International Financial Reporting Standards

TOPICS / ACCOUNTING & REPORTING

December 6, 2016

Will Brexit, Trump affect global accounting standards?

Political decisions that may affect cross-border business policies in the United States and the United Kingdom have so far had no effect on international accounting standards, Hans Hoogervorst said.

December 5, 2016

Why IFRS remains relevant in the U.S.

Knowledge and understanding of IFRS is important in the United States even though FASB’s standard-setting process best serves U.S. capital markets, SEC Chief Accountant Wes Bricker said.

July 13, 2016

How to tackle implementation of multiple high-profile accounting standards

New high-profile accounting standards for revenue recognition, leases and expected credit losses have companies facing a heavy implementation burden. Here are tips that could ease the stress and make implementation smoother.

May 1, 2016

Hoogervorst reappointed as IASB chairman

His first term brought significant new standards.

April 1, 2016

Bringing leases into view

New lease accounting standards issued by FASB and the International Accounting Standards Board will result in substantial changes in recognition and presentation on the balance sheet for lessees.

April 1, 2016

IASB requires disclosures about debt financing

The board responded to questions about changes in debt.

March 1, 2016

IASB issues leases standard; FASB to follow

Convergence project puts more leases on books.

March 1, 2016

The bilingual CPA

More situations arise that call for CPAs to be fluent in IFRS and U.S. GAAP.

February 12, 2016

Hoogervorst reappointed as chairman of IASB

Hans Hoogervorst will serve a second five-year term as chairman of the International Accounting Standards Board.

February 1, 2016

China explores ways to expand IFRS use

Full convergence is a goal.

February 1, 2016

IASB proposes 4 amendments

The board considers annual improvements and its investment property standard.

February 1, 2016

SEC discusses supplemental IFRS plan

The option would permit U.S. issuers to provide information in addition to U.S. GAAP.

January 29, 2016

IFRS amendments require disclosures about debt financing liabilities

Investors had requested more information about changes in companies’ debt.

January 12, 2016

IASB issues leases standard; FASB to follow

The International Accounting Standards Board issued a new accounting standard that will bring all lease assets and liabilities onto the balance sheet.

January 1, 2016

IASB presents its view of materiality

FASB also is working to clarify the concept for preparers.

December 18, 2015

Revenue recognition clarifications affirmed by FASB, IASB

FASB and the IASB have agreed to clarify principal vs. agent guidance contained in the converged revenue recognition standard.

December 9, 2015

SEC discussing supplementary IFRS option for US issuers

The SEC is considering regulatory changes that would make it possible for U.S. public companies to provide IFRS-based information as a supplement to U.S. GAAP financial statements.

November 24, 2015

China explores ways to expand IFRS use

A joint working group is exploring ways to expand the use of IFRS within China, especially for Chinese companies that are internationally oriented.

November 19, 2015

IASB proposes annual improvements, change to investment property standard

In two separate exposure drafts, the IASB proposed changes to its investment property standard and proposed narrow-scope amendments to three other standards.

November 2, 2015

FinREC issues revenue recognition working drafts for informal comment

The AICPA FinREC released nine working drafts for informal comment containing industry-specific considerations and illustrative examples related to implementation of the new revenue recognition standard.

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