SEC Chief Accountant Questions Convergence by June 2011
A recent Journal of Accountancy article states that the SEC Chief Accountant Jim Kroeker would support the FASB’s cutting the number of convergence projects due for completion in 2011. Here’s one...
View ArticleWhat a Week!
I have been in residence at the FASB for one week and I must admit that my head is spinning with all the opportunities to get involved. I want to do them all! It’s been quite a first week. The day...
View ArticleSEC Issues its First Progress Report on the IFRS Work Plan
As announced on Oct 29, 2010, the SEC released its first progress report on the Work Plan which will lead up to the Commission’s decision in 2011 on whether and how to incorporate IFRS into the US...
View ArticleCritique of potential IFRS monopoly
I just read an insightful, if not provocative, paper on the shortcomings of a potential IFRS monopoly. The paper entitled, “IFRS Monopoly: The Pied Piper of Financial Reporting,” is written by Shyam...
View ArticleSome Views from CFOs on Financial Reporting Issues
Grant Thornton recently issued a white paper that reports results of a survey (318 respondents) they conducted with some CFOs from both private and public companies (authors of the paper are John Hepp...
View ArticleSir David Tweedie is an “Accounting Rock Star”
…or so says The Economist in this article. While I generally think highly of the The Economist, this article contains one of my pet peeves, which is a loose discussion of fair value. In particular, the...
View ArticleSEC Roundtable on IFRS
On Thurs, July 7, the SEC will hold a roundtable on International Financial Reporting Standards. The agenda (available here) looks to cover aspects of the Work Plan with particular emphasis on...
View ArticleInternational Convergence
The deadline for the SEC to make a decision on whether or not to accept IFRS for domestic issuers is drawing near. Obviously, this is an important decision that will have tremendous implications for...
View ArticleMore on International Convergence
Bob Lipe blogged last week on the SEC’s release of two documents related to their exploration of whether/how to integrate IFRS into US GAAP. Since the release of those documents, the SEC, IASB, and...
View ArticleInsurance Accounting: More evidence on the viability of true convergence
In a report this past April to the Financial Stability Board, the FASB makes this statement about accounting convergence: The FASB believes that the ultimate goal of convergence is a single set of...
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