International


INTERNATIONAL

Public ownership of banks stimulates banking-sector strength and resilience in the face of economic disruptions, says a new study by the World Bank ( www.worldbank.org/research/interest/policyresrpt.htm ).

Research by the European Federation of Accountants reveals that in nearly half the countries it surveyed, there is no system for enforcing accounting standards ( www.fee.be/publications/LatestPubs.htm ).

Speaking at a conference in Oslo, an SEC official proposes the International Accounting Standards Board lead national standard-setting bodies toward adopting the highest quality standards possible ( www.sec.gov/news/speech/spch494.htm ).

The Organisation for Economic Cooperation and Development adopts IFAC’s public-sector accounting standards for its own financial reporting. IFAC’s objective in issuing the standards was to improve decision-making, financial management and accountability by the world’s governments ( www.ifac.org/News/LastestReleases.tmpl?NID=99185632316518 ).

The European Federation of Accountants says current accounting directives need to be modernized before European companies can apply international accounting standards ( www.fee.be/publications/LatestPubs.htm ).

The United Kingdom’s accounting standards board publishes an exposure draft of an amendment to its financial reporting standard for smaller entities ( www.asb.org.uk ).

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

News quiz: Taking an economic snapshot and looking to the future

Recent news included IRS actions that affect individuals and partnerships and a possibly influential move by a Big Four accounting firm.Take this short quiz to see how much you know about the news.