Accounting Standards
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IFRS Foundation Seeks Advisory Council Members
The Trustees of the IFRS Foundation are seeking applications for membership of the IFRS Advisory Council, after the terms of a number of its members expire at the end of 2014. The primary objective of the Advisory Council is to provide a forum where the IASB and the Trustees consults individuals and representatives of organizations that are affected by its work and are committed to the development of high quality International Financial Reporting Standards (IFRSs).
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New IFRS Research Center Launched
The International Accounting Standards Board (IASB), the independent standard-setting body of the IFRS Foundation, has launched its web-based IFRS Research Center.
New XBRL GAAP Pension Analysis Tool Finds Errors in SEC Filings
XBRL US has announced the publication of its new online US GAAP Pension Analyzer. The tool is available for free to public company reporting managers that runs a set of rules against the pension disclosure within an XBRL-formatted financial statement. XBRL US is the nonprofit consortium for XBRL reporting in the US.
FASB Offers New Guidance for Reporting on Discontinued Operations
The Financial Accounting Standards Board (FASB) has issued new guidance that improves U.S. Generally Accepted Accounting Principles (GAAP) by more faithfully representing when a company or other organization discontinues its operations.
GASB Issues Statement on Measurement of Assets and Liabilities
The Governmental Accounting Standards Board (GASB) has issued Concepts Statement No. 6, Measurement of Elements of Financial Statements, which will guide the GASB in establishing accounting and financial reporting standards for U.S. state and local governments regarding the measurement of assets and liabilities.
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New Tablet Version of GASB Research System Launched
The Financial Accounting Foundation (FAF) today announced the release of a version of the GASB Governmental Accounting Research System that has been designed for use on tablet devices.
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New GASB Pension Standards Start June 15, 2014
New accounting standards for pensions will go into effect after June 15, 2014, the Governmental Accounting Standards Board has announced.
FASB Issues Update for Private Companies on Consolidation of Variable Interest Entities
The Financial Accounting Standards Board has issued guidance intended to improve private company financial reporting regarding consolidation of lessors in certain common control leasing arrangements.