IASB

Companies should begin to plan now how to incorporate the new standards and update procedures for the Financial Accounting Standards Board’s accounting updates on two significant topics: revenue recognition and lease accounting.

Trustees of the IFRS Foundation met Thursday with Japan’s Financial Accounting Standards Foundation to issue a joint statement reaffirming a commitment to global accounting standards as more Japanese companies move to adopt International Financial Reporting Standards.

The long-awaited IFRS 17 will provide more consistent treatment for all types of insurance in different countries.

The IFRS Foundation has signed a memorandum of understanding with the World Bank to help developing countries use International Financial Reporting Standards.

The IFRS Foundation, the group that oversees the International Accounting Standards Board and its work on International Financial Reporting Standards, issued its annual report for 2016 on Tuesday, with a look ahead at where global standards are expected to go this year.

The International Accounting Standards Board has proposed a set of minor amendments to the financial instruments standard to make it easier to implement.

While issues of immigration, trade and freedom of the Fourth Estate are dominating the media cycle, there are other significant areas of policy flux worthy of consideration as President Donald Trump’s term gathers momentum.

The Securities and Exchange Commission has given its approval to the 2017 GAAP Financial Reporting Taxonomy, the annually updated set of accounting standards built using computer-readable tags.

Mary Jo White urges FASB to continue efforts to harmonize U.S. GAAP with International Financial Reporting Standards.

The American Institute of CPAs issues online audit and accounting look at impending standard.