In this AICPA publication, prominent experts on IFRS have selected top articles and whitepapers, added commentary, and guide you through five major IFRS considerations.
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November 13, 2009 – Risk.net reports that a key advisory panel to the European Commission has delayed endorsement of IFRS 9 Financial Instruments, which was issued yesterday. The IASB rushed issuance of the standard so companies could adopt the rule for 2009 reporting. Without the endorsement, European companies will not be able to adopt the standard this year.
November 12, 2009 – The International Accounting Standards Board (IASB) issued today a new International Financial Reporting Standard (IFRS) on the classification and measurement of financial assets. Publication of the IFRS represents the completion of the first part of a three-part project to replace IAS 39 Financial Instruments: Recognition and Measurement with a new standard – IFRS 9 Financial Instruments. (IASB.org)
November 5, 2009 – At their joint meeting last week, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) reaffirmed their commitment to improve International Financial Reporting Standards (IFRS) and U.S. generally accepted accounting principles (U.S. GAAP) and to bring about their convergence. The Boards also agreed to intensify their efforts to complete the major joint projects described in their 2006 Memorandum of Understanding (MoU), as updated in 2008. (FASB.org) (IASB.org)
November 5, 2009 – The International Accounting Standards Board (IASB) today published for public comment an exposure draft on the amortized cost measurement and impairment of financial instruments. The proposals form the second part of a three-part project to replace IAS 39 Financial Instruments: Recognition and Measurement with a new standard, to be known as IFRS 9 Financial Instruments. (IASB.org)
September 24, 2009 – The AICPA Examinations Team is seeking professionals with solid skills and knowledge in International Financial Reporting Standards (IFRS) to develop or review questions ("items") on IFRS for the Uniform CPA Examinations. Learn more.
As the U.S. continues its debate about a move to IFRS, there is concern about support for the IASB in Europe. European officials have voiced displeasure with the speed and direction of fair value reforms. Do you believe Europe will ultimately back the IASB? Also, do you believe the IASB and FASB will be able to come together on accounting standards for financial instruments?
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The American Institute of Certified Public Accountants (AICPA) has recently issued a background document on International Financial Reporting Standards (IFRS). Read a brief overview by clicking on the links below – • Get Ready for IFRS |
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