The New York State Society of CPAs is asking the Financial Accounting Standards Board to expand a proposal that would standardize the treatment of foreclosed properties when they are backed by a loan from the U.S. Department of Housing and Urban Development beyond the residential developments that were the focus of the original draft proposal.

The International Financial Reporting Standards Foundation and the International Accounting Standards Board are reaching out to Islamic countries to elicit their support for IFRS, with a working group dedicated to making sure the standards don’t conflict with Sharia law.

The Governmental Accounting Standards Board has released a new online pension implementation toolkit to help preparers, auditors, and users of state and local government financial reports understand and apply the revised pension accounting and financial reporting standards

The Financial Accounting Standards Board has responded to a post-implementation review of its accounting standard for fair value measurement, saying it doesn’t plan to make any comprehensive changes.

The IFRS Foundation and the International Valuation Standards Council have signed a joint statement of protocols for cooperating on International Financial Reporting Standards and International Valuation Standards in the area of fair value measurement.

The Financial Accounting Standards Board has issued a draft version of its long-awaited Disclosure Framework, aimed at improving its process for evaluating existing and future disclosure requirements in the notes to financial statements.

For the first time, private companies will be able to make two accounting elections that will simplify their reporting requirements and still be in compliance with U.S. GAAP.