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  • IASB publishes final version of IFRS 9

    Jul 24, 2014

    The International Accounting Standards Board (IASB) has published the final version of IFRS 9, "Financial Instruments," bringing together the classification and measurement, impairment and hedge accounting phases of the IASB's project to replace IAS 39, "Financial Instruments: Recognition and Measurement." This version adds a new expected loss impairment model and limited amendments to classification and measurement for financial assets. The Standard supersedes all previous versions of IFRS 9 and is effective for periods beginning on or after January 1, 2018.

  • TRG discusses implementation of new revenue standard

    Jul 22, 2014

    At its July 18, 2014, inaugural meeting, the joint revenue transition resource group (TRG) and FASB and IASB board members discussed potential issues related to implementing the boards’ new revenue standard.

  • PCAOB and DBA enter into cooperative agreement

    Jul 22, 2014

    The PCAOB and the Danish Business Authority (DBA) have entered into a cooperative agreement regarding the oversight of audit firms subject to the regulatory jurisdictions of both regulators.

  • Highlights from the FASB’s July 16 meeting

    Jul 21, 2014

    At its July 16, 2014, meeting, the FASB discussed its projects related to (1) the principal versus agent analysis, (2) EITF consensuses, and (3) short-duration insurance contracts.

  • New issue of “FASB Outlook” published

    Jul 17, 2014

    The FASB has published the latest issue of its quarterly e-newsletter, "FASB Outlook," which provides high-level information about the FASB’s projects and key activities.

  • PCC holds July 2014 meeting

    Jul 16, 2014

    At its meeting yesterday, the Private Company Council (PCC) discussed its proposal on identifiable intangible assets, which would give private companies the option of recognizing fewer intangible assets in a business combination.

  • Boards release agenda for inaugural meeting of revenue recognition transition resource group

    Jul 09, 2014

    The agenda has been released for the upcoming inaugural meeting of the FASB’s and IASB’s revenue recognition transition resource group (TRG), which is scheduled for July 18, 2014. The TRG will discuss a number of topics related to the boards’ new revenue standard, “Revenue From Contracts With Customers” (issued as ASU 2014-09 by the FASB and IFRS 15 by the IASB).

  • Summary of the ASAF June meeting

    Jul 03, 2014

    The IASB has posted to its Web site a summary of the Accounting Standards Advisory Forum (ASAF) June 2014 meeting. During the meeting, ASAF members discussed various IASB projects, such as the disclosure initiative, the equity method of accounting, insurance contracts, macro hedging, and the conceptual framework.