Archive for the ‘IFRS’ Category

SEC Vote Reveals Likely IFRS Implementation Date

February 25, 2010

Via The Journal of Accountancy

The Securities and Exchange Commission voted unanimously on Wednesday on a new timeline for implementation of International Financial Reporting Standards for all US Public Companies.  The action calls for more study on the change from US Generally Accepted Accounting Principals, but envisions 2015 as the earliest date for implementation.

 

Following is a video of SEC Chairman Mary Schapiro’s statement regarding the vote:

FASB Calls for More Study on IFRS

March 15, 2009

Via the Journal of Accountancy

The Financial Accounting Standards Board (FASB) are calling on the SEC for additional study on the possible shift of US accounting standards to International Financial Reporting Standards (IFRS).  A comment letter from the organization said the SEC should allow limited early adoption of IFRS by US public companies only after there is a decision that all US public companies will ultimately be required to adopt IFRS.

Guide to Major Accounting Changes for 2009

January 22, 2009

Via the AICPA’s IFRS Smart Brief:

Accountants are facing a series of major changes to standards and practices in 2009, and this roundup explains the developments, deadlines and possible detours. However, peripheral developments, such as new leadership at the Securities and Exchange Commission, could significantly alter the course of the pending changes. CFO Magazine (01/2009)