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September 1, 2012 |  BY Ken Tysiac |  Article

The future of international accounting standards for U.S. public companies remains uncertain after the release in July of a long-anticipated SEC analysis of IFRS. In a 127-page report released on the final day of Chief Accountant James Kroeker’s tenure, the SEC staff said the global financial reporting community considers the standards produced by the International Accounting Standards Board (IASB) to be of high quality despite areas that need further development.

September 1, 2012 |  BY Ken Tysiac |  Article

The future of international accounting standards for U.S. public companies remains uncertain after the release in July of a long-anticipated SEC analysis of IFRS. In a 127-page report released on the final day of Chief Accountant James Kroeker’s tenure, the SEC staff said the global financial reporting community considers the standards produced by the International Accounting Standards Board (IASB) to be of high quality despite areas that need further development.

September 1, 2012 |  BY Ken Tysiac |  Article

The future of international accounting standards for U.S. public companies remains uncertain after the release in July of a long-anticipated SEC analysis of IFRS. In a 127-page report released on the final day of Chief Accountant James Kroeker’s tenure, the SEC staff said the global financial reporting community considers the standards produced by the International Accounting Standards Board (IASB) to be of high quality despite areas that need further development.

August 1, 2012 |  Article

Accounting standard setters have agreed on a lessee accounting approach, setting the stage for a lease accounting exposure draft in the fourth quarter this year. FASB and the International Accounting Standards Board (IASB) previously agreed that leases should be recorded on the balance sheet, but have been debating the classification and pattern of expenses in the income statement.

August 1, 2012 |  Article

Accounting standard setters have agreed on a lessee accounting approach, setting the stage for a lease accounting exposure draft in the fourth quarter this year. FASB and the International Accounting Standards Board (IASB) previously agreed that leases should be recorded on the balance sheet, but have been debating the classification and pattern of expenses in the income statement.

August 1, 2012 |  Article

Accounting standard setters have agreed on a lessee accounting approach, setting the stage for a lease accounting exposure draft in the fourth quarter this year. FASB and the International Accounting Standards Board (IASB) previously agreed that leases should be recorded on the balance sheet, but have been debating the classification and pattern of expenses in the income statement.

April 16, 2012 |  BY Ken Tysiac |  Article

A study the SEC prepared for Congress describes options for lawmakers to consider but makes no specific recommendations regarding whether private causes of action should be allowed to be extended to extraterritorial securities fraud claims. The U.S. Supreme Court held in Morrison v. National Australia Bank, Ltd., 130 S.

February 21, 2012 |  BY Ken Tysiac |  Article

An SEC decision on the use of IFRS by U.S. public companies is still a “few” months away, SEC Chief Accountant James Kroeker indicated Monday. At an IFRS Advisory Council meeting in London, Kroeker declined to get more precise because he wants the SEC staff focused on completing a report on the issue rather than on a deadline.

February 16, 2012 |  BY Ken Tysiac |  Article

Investors no longer will include the value of their home in the net worth calculation that can determine whether registered investment advisers can charge them performance fees, the SEC announced Wednesday. SEC rules allow registered investment advisers to charge performance fees if the client’s assets managed by the adviser or the client’s net worth meets certain thresholds.

January 24, 2012 |  BY Ken Tysiac |  Article

International Accounting Standards Board (IASB) Chairman Hans Hoogervorst predicted in a speech in Moscow on Monday that the SEC will adopt IFRS for U.S. issuers. Hoogervorst doesn’t have any privileged insight regarding the SEC’s internal decision-making, according to the speech posted on the IFRS Foundation’s website. But he said that he and FASB Chair Leslie Seidman think continuing the current process of pursuing convergence on individual projects is not an acceptable way forward.