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IFRS

IASB Chairman Expects SEC to Approve IFRS

01/30/2012 - 15:22 - 654 reads

Speaking at a seminar in Moscow on IFRS, Hans Hoogervorst, Chairman of the IASB, said that he expected the IASB and the FASB to make progress on their remaining convergence projects in the coming year. Hoogervorst also predicted that the SEC would eventually approve IFRS for US companies.

FEI Top Challenges For CFOs in 2012

01/02/2012 - 15:15 - 607 reads

FEI has released the list chosen by its President and CEO, Marie N. Hollein, as the top challenges facing financial executives in 2012.

FEI

FEI Launches Japan Chapter; First Event Feb. 22

12/23/2011 - 13:37 - 375 reads

FEI is pleased to announce the launch of a new international chapter, FEI Japan! The inaugural event, set to take place on Feb. 22, 2012, will kick off with an a.m. roundtable hosted by FEI Japan and Keidaren (Japan Business Federation), entitled "Technical Roundtable on IFRS and How It Relates to the U.S. and Japan." Following the morning roundtable, there will be an afternoon session with representatives of U.S. and Japan National corporations on discussing the impact of the IASB's Lease accounting and Revenue Recognition proposals.

FEI

FEI Launches Japan Chapter; First Event Feb. 22

12/23/2011 - 13:37 - 301 reads

FEI

IFRS Foundation Names Prada Chair

12/12/2011 - 13:17 - 763 reads

The IFRS Foundation, which oversees and fundraises for the IASB, announced today the appointment of Michel Prada as Chairman of the IFRSF Board of Trustees.

FEI

IFRS Update: SEC Decision on Adopting IFRS Still Months Away

12/12/2011 - 12:42 - 1975 reads

James Kroeker, the SEC chief accountant, said last week that the SEC staff will need "at least a few more months" to complete its work on a report to the commission that will show the impact of adopting IFRS on US companies and capital markets. The SEC will study the staff report before making a decision.

IASB's Hoogervorst: SEC's IFRS Decision Cannot Be 'Convergence By Another Name'

12/07/2011 - 23:08 - 507 reads

Building on an earlier speech delivered in Melbourne, Australia in November, in which he called upon the U.S.

FEI

SEC Delays IFRS Decision By 'A Few Additional Months"

12/07/2011 - 23:01 - 486 reads

The SEC's Chief Accountant, Jim Kroeker, told an AICPA conference on Dec. 5, 2011 that the SEC staff's report on International Financial Reporting Standards, completing the SEC Staff's Work Plan requested by the Commissioners to inform their decision on whether to permit or require public companies to report to the Commission using IFRS instead of U.S. Generally Accepted Accounting Principles, will take 'a few additional months."

FEI

SEC Staff Issue Two Reports On IFRS

11/17/2011 - 17:49 - 495 reads

This afternoon, the SEC staff issued two reports on IFRS, comparing U.S. GAAP and IFRS, and an analysis of IFRS in practice.

FEI

SEC's Kroeker Questions IFRS 'Option;' Staff Reports on IFRS Coming

11/15/2011 - 17:50 - 681 reads

In remarks at FEI’s Current Financial Reporting Issues (CFRI) conference earlier today, SEC Chief Accountant Jim Kroeker, appeared to indicate he would personally question whether to offer an ‘option’ for U.S. public companies to report in IFRS, vs. a firm requirement to do so over a transition period, if the SEC were to move in that direction.

Note 1: this was my take on one point raised by Kroeker; see disclaimer posted on the right side of this blog, read his verbatim quote below. Note 2: my use of the phrase 'report in IFRS' may be an overly short-hand reference, since the more recent thinking of the SEC, as discussed in its Staff Paper on 'Condorsement' released in May 2011, focuses on the incorporation of IFRS into the U.S. financial reporting system via ongoing endorsement of IFRS by the FASB, and that concept, combined with comments filed with the SEC today by the Financial Accounting Foundation (which oversees the FASB) may - the operative term being, may - indicate a more gradual move to 'incorporating' IFRS into U.S. GAAP, perhaps lessening the potential impact of an on-off 'switch' from U.S. GAAP to IFRS.

FEI

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Editor's Note

AccountingWEB.com has teamed with AccountingWEB.co.uk to bring our readers information relating to Internationanl Financial Reporting Standards, XBRL, and the activities of the IASB and the SEC on this front. In the months and years ahead, we will provide you with commentary from experts around the world.

To launch this new area of our site, we are presenting you with a technical library of documents, created by UK's Steve Collings, breaking down the IFRS into understandable language.

Regards to all,
Gail Perry, CPA
Editor-in-Chief, AccountingWEB
editor@accountingweb.com


Reclaiming US tax deducted from sale of shares for a UK resident tax payer


IASB Chairman Expects SEC to Approve IFRS	654
FEI Top Challenges For CFOs in 2012	607
FEI Launches Japan Chapter; First Event Feb. 22	375
FEI Launches Japan Chapter; First Event Feb. 22	301
IFRS Foundation Names Prada Chair	763