Tag Archives: GAAP

The American Institute of Certified Public Accountants and the Financial Accounting Foundation From Blue Ribbon Panel to Address Standards for Private Companies

Norwalk, CT (Dec. 17, 2009) – The American Institute of Certified Public Accountants (AICPA) and the Financial Accounting Foundation (FAF) today announced the establishment of a “blue-ribbon panel” to address how U.S. accounting standards can best meet the needs of users of private company financial statements. The panel will provide recommendations on the future of…

Written on December 17, 2009 at 4:29 pm, by

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Categories: Press Releases
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Educators Say IFRS is Being Taught

State Board Report November 2009 Accounting programs are already covering International Financial Reporting Standards, a three‐member panel of educators told NASBA’s Annual Meeting. Brigham Young University Professor Kevin D. Stocks said his school’s board of advisers has already made IFRS part of the curriculum, comparing them to US rules. CUNY Baruch College Dean John A.…

Written on November 14, 2009 at 9:10 pm, by

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Categories: State Board Reports
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NASBA Amicus Briefs for TX Board and PCAOB

State Board Report November 2009 NASBA’s Legal Counsel Noel Lee Allen has submitted amicus briefs in support of the Texas State Board of Public Accountancy and the Public Company Accounting Oversight Board (see NASBA Web site for complete text of both). The major issue in the Texas case was the Board’s ability to discipline CPAs…

Written on November 9, 2009 at 9:15 pm, by

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Categories: State Board Reports
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Meetings Ponder IFRS Adoