) recently published its “Making the connections” table this week in which it showed how most popular approaches to integrated accounting may be interrelated. Understandably, this should make transition much easier for companies which have never tried integrated (or sustainable) accounting before.

Recognizing unearned profits in OCI – ASBJ’s view

The next meeting of the Accounting Standards Advisory Forum (ASAF) is to take place on 26-27 of March in London, in the IASB’s HQ. Before that the Accounting Standards Board of Japan has plans to consult on one of its recent ideas. For that it today presented a new discussion document.

New “Investor Perspective” on insurance contracts published by the IASB

The International Accounting Standards Board recently presented a new issue of its traditional “Investor Perspective” series on the subject of insurance accounting. In today’s publication one of the IASB board members Steve Cooper shares some information on updates of the ongoing work. He distinguishes four main key decisions the IASB made so far as part of its program to solve current accounting issues.