| FASB | FASB Defers Certain Aspects of Comprehensive Income Accounting Standards Update |
Norwalk, CT, December 23, 2011—The Financial Accounting Standards Board (FASB) today issued Accounting Standards Update No. 2011-12, Comprehensive Income (Topic 220): Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05. [READ MORE] |
| Media Advisory—The FASB Announces Public Roundtable Meetings to Solicit Input on Proposal to Improve Accounting for Investment Companies and Proposal on Investment Property Entities |
Norwalk, CT, December 21, 2011—The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have announced they will host a series of public roundtable meetings—including one in the United States—to discuss their proposals to improve and converge financial reporting by setting forth consistent criteria for determining whether an entity is an investment company. [READ MORE] | |
| IASB and FASB Issue Common Offsetting Disclosure Requirements | London and Norwalk, CT, December 16, 2011—The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today issued common disclosure requirements that are intended to help investors and other financial statement users to better assess the effect or potential effect of offsetting arrangements on a company’s financial position. [READ MORE] |
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| Financial Accounting Foundation Names Bank of America’s Charles H. Noski as Chairman of the Financial Accounting Standards Advisory Council | Norwalk, CT, December 5, 2011—Charles H. Noski, vice chairman of Bank of America Corporation, today was appointed chairman of the Financial Accounting Standards Advisory Council (FASAC) for a one-year term beginning January 1, 2012. [READ MORE] | |
| SEC | SEC Advisory Committee on Small and Emerging Companies to Hold Conference Call Meeting | Washington, D.C., January 4, 2012 – The Securities and Exchange Commission Advisory Committee on Small and Emerging Companies will hold a public meeting by conference telephone call on Friday, January 6. [READ MORE] |
| SEC Names Pamela A. Gibbs as Director of the Office of Minority and Women Inclusion | Washington, D.C., Jan. 3, 2012 — The Securities and Exchange Commission today announced that Pamela A. Gibbs has been named as the inaugural Director of the Office of Minority and Women Inclusion, which oversees diversity in the agency’s employment, management, and business activities. [READ MORE] | |
| Agencies Extend Comment Period on Volcker Rule Proposal | Washington, D.C., December 23, 2011 — Four federal agencies today extended until February 13, 2012, the comment period on a proposal to implement the so-called Volcker Rule of the Dodd-Frank Wall Street Reform and Consumer Protection Act. [READ MORE] |
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SEC Adopts Net Worth Standard for Accredited Investors Under Dodd-Frank Act |
Washington, D.C., December 21, 2011 — The Securities and Exchange Commission has amended its rules to exclude the value of a person’s home from net worth calculations used to determine whether an individual may invest in certain unregistered securities offerings. |
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| SEC Adopts Dodd-Frank Mine Safety Disclosure Requirements | Washington, D.C., December 21, 2011 – The Securities and Exchange Commission has adopted new rules outlining how mining companies must disclose the mine safety information required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. [READ MORE] |
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| Joint Statement on Regulation of OTC Derivatives Markets | Washington, D.C., Dec. 9, 2011 — Leaders and senior representatives of the authorities responsible for regulation of the over-the-counter (OTC) derivatives markets in Canada, the European Union, Hong Kong, Japan, Singapore, and the United States met yesterday in Paris. |
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| AICPA | New Survey: Saving Takes Priority for Young Adults This Year |
NEW YORK, January 5, 2012 — Young adults have made saving a priority this year – ahead of losing weight, living healthier and other typical New Year’s resolutions – as financial concerns take a toll on their friendships and personal lives, according to a new survey by the American Institute of Certified Public Accountants and the Ad Council. |
| AICPA Joins International Accounting Bodies at Accounting for Sustainability Forum | NEW YORK, (Dec. 21, 2011) - The American Institute of CPAs was among the international accounting bodies represented at the Accounting for Sustainability Forum in London earlier this month. [READ MORE] | |
| AICPA Unveils Interactive Checklists to Ease Tax Preparation | NEW YORK (Dec. 20, 2011)—Tax professionals have always looked to the American Institute of Certified Public Accountants’ Tax Practice Guides and Checklists as an essential tool for ensuring high quality standards in the preparation of clients’ returns. [READ MORE] | |
| AICPA Survey: Career Growth, Salary and Paid Time-Off Leads the List in Attracting and Retaining Top Talent in CPA Firms | Durham, N.C. (Dec. 19, 2011)- Career growth opportunities, salary and paid time-off are the key elements in attracting and retaining the best and brightest young CPAs, according the American Institute of Certified Public Accountants' 2011 Top Talent Study. [READ MORE] | |
| When Good Management Isn't Enough | NEW YORK (Dec. 13, 2011)--Is happiness a well-run CPA firm? Not necessarily, according to Troy Waugh, author of a new primer on practice leadership from the American Institute of Certified Public Accountants. [READ MORE] |
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| AICPA Supports IRS Goal of Real Time Tax System | The American Institute of CPAs told the Internal Revenue Service today that it supports the agency’s overall objective of changing America’s tax system to one that matches tax information in real time. [READ MORE] | |
| PCAOB | PCAOB Reproposes Auditing Standard on Communications with Audit Committees, Amendments to Other PCAOB Standards | The PCAOB today reproposed for comment an auditing standard on Communications with Audit Committees, and other amendments to PCAOB standards. The standard was initially proposed on March 29, 2010. [READ MORE] |
| IASB | IASB proposes to clarify the transition guidance in IFRS 10 | The International Accounting Standards Board (IASB) today published for public comment proposed amendments to IFRS 10 Consolidated Financial Statements. [READ MORE] |
| SB clarifies its requirements for offsetting financial instruments | The International Accounting Standards Board (IASB) today clarified its requirements for offsetting financial instruments by issuingOffsetting Financial Assets and Financial Liabilities(Amendments to IAS 32). [READ MORE] |
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| IASB defers IFRS 9 mandatory effective date to 2015 | The International Accounting Standards Board (IASB) issued today amendments to IFRS 9 Financial Instruments that defer the mandatory effective date from 1 January 2013 to 1 January 2015. [READ MORE] | |
| IASB and FASB issue common offsetting disclosure requirements | The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today issued common disclosure requirements that are intended to help investors and other financial statement users to better assess the effect or potential effect of offsetting arrangements on a company’s financial position. [READ MORE] |