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Professor Main

Welcome

Welcome to the AccountingEducation.com community.

Our online community became 14 years old on 1 April. No, not an April fool, we really have been doing it this long and our newswire - Double Entries - was going for some years before this and is now in its 20th volume.

If you are new to the site - please feel free to use the contents of the site as you need. To make full use of this site you should register as a user as some content is only available to you once you have signed up. Click on the register option above - it only takes 2 minutes and there is no charge to join. Why not sign up for our free bi-weekly newswire at the same time?

We welcome participation and suggestions - contact us at info@accountingeducation.com with any ideas for development you may have.

 


Latest News

FASB new logo TENTATIVE DECISIONS FROM FASB BOARD MEETING ON MARCH 18, 2015
24 March 2015

The FASB Board met on March 18, 2015, and deliberated issues concerning (1) Conceptual Framework—Measurement, (2) Revenue Recognition—Narrow Scope Improvements and Practical Expedients, and (3) Agenda Prioritization. All of the reported decisions are tentative and may be changed at future Board meetings.


IASB logo HANS HOOGERVORST SPEECH USES NEW PENSION ACCOUNTING RULES TO UNDERLINE THAT BAD ACCOUNTING BREEDS BAD POLICIES
22 March 2015

Hans Hoogervorst, IASB Chairman, speaking this week at the NAPF Investment Conference in Edinburgh, Scotland, said everybody is best served by accounting that reflects the economic reality, even if it makes for uncomfortable reading. International Financial Reporting Standards (IFRS) require companies to provide up-to-date and comparable information about their pension liabilities. While the information may not make for very pretty reading, it helps investors make informed decisions by bringing into the open the challenges companies face in underwriting these liabilities.


IASB logo IASB SETS OUT PRACTICAL EFFECTS OF BRINGING LEASES ONTO THE BALANCE SHEET
22 March 2015

The International Accounting Standards Board (IASB) is in the process of finalising a new International Financial Reporting Standard (IFRS) that will require companies to bring leases onto the balance sheet. It has now also published a document outlining the likely practical effects of the new Leases Standard, as well as details on the similarities and differences between the IASB’s requirements and those of the US Financial Accounting Standards Board (FASB).


INTERNATIONAL COMMUNITY CONTINUES MAKING PROGRESS TO END TAX EVASION SAYS NEW OECD PRESS RELEASE
22 March 2015

The Global Forum on Transparency and Exchange of Information for Tax Purposes has published 9 new peer review reports, including a Phase 1 Supplementary Report for Switzerland, demonstrating continuing progress toward implementation of the international standard for exchange of information on request. The OECD welcomed Switzerland’s recent moves towards greater tax transparency, which are sufficient to remove the country from a category of jurisdictions blocked from moving forward in the peer review process.


OECD RELEASES NEW TAX POLICY WORKING PAPER ON FLAT TAXES IN SLOVAK REPUBLIC
22 March 2015

A new paper has been published as part of the OECD's Taxation Working Paper series. This working paper was produced in collaboration with the Institute for Financial Policy (IFP) of the Slovak Ministry of Finance - Moving Beyond the Flat Tax: Tax Policy Reform in the Slovak Republic.


ISACA ISSUES 9 ACTION ITEMS TO IMPROVE IT GOVERNANCE
22 March 2015

The Global IT association ISACA has issued nine key action items to help companies reduce costs, improve communication and operate more efficiently by improving the governance over their information and technology. In a new free guide titled; Getting Started With Governance of Enterprise IT (GEIT), ISACA recommends a three-phased plan. See full details in our news item.


PRE-EMPTION GROUP PUBLISHES REVISED STATEMENT OF PRINCIPLES FOR THE DISAPPLICATION OF PRE-EMPTION RIGHTS
22 March 2015

The Pre-Emption Group has published a revised Statement of Principles for the disapplication of Pre-Emption Rights, providing guidance to companies and shareholders on the factors to take into account when considering whether to disapply pre-emption rights. The revisions clarify the scope of the Principles to take account of market changes and developments in best practice and provide greater transparency.


UK DEPARTMENT FOR BUSINESS, INNOVATION AND SKILLS ISSUES Q&A ON AUDITOR TENDERING AND ROTATION FRAMEWORK AS PART OF CONSULTATION OF EU REFORM PROPOSALS
22 March 2015

On 12 March the UK Government's Department for Business Innovation and Skills published a Q&A about the auditor tendering and rotation framework on the webpage for its consultation: Auditor regulation: discussion document on the implications of the EU and wider reforms. The purpose of the Q&A is to assist those preparing responses to the discussion document and/or preparing for the application of the requirements of the Regulation as from the application date on 17 June 2016.


FRC ISSUES NEW UK AND IRISH INTERIM REPORTING REQUIREMENTS
22 March 2015

The Financial Reporting Council (FRC) has issued revised interim reporting requirements (FRS 104 ‘Interim Financial Reporting’). FRS 104 is relevant for entities that apply UK and Irish GAAP and prepare interim financial reports. FRS 104 promotes the publication of informative and understandable interim financial reports and is consistent with the annual reporting requirements in new UK and Irish GAAP (FRS 102).


STUDY OF THE FINANCIAL STRENGTH OF 31 ISLAMIC FINANCIAL INSTITUTIONS PUBLISHED BY AOSSG
22 March 2015

The AOSSG has published its findings on a study of the financial statements of 132 Islamic financial institutions (IFIs) from 31 jurisdictions. Of the sampled IFIs, 46% stated compliance with International Financial Reporting Standards (IFRS), 18% with financial accounting standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), and most of the remaining samples complied with a local reporting framework.


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Book of the Week

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Kasaoka cover The Effect of Defined Benefit Liability on Firms’ Valuations in Japan
by Eriko Kasaoka, Kwansei Gakuin University
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Latest event

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2015 JCAE Mid-Year Symposium
03 July 2015 ( 1 day )
CALL FOR PAPERS JOURNAL OF CONTEMPORARY ACCOUNTING AND ECONOMICS (JCAE) MID-YEAR SYMPOSIUM Friday 3rd of July 2015 University of Tasmania, Hobart, Australia INTRODUCTION The 2015 JCAE Mid-Year Symposium is jointly organised by The University of Technology Sydney and The University of Tasmania....
Event added 22/03/15
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Latest Library Item

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FRC Logo FRC Financial Reporting Lab Case study - Experimental Accounting Policy Disclosures
08 February 2015
Author(s):FRC
Type:Case Materials
The Financial Reporting Council’s (FRC) Financial Reporting Lab (Lab) has found that investors support fresh approaches to the disclosure of accounting policies. Building on the Lab’s recent report ‘Accounting policies and integration of related financial information’, the Lab has published a case study conducted among some of William Hill plc’s investors, retail shareholders, and analysts. The study highlights the company’s experimentation with accounting policy disclosure.
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Latest Link

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IASB logo IFRS Research Centre
03 May 2014
The IFRS Research Centre is an initiative of the IASB that is designed to support the establishment of a dedicated research capability that will draw upon a combination of internal and external intellectual resources, including the engagement of the academic community.
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