• FASB suspends income tax project 
  opinions: 1    последнее :
  I would like to pose a question being that my major is in accounting. I sit rying to figure out the question is that FASB and the IFRS going to merge or go to one or the other and how can I prepare for this change as far as school is concern. Do I h Kenneth Bledsoe
• Fair value standard will be released next month: Tweedie 
  opinions: 1    последнее :
  IFRS foundation and IASB should try to find a solution on new Fair value standard. They should not accept any interference from the AICPA / FASB / US-SEC to dilute the standard. US has made a case that last US-Financial meltdown was to a large ex Al Khan, CA
• Global anti-bonus campaign 
  opinions: 1    последнее :
  First, Executive Compensation and re-election of Directors must be totally re-examined afresh to come up with legislation to control corporate greed and accounting sheningans by corporations. Second, a cap on tax deductibility of executive compensa Al Khan
• A new Web site is providing sample questions for the CPA Exam for free 
  opinions: 2    последнее :
  2 Mohit. Not too much, but still better than nothing: http://www.gaap-ifrs.com/special/tests/ifrs.asp Alexander Kurnikov

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The Financial Accounting Standards Board (FASB) today issued an Exposure Draft (ED) of a proposed Statement of Financial Accounting Standards “Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses”. The proposed Statement would be effective beginning with the first interim or annual reporting period ending after December 15, 2009, with early application encouraged.

The ED seeks feedback from constituents on a proposed Statement intended to improve the transparency of financial reporting by requiring enhanced disclosures about an entity’s allowance for credit losses as well as the credit quality of an entity’s financing receivables. Respondents are asked to comment on whether they believe the proposed Statement would achieve its goal of providing more information regarding the nature of credit risk inherent in the creditor’s portfolio of financing receivables; how that risk is analyzed and assessed in arriving at the allowance for credit losses; and the changes, and reasons for the changes, in both the receivables and the allowance for credit losses.

Individuals and organizations are invited to submit comments on the proposed guidance. Responses must be received in writing by August 24, 2009.