FASB

ifrs-graffiti

IFRS 9 leaves IASB with impaired convergence

The lack of a single asset impairment model between the IASB and FASB leaves preparers playing piggy in the middle

05 Mar 2014

contract-argue

Accounting rules could lead to artificial lease structures

Overhaul of lease accounting rules still complex and could lead to restructuring of lease agreements

23 May 2013

Hans Hoogervorst IASB chairman

IASB and FASB propose dual approach to lease accounting

IASB and FASB put forward a dual approach to accounting for leases on company balance sheets

16 May 2013

FRC and FASB among 12 members of IASB advisory forum

US and UK national standard setters among inaugural members of IASB's Accounting Standards Advisory Forum

20 Mar 2013

IASB changes overshadowed by break-away from FASB

A further layer of complexity is to be added to accounting regulations to help allay concerns on a future financial crisis - but it highlights separation from US body FASB

08 Mar 2013

IASB could water down advisory forum membership criteria

Hans Hoogervorst suggests advisory forum commitment requirement could be changed to get FASB on board

11 Jan 2013

Banks pessimistic on financial instrument convergence

Majority of banks surveyed by Deloitte expect financial instrument accounting convergence to end in failure

08 Jan 2013

End era of convergence in months, not years – ICAEW

The institute suggests that all listed companies around the world should have the option of applying IFRS

12 Dec 2012

FASB must step up to retain standard-setting influence

FASB offered seat on global forum of setters, but warned of waning influence over international accounting rules

05 Dec 2012

FASB to modify fair value election option

Evolution of accounting rules could mean struggling companies have nowhere to hide, explains Rick Martin

06 Nov 2012

Profession split over value of convergence project

Half of delegates at E&Y conference think convergence project with the US has failed to be beneficial

05 Nov 2012

Hoogervorst criticises US approach to impairment accounting

IASB chairman says US plans for loan provisioning could deter banks from lending

19 Sep 2012

ICAEW: Focus on current IFRSs, not convergence

The IASB’s focus should shift away from convergence to quality of current rules, says ICAEW

18 Sep 2012

IASB branded 'not fit for purpose' as it clashes with FASB

IASB at loggerheads with FASB over impairment accounting rules, which one critic labels as faulty and "deeply discredited"

20 Jul 2012

SEC decision over IFRS kicked into the long grass

US SEC still not set on a timetable to converge with global reporting standards. Its report will not contain recommendation on whether to move fully to IFRS

12 Jul 2012

IASB and FASB settle differences over lease accounting

Standard setters agree to a two model approach to accounting for lease expenses on the balance sheet

14 Jun 2012

Expected-loss model "well on the way", says IASB

Hans Hoogervorst said criticisms of incurred-loss model only partially justified

06 Jun 2012

World is waiting as US dithers over IFRS

Sir David Tweedie warns that US elections could put convergence back ten years

25 Apr 2012

IASB and FASB offer clarification around expected loss attributes

The boards also clarified the so called ‘three bucket' approach, designed to help banks make responsible provisions

23 Apr 2012

IFRS in the US could be ‘Chinese water torture’

IASB chairman Hans Hoogervorst is confident US regulators will ‘take a positive decision' to adopt IFRS

24 Feb 2012

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How software as a service can meet the strategic needs of a growing business

Organisations are now looking for a software service that is cost effective, flexible, streamlined and able to meet the needs of the business both today and in the future

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Bank raiding powers could put HMRC at top of insolvency pecking order

Will HMRC’s new bank raiding powers see insolvency practitioners pursuing it for funds taken illegally in the event of bankruptcy?

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Love them or loathe them, timesheets are a part of day-to-day life for most practices. Cara Miller asks whether they're actually outdated, and a hindrance

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Colin: There's nothing like a well-thought-out plan

Colin wonders whether some SMEs are keeping it too simple

Taking Stock: When tax is stranger than fiction

Sometimes you just can't make it up, TS finds

Scrapping IR35 all very well – but what else?

IR35 has proven ineffective, but 'what are the alternatives?' asks Calum Fuller

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HM Revenue & Customs

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HM Revenue & Customs, Telford, Full Time, Permanent/p>

 

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If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

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