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accounting and financial accounting standards board

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Accounting: a generic term for all the activities conducted by accountants, for example, bookkeeping and financial accounting. Accounting involves the classification and recording of monetary transactions; the presentation and interpretation of...; Accounting definition on BNET »

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FASB Issues Exposure Drafts on Going Concern and Subsequent Events: NORWALK, Conn. -- The Financial Accounting Standards Board FASB today issued two separate but related Exposure Drafts EDs for public comment. The documents contain two proposed FASB Statements, Going Concern and Subsequent Events, intended to improve financial reporting by incorporating accounting guidance that originated as auditing standards into the body...; Tags: accounting, auditing, FINANCE, financial, Financial Accounting Standards Board; Research articles 2008-10-09
Financial Accounting Foundation Appoints Marc A. Siegel to the Financial Accounting Standards Board: NORWALK, Conn. -- Robert Denham, chairman of the Financial Accounting Foundation FAF, today announced that the FAF Board of Trustees has appointed Marc A. Siegel to the Financial Accounting Standards Board FASB. Prior to his appointment, Mr. Siegel led the Accounting Research and Analysis team at the RiskMetrics Group in...; Tags: accounting, FINANCE, financial, Financial Accounting Standards Board, Marc, Siegel; Research articles 2008-09-26
Intermediate accounting, 12th ed., 2007 FASB update: Intermediate accounting, 12th ed., 2007 FASB update. Kieso, Donald E. et al. John Wiley & Sons 2008 1361 pages $188.95 Hardcover HF5635 Kieso (accounting, U. of Illinois) and coauthors (both accounting, U. of Wisconsin-Madison) presents the first update to this substantial text...; Tags: accounting, FINANCE, Financial Accounting Standards Board; Research articles 2008-08-01
Why historical cost accounting makes sense: As the Financial Accounting Standards Board FASB continues to march toward fair value accounting and away from historical cost accounting, it's a good time to consider the flaws of fair value accounting. Enron's demise, after all, has been partially blamed on fair value accounting. In addition, it has been suggested...; Tags: accounting, asset, financial, Financial Accounting Standards Board; Research articles 2008-08-01
FRC and SBC are working hard: One of the most rewarding experiences in my role with IMA's professional advocacy efforts is my interaction with members who serve on the Financial Reporting and Small Business Financial and Regulatory Affairs Committees FRC and SBC. Beginning with this article, I plan to provide regular updates about the activities of...; Tags: accounting, FINANCE, financial, Financial Accounting Standards Board, SEC, XBRL; Research articles 2008-08-01

