[IMGCAP(1)]Two changes to public company accounting took hold in 2012: the change on the test for impairment of goodwill on the balance sheet and a change in how comprehensive income is presented in the financial statements.

We expected more. After all of the hue and cry about international accounting convergence – it was predicted by most people to be a sure thing as the U.S. and international boards drove together down the ballyhooed “path to convergence,” with at least vocal support from the Securities and Exchange Commission—it hasn’t happened.

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