Новости

FASB plans to make notes to financial statements more understandable to investors

Yesterday the Financial Accounting Standards Board (FASB) of the USA made great progress in increasing usefulness of financial information disclosed in notes to users of financial statements. The Board it trying to put a conceptual basis under requirements for notes, highlighting information most important to users and getting rid of useless disclosures.

Anonymous electronic payments will be restricted after all

A set of so-called “antiterrorist” amendments to restrict anonymous electronic money transfers was approved by the Russian Cabinet of Ministers, although with certain reservations left to be considered.

Minfin of Russia will punish non-transparent auditors’ SROs

On 7 June 2014 a new provision in the Code of Administrative Violations will come into force in Russia to set punishment for violations committed by self-regulatory organizations of auditors where they are related to their obligations for information disclosure.

EFRAG asked IASB to pay attention to accounting of joint operations structured as separate vehicles

In its recent letter to the International Accounting Standards Board the European Financial Reporting Advisory Group (EFRAG) asked the international standard setter to pay more attention to problems with accounting for participation in joint operations structured as separate vehicles in separate financial accountancy.

GASB proposed a new hierarchy for accounting rules

The Government Accounting Standards Board (GASB) recently provided suggestions which are aimed to help federal and municipal government authorities of the USA with proper identification of financial accounting standards and rules.

Restrictions on in-cash settlement of payments delayed

The Minfin’s development of the draft law which will restrict in-cash settlement of payments is temporary suspended. It was earlier assumed that the bill would soon be presented for the parliament’s consideration, but the decision was delayed without a clearly stated date to resume the work.

Deloitte comments on the new IVSC guidance on credit risk

In November 2013 the International Valuation Standards Council (IVSC) issued a new guidance on valuation of companies’ own credit risk (the term used for that is “Debt Valuation Adjustment” - DVA) as well as credit risk of counteragents (“Credit Valuation Adjustment” - CVA).

GAAP-IFRS.COM Digest: 24-28 February

Australian lawmakers published a staff paper on materiality

The Australian Accounting Standards Board (AASB) recently published a new paper on materiality of financial disclosures. Among other things the document examines today’s critics of so-called “disclosure overload” the issue of which is most often raised in connection to the IASB’s international standards. The AASB gives temporary recommendations to preparers for the short-term perspective.

PCAOB will hold the next public roundtable on the proposed auditor’s reporting model

The Public Company Accounting Oversight Board (PCAOB) scheduled the next public roundtable for 2-3 April, to be held in Washington D.C. It now solicits views on the new reporting model which it proposed in August 2013.