Fair value accounting: are you ready?: The Financial Accounting Standards Board FASB has long believed that fair value accounting is the most relevant basis of accounting and has had a long-stated goal of having it as the primary method of accounting. Over the past 15 years, the FASB has taken baby steps to get companies and...; Tags: accounting, analyst, asset, FINANCE, financial, Financial Accounting Standards Board; Research articles 2008-08-01
Home at last: FAS 162 and the GAAP hierarchy: up until now, the GAAP hierarchy resided in the auditing standards. A decade and a half after the issuance of Statement on Auditing Standards No. 69, The Meaning of Present Fairly in Conformity with Generally Accepted Accounting principles (SAS 69), the GAAP hierarchy is finally home--in the accounting standards. Statement...; Tags: accounting, FINANCE, Financial Accounting Standards Board, GAAP; Research articles 2008-07-01
US and China standards boards sign MOU: THE FINANCIAL ACCOUNTING STANDARDS Board FASB in the US and the China Accounting Standards Committee CASC have issued a memorandum of understanding MOU professing their commitment to strengthening cooperation and communication. The organisations expressed the following in the MOU: the FASB and the CASC will improve communication and understanding in...; Tags: accounting, board, convergence, FINANCE, Financial Accounting Standards Board; Research articles 2008-06-01
SEC content released onto the FASB Accounting Standards Codification: The Financial Accounting Standards Board has released selected portions of SEC staff content onto the FASB Accounting Standards Codification (http://asc.fasb.org/home) for reference by public companies. The Codification does not change the SEC content; rather it includes the content reorganized into roughly 90 accounting topics to more closely align with the...; Tags: accounting, FINANCE, Financial Accounting Standards Board, SEC; Research articles 2008-05-01
International Convergence: The Case of Accounting for Business Combinations: On June 30, 2005, FASB and the International Accounting Standards Board IASB each issued exposure drafts dealing with both business combinations and consolidation procedures. FASB's exposure drafts included "Business Combinations" and "Consolidated Financial Statements, Including Accounting and Reporting of Noncontrolling Interests in Subsidiaries." The lASB's related exposure drafts included proposed...; Tags: accounting, acquisition, asset, equity, Exhibit, FINANCE, Financial Accounting Standards Board, Goodwill, Investment, standards; Research articles 2008-04-01
IFRS3 AND FAS141: Stuart Whitwell analyses changes to the FASB's and IASB's standards on business combinations and considers how close they are to convergence. In December 2007 and January 2008 respectively, the US Financial Accounting Standards Board FASB and the International Accounting Standards Board IASB issued revised standards on business combinations....; Tags: accounting, acquisition, convergence, Financial Accounting Standards Board, goodwill, Quality, standards; Research articles 2008-04-01
Houston CPA Society Conference to Feature Nation's Top Accounting and Auditing Authorities: HOUSTON -- Two Houston accounting leaders will join top authorities from the Securities & Exchange Commission, Financial Accounting Standards Board and other oversight boards, as they share perspectives with preparers and users for the 28th Financial Reporting Symposium sponsored by the Houston CPA Society, a chapter of the Texas Society...; Tags: accounting, auditing, FINANCE, Financial Accounting Standards Board, Houston; Research articles 2008-03-31
inbox: letters to the editor: Disability Insurance Planning: Don't Expect Claims Process to Be Easy The article "Disability Insurance Planning for Professionals" by Lawrence B. Keller and Harry Wigler (December 2007) was very informative. Let me add some reallife experience to the discussion. The authors hint at the leverage that the insurance companies have in...; Tags: accounting, benefit, disability, FINANCE, financial, Financial Accounting Standards Board, Government, Insurance, Regulations, Sarbanes-Oxley, standards; Research articles 2008-03-01
Deferral of FIN 48 for Certain Nonpublic Entities Is Final: accounting & auditing newsOn Feb. 1, the Financial Accounting Standards Board issued FASB Staff Position FIN 48-2, Effective Date of FASB Interpretation No. 48 for Certain Nonpublic Enterprises. This FSP defers the effective date of FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes, for certain nonpublic enterprises as...; Tags: accounting, FINANCE, Financial Accounting Standards Board; Research articles 2008-03-01
FASB and IASB convergence: impacts on the industry: In February 2006, the Financial Accounting Standards Board FASB and the International Accounting Standards Board IASB released a memorandum of understanding renewing their commitment to the convergence of U.S. and international accounting standards and identifying current convergence projects. The convergence efforts between the Boards have the potential to significantly...; Tags: accounting, board, convergence, FINANCE, financial, Financial Accounting Standards Board; Research articles 2008-02-27
Consolidated Financial Statements: Major Changes Coming! The procedural aspects of consolidated financial statements have gone practically unchanged for almost 50 years, with the exception of accounting changes related to goodwill and the pooling-of-interests method. The well-accepted methodology behind consolidated entities will change dramatically when new FASB standards become effective for periods...; Tags: accounting, acquisition, asset, FINANCE, Financial Accounting Standards Board, GAAP, goodwill, income, Investment; Research articles 2008-02-01
Accounting for Nonmonetary Exchanges: Conceptual and Practical Implications of SFAS 153 Businesses use nonmonetary exchanges for a variety of reasons. These range from routine trade-ins of old equipment to sophisticated exchanges of real estate. In December 2004, FASB issued SFAS 153, Exchanges of Nonmonetary Assets, an Amendment of APB Opinion No. 29,...; Tags: accounting, asset, Financial Accounting Standards Board; Research articles 2008-02-01
EFFECT OF CHANGES IN ACCOUNTING FOR DEFINED BENEFIT PENSIONS AND OTHER POSTRETIREMENT BENEFIT PLANS ON COMPANIES' FINANCIAL STATEMENTS AND STAKEHOLDERS, THE: CASE DESCRIPTION The primary subject matter of this case concerns changes in accounting for defined benefit pensions and other postretirement benefit plans proposed and promulgated by the Financial Accounting Standards Board FASB and their effects on the financial statements of companies that currently sponsor these plans. Secondary, yet important issues...; Tags: accounting, Benefits, FINANCE, financial, Financial Accounting Standards Board, income, pension; Research articles 2008-02-01
FASB wants feedback on codification: Last month the Financial Accounting Standards Board FASB launched the one-year verification phase of its FASB Accounting Standards Codification[TM] Codification. It is asking constituents to use the online Codification Research System for free to research accounting issues and then provide feedback on whether the content accurately reflects existing U.S. Generally...; Tags: accounting, FINANCE, Financial Accounting Standards Board; Research articles 2008-02-01
PROFESSIONAL ROUNDUP: Recent Developments in the Accounting Profession Proposed Changes to IFRS As part of its effort to streamline its standard-setting process, the International Accounting Standards Board IASB has published an exposure draft of amendments to 25 of its International Financial Reporting Standards. The changes vary from the major - such as...; Tags: accounting, adjustment, auditing, FINANCE, financial, Financial Accounting Standards Board, job, standards; Research articles 2008-01-01