The US Financial Accounting Standards Board responded to lobbying by suspending a section of its EITF03-1 guidance, which would require the value of bond holdings to be marked down the when rates rise, The Financial Times reported.
With further interest rates expected soon, there had been fears that accountants’ interpretation of the rule might lead to a significant down grading of the bonds.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements