Новости

FASB finally simplified accounting for goodwill and interest rate swaps for private companies

Yesterday the US Financial Accounting Standards Board (FASB) issued amendments to two accounting standards US GAAP, thus allowing private companies to account for goodwill and interest rate swaps by an alternative simplified approach.

New teaching materials published by the IFRS Foundation

The IFRS Foundation Education Initiative published the second part of its teaching materials on IFRS. We remind that the first part was issued last year’s October.

EFRAG published results of field-tests on insurance contracts

In June 2013 the International Accounting Standards Board issued a revised version of the standard on insurance contracts. Starting from July and until October the European Financial Reporting Advisory Group was holding field-tests of its practical application together with European national accounting regulators.

State Duma of Russia approved mandatory external audit of political parties’ financial accountancy

In order to increase transparency of funding mechanisms of political parties, the draft law provides mandatory external audit of financial accountancy of those parties which received state financing, also of the ones which get more than 60 million roubles or more in donations each year or which spend 60 million roubles or more within a year.

Japan simplified disclosures in separate accountancy

The Financial Services Agency of Japan (FSA) has published its suggestions on simplification of information disclosure in separate accountancy which is prepared under Japanese GAAP. The decision follows last year’s recommendations by the Business Accounting Council (BAC).

FRC liked the IASB’s Discussion document, although urged to bring back certain concepts

We remind that the IASB’s Discussion Papers on the Conceptual Framework currently being developed was issued in July 2013. The document contained a number of principles upon which the IASB would develop and review international financial reporting standards in the future. With that, by the way, the Board coped almost perfectly if what FRC’s experts say is true.

Russia may raise tax on dividends

It is possible that dividends in Russia will be taxed at a higher rate – 13% instead of 9%, just like “normal” salary income. This was proposed by the Ministry of Finance represented by its deputy minister Sergei Shatalov.

IVSC issued a draft version of its new guidance on valuation bases

Last week the International Valuation Standards Council (IVSC) published a draft version of its new illustrative guidance with examples for practicing appraisers who apply international valuation standards in their work.

ACCA will be the first one to include integrated reporting into its qualifications

For the first time ever accounting students who study by learning programs of the Association of Chartered Certified Accountants will be examined for their knowledge of integrated reporting. Starting from December 2014 <IR> will become a permanent discipline of the ACCA’s qualification.

Banks will have to return all money stolen from plastic cards

The new law on the National payment system will oblige banks in Russia to return all money which was unduly withdrawn from their clients’ accounts without any reservation. The other thing is that banks are not particularly ready for such perspective yet.