International


INTERNATIONAL
The International Public Sector Accounting Standards Board of the International Federation of Accountants (IFAC) issued an exposure draft of a proposed new International Public Sector Accounting Standard (IPSAS) on employee benefits. ED 31 is based on IAS no. 19, Employee Benefits, and addresses short-term employee benefits, post-employment benefits, other long-term employee benefits and termination benefits. Comments may be e-mailed to publicsectorpubs@ifac.org by February 28, 2007. The draft is available at www.ifac.org/EDs .

The World Federation of Exchanges (WFE) endorsed the processes the International Auditing and Assurance Standards Board (IAASB) uses for establishing international standards on auditing (ISAs), according to a statement by IFAC. The WFE represents 57 securities and derivative markets that account for more than 97% of world stock market capitalization. More than 100 countries have adopted or incorporated ISAs into their national auditing standards or use ISAs as a basis for preparing national auditing standards. All IAASB standards and guidance are available free from IFAC at www.ifac.org/store .

SPONSORED REPORT

How the election may affect taxation of business income

This report summarizes recent proposals to reform the U.S. business income tax system and considers the path to enactment of any such legislation.

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

Did you follow 2016’s biggest accounting news?

CPAs will remember 2016 as a year of new standards and new faces. How well did you follow the biggest accounting events? The 7 questions in this quiz will help you find out