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News

  • FASB announces outreach plan to assess effective date of new revenue guidance

    31 Oct 2014

    At today’s meeting of the FASB/IASB joint transition resource group for revenue recognition, James Kroeker, the FASB vice chairman, announced that the FASB and its staff plan to conduct further outreach with both public and private companies over the next several months to gauge their progress in preparing to implement the guidance in ASU 2014-09 (equivalent to the IASB's IFRS 15 revenue standard).

  • KASB and FASB hold joint meeting

    31 Oct 2014

    Representatives of the Financial Accounting Standards Board (FASB) and the Korea Accounting Standards Board (KASB) held a meeting on 16 October 2014 in Seoul, Korea. The participants of the meeting discussed issues relating to the recent activities and key projects of the two Boards.

  • Case study - based teaching material for the IFRS for SMEs

    31 Oct 2014

    The IFRS Foundation Education Initiative is developing a series of comprehensive Framework-based IFRS teaching materials to assist IFRS teachers to educate IFRS learners more effectively. The material is designed to develop in students the ability to make the judgements that are necessary to apply IFRSs. Now the first two case studies adapted for the IFRS for SMEs have been made available.

  • ESMA publishes report on the equivalence of the Indian Accounting Standards

    30 Oct 2014

    The report fulfils the mandate received by the European Securities and Markets Authority (ESMA) from the European Commission (EC) in February 2014 to provide it with an update on the level of convergence of the Indian Accounting Standards (Ind AS) towards International Financial Reporting Standards (IFRSs) and the quality of application and enforcement of the Ind AS.

  • IFRS Foundation appoints Trustee

    30 Oct 2014

    The IFRS Foundation has announced the appointment of Takafumi Sato as Trustee of the IFRS Foundation. The appointment will begin on 1 November 2014 and will expire on 31 December 2017. Dr Sato's appointment follows the retirement of Tsuguoki (Aki) Fujinuma, Vice-Chairman of the Trustees.