The IASB published for public comment a revised set of proposals for the impairment of financial instruments. The proposals are intended to develop a more forward-looking provisioning model, which recognizes expected credit losses on a more timely basis. read more

MAR 7, 2013 - 6:35 am

A new study shows that contrary to claims by the banking industry, the fair value approach to valuing financial instruments is a far more accurate indicator of a bank’s risk of failure. read more

FEB 22, 2013 - 7:15 am

FASB issued for public comment a proposal to improve financial reporting by providing a comprehensive measurement framework for classifying and measuring financial instruments. read more

FEB 19, 2013 - 7:35 am

In an article that appeared in CFO magazine, the author notes that the latest exposure draft on accounting for credit losses from FASB could bring sweeping changes to the way banks account for credit losses on their balance sheets. read more

FEB 11, 2013 - 7:25 am

Grant Thornton noted in a recent report that although 78% of businesses hold leases, only 42% are aware of the proposed global changes in lease accounting standards. read more

FEB 1, 2013 - 7:32 am

CFO reported that a new proposal by FASB should eliminate the accounting allowances that made it easy for Lehman Brothers and MF Global to mislabel short-term loans, otherwise referred to as repurchase agreements, or "repos." read more

JAN 21, 2013 - 7:25 am

The Financial Times reported that the global push by accounting rule makers to force companies to recognize their true exposure to leasing obligations is facing increasing resistance from Europe. read more

JAN 2, 2013 - 7:35 am

CFO reported that the IASB said it needs to better clarify definitions of assets and liabilities for debt instruments. Clearer definitions could make for easier accounting for U.S.-based multinationals that report under IFRS. read more

JAN 2, 2013 - 7:00 am

Reuters reported that Mary Stone, a trustee that governs the U.S. accounting standard-setting board has resigned after the SEC charged her in a case involving toxic mortgage-backed assets. read more

DEC 26, 2012 - 7:25 am

Bloomberg reported that banks’ loan-loss reserves may jump about 50% under a proposed U.S. accounting-rule change that redefines how quickly firms must recognize bad debts. read more

DEC 21, 2012 - 7:30 am

CFO reported that international financial reporting standards could become more popular, forcing the SEC to listen to foreign standards-setters. read more

DEC 18, 2012 - 7:30 am

Reuters reported that the London-based ICAEW called for the first time for the IASB, whose rules are used in over 100 countries, to end a decade-long "convergence" project with its U.S. counterpart, the FASB. read more

DEC 12, 2012 - 7:25 am

Accounting Today reported that FASB chair Leslie Seidman and IASB chair Hans Hoogervorst appeared together at an American Institute of CPAs conference to discuss what went awry in U.S. support for International Financial Reporting Standards. read more

DEC 5, 2012 - 7:25 am

In a recent speech, Hans Hoogervorst, chairman of the IASB, said lobbying by the leasing industry meant the IASB and FASB are still "facing an uphill battle" and warned, "We will need all the help we can get to ensure we don’t get lobbied off course." read more

NOV 8, 2012 - 7:35 am

According to an article posted by Accounting Today, FASB chair Leslie Seidman is quoted as saying, “We are substantially converged on the leasing proposal from top to bottom.” read more

OCT 29, 2012 - 7:35 am