TITLE

Convergence's End Will Bring Opportunities

AUTHOR(S)
Herz, Robert
PUB. DATE
September 2013
SOURCE
Compliance Week;Sep2013, Vol. 10 Issue 116, p1
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article presents the author's views about the end of the convergence program between the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). It says that the initiative led to converged standards on several topics including fair-value measurements, employee stock compensation, and accounting for business combinations. It notes the challenges and opportunities of the program's completion to the country's financial reporting system.
ACCESSION #
90223269

 

Related Articles

  • A World of Fair Value. Pounder, Bruce // Strategic Finance;Aug2011, Vol. 93 Issue 2, p15 

    The article discusses changes in the fair-value provisions of the U.S. Financial Accounting Standards Board and the International Accounting Standards Board. With these changes, U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards have become almost alike...

  • The Debate over Fair Value Reporting. Jordan, Charles E.; Clark, Stanley J.; Pate, Gwen R. // CPA Journal;Feb2013, Vol. 83 Issue 2, p46 

    The article reports that the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been slowly shifting from historical cost to fair value reporting for the past several decades. The two bodies have made known that fair market value is the...

  • Fair-value changes loom for alternative funds. Jacobius, Arleen // Pensions & Investments;7/26/2010, Vol. 38 Issue 15, p4 

    The article offers information on the changes in the Fair-value accounting laid by Financial Accounting Statement 157 and its impact on investment and private equity managers and venture capitals. It states that the new proposal will expect the managers to answer the asset's value and methods...

  • What's fair? Dealy, Nigel; Singleton-Green, Brian // Accountancy;Jun2007, Vol. 139 Issue 1366, p77 

    In this article the authors examine proposals made in 2007 by the International Accounting Standards Board (IASB) to redefine the accounting term "fair value." The IASB opinion reflects that of the U.S. Financial Accounting Standards Board, according to the authors. Opinions on fair value, as...

  • Expensing Stock Options Debate Heats Up.  // Practical Accountant;Sep2002, Vol. 35 Issue 9, p24 

    Reports that Financial Accounting Standards Board has issued plans concerning the accounting for employee stock options. Proposal of the International Accounting Standards Board (IASB) which would require companies using IASB standards to recognize the fair value of employee stock options...

  • IASB Vows Quick Financial Instruments Reform. Baker, Neil // Compliance Week;Jul2009, Vol. 6 Issue 66, p60 

    The article reports on the proposals published by the International Accounting Standards Board (IASB) that regards the classification and measurement of financial instruments in the U.S. It notes that the adoption of the proposals would substitute the fair value measurement guidance in...

  • Contract theory. O'Brien, Patricia C.; Scott, William R. // CA Magazine;Apr2012, Vol. 145 Issue 3, p44 

    The article discusses the new financial reporting's conceptual framework (CF) released by the U.S. Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) in 2010 and its relation to the contract theory. It examines the changes in the revised CF and offers...

  • The Fairness of the Fair Value Concept. Kaur, Jasmine // International Journal of Business & Commerce;Nov2013, Vol. 3 Issue 3, p1 

    In recent years, international standard setters and regulators such as the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have begun to favor the use of fair value accounting over historical cost accounting in financial reporting. A key reason...

  • Financial reporting quality: is fair value a plus or a minus? Penman, Stephen H. // Accounting & Business Research (Wolters Kluwer UK);2007 Special Issue, p33 

    In this article the author examines aspects of fair value accounting of assets and liabilities. He notes that the statement of fair value for some assets and liabilities are required under guidelines established by the International Accounting Standards Board and by the U.S. Financial Accounting...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics