The AICPA said FASAB's new authority means that, for the first time, the federal government will be able to report its financial position according to accounting standards
widely recognized by CPAs.
Investors are also represented on the Financial Accounting Standards
Board Advisory Council (FASAC), FASB's Emerging Issues Task Force (EITF) and in FASB's project resource groups.
Comments on the July 2000 IASC (International Accounting Standards
Committee) Discussion paper produced in collaboration with other national standard-setters, were received from constituents around the world during the original comment period that ended in Oct.
According to IASC secretary general Sir Bryan Carsberg, publication of the standard fills the "biggest void" in accounting standards
in virtually every one of the 103 member countries of the IASC.
The big question is what to start with," says Norman Strauss, Ernst & Young's national director of accounting standards
and member of the Standards Advisory Council (SAC), an advisory group to the IASB.
The AICPA agreed that the IASC's primary objective should be developing accounting standards
"that provide transparency and comparability of information useful to investors and lenders"
85 percent of the CFOs favor uniform global accounting standards
What CPAs need to know about the new comprehensive set of federal accounting standards
What we have to keep in mind is that global accounting standards
are necessary and appropriate for globally operating companies.
that he supports the initiative of the International Accounting Standards
Committee (IASC) to develop a core set of accounting standards
for cross-border securities listings.
The report includes several recommendations for actions by the Financial Accounting Standards
The jostling about accounting standards
for private companies continued last month as the Financial Accounting Foundation (FAF), the overseer of U.
In April 200l, the International Accounting Standards
Board (IASB), an independent accounting standard
-setter based in London, assumed accounting standard
-setting responsibilities from its predecessor body, the International Accounting Standards
As he begins his second five-year term as Chairman of the International Accounting Standards
Board (IASB), Sir David Tweedie spoke about his first term and his expectations going forward.
Contract Pricing and Cost Accounting Standards
(DFARS Case 2003-D014)