The International Accounting Standards Board is readying new revisions to its standards for accounting for impaired assets in response to pressure from European regulators who have threatened to upset support for International Financial Reporting Standards.

I have a friend with an accounting degree and a law degree whocomplained about the length and complexity of the annual reports,including those of General Electric (108 pages), Citigroup (242 pages),Warner Music Group (142 pages), Pfizer (170 pages) and Bank of America(192 pages).

A new academic study takes issue with claims that U.S. companies would benefit from adopting International Financial Reporting Standards.

The Financial Accounting Standards Board voted Wednesday to approve the FASB Accounting Standards Codification as the single authoritative, nongovernmental source of information on GAAP, with an official launch date set for July 1.

The International Accounting Standards Board has published draft guidance to try to settle the controversial issue of fair value measurement and calm some of the recent political pressure.

Proposed contract-based standards for revenue recognition are attracting some support, but also raising questions, according to a new survey.

The Financial Accounting Standards Board has released FASB Statement No. 165, “Subsequent Events,” setting standards for the disclosure of events that occur after the balance-sheet date, but before financial statements are issued or are available to be issued.

Rep. Hank Johnson, D-Ga., has introduced a bill that would ensure that small business government contracts go only to small businesses instead of the subsidiaries of large companies.

Members of the international Financial Crisis Advisory Group warned at a meeting in London that political pressure on accounting standard-setters posed a threat to “the very existence of international accounting standards.”

The Financial Accounting Standards Board has issued rules to help nonprofit organizations properly account for mergers and acquisitions involving other not-for-profits.

Americans today are being forced to review their retirement planning goals with greater scrutiny. No one knows that more than Robert Fishbein, vice president and corporate counsel with Prudential Financial, Inc. He has now offered tips on how to get through this economic turmoil.

The Internal Revenue Service commemorated Small Business Week this week by calling attention to some recently enacted tax breaks for small businesses.

Three out of four audit committee members say they have increased their hands-on involvement with management, and are reassessing risk management and oversight as a result of the economic crisis, according to a new survey.

Employment search provider Monster Worldwide agreed to pay the SEC $2.5 million in penalties to settle stock option backdating charges.

XBRL US has published the 2009 edition of the interactive data tags that the Securities and Exchange Commission will accept for coding financial statements in accordance with U.S. generally accepted accounting principles.

Over the last several years, a substantial number of highly complex professional auditing and accounting standards have been issued by numerous standard-setters.

Ten years ago, the Dow Jones Sustainability Index began to track the financial performance of leading sustainability-driven companies around the world.

BRITISH ACCOUNTANTS URGE SEC TO ADOPT IFRS

Over a third of U.S. CPAs said they want to become more familiar with international accounting standards, but most of them don’t know how much the standards will cost their companies to implement.

Five trade groups representing banks, financial service firms and insurance companies sent a joint letter to Congress registering continued displeasure with fair value and mark-to-market accounting and impairment rules, despite recent changes.