|
|
18 Apr 2011
THE DEADLINE for international financial reporting standards convergence has been stretched by as much as six months, as the International Accounting Standards Board admitted its June target has slipped out of reach.
Instead, the body has said it will need "a few more months" to finalise the standards, before quantifying its position with "we intend to try to finish this convergence programme by end of 2011".
Further reading
Leslie Seidman, chairman of the US Financial Accounting Standards Board, laid out the issues still to be resolved; among them, the controversial rule on accounting for financial instruments.
IASB chairman David Tweedie will step down in June, and the body had been eager to complete convergence before his departure. However, the resolution of three key issues - revenue recognition, leases and financial instruments and insurance as a joint project - remains stubbornly out of reach.
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment