Still in Flux  

Oleh:

Tysiac, Ken

Jenis: Article from Bulletin/Magazine
Dalam koleksi: Journal of Accountancy vol. 214 no. 3 (Sep. 2012), page 28-31.
Topik: International Accounting Standards; Financial Reporting; Public Companies; Funding; Contributions

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.33 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

The future of international accounting standards for US public companies remains uncertain after the release in July of a long-anticipated SEC analysis of IFRS. In a 127-page report released on the final day of Chief Accountant James Kroeker's tenure, the SEC staff said the global financial reporting community considers the standards produced by the International Accounting Standards Board (IASB) to be of high quality despite areas that need further development. But the report questioned the funding of the IASB and the timeliness of responses to widespread accounting issues by the IFRS Interpretations Committee. It said adoption would be costly for US public companies. The biggest obstacle to IFRS adoption for US public companies maybe the funding of the IASB. Voluntary funding was critical for the IASB as it got off the ground in the early 2000s; the SEC report said that until 2008, the IFRS Foundation financed the IASB largely through voluntary contributions from a wide variety of participants across the world's capital markets.

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