A&A news July 2011

A&A

'Hey there, Bob Pozen' YouTube video addresses complexity in financial reporting

Steven Zelin, aka "The Singing CPA," and Edith Orenstein, AccountingWEB blogger for Financial Executives International (FEI), have teamed up to create a music video celebrating the third anniversary of the SEC's Advisory Committee on Improvements to Financial Reporting.
A&A

Private companies, auditors pressure Financial Accounting Foundation for separate standards

Auitors, private company executives, and lenders have submitted comment letters to the Financial Accounting Foundation in support of separate standards for private companies.
Education & Careers

AccountingWEB student scholarship winning essay: Secret agent accountant

Howard G. Telson, AccountingWEB student scholarship winner from The College of New Jersey, shares a clever story about the possible use of smartphone applications.
A&A

IFRS Roundtable: Small public companies and regulators concerned about cost of adopting IFRS

Executives from small public companies and auditors representing regional firms participated in the second panel during the SEC's recent roundtable in Washington that explored the benefits and challenges of adopting International Financial Reporting Standards (IFRS).
A&A

IFRS Roundtable on adoption of IFRS: Investor viewpoint

The Securities and Exchange Commission (SEC), which is responsible for accounting standards in the U.S. and for the protection of investors, has said it will decide by the end of this year whether to adopt International Financial Reporting Standards (IFRS) for U.S. public companies.
A&A

Sage North America announces end of product brand names

"We will be dropping the use of product brand names," said Sage North America CEO Pascal Houillon. Leading Sage brands include Peachtree, Timberline, Accpac and MAS, Simply Accounting, and ACT!.
A&A

GASB to propose changes to accounting for state pensions

The Government Accounting Standards Board (GASB) will propose changes later this month to the method used by most U.S. state and local governments when they report unfunded pension liabilities on their balance sheets. The proposed changes could result in an increase in the amount of liabilities governments will report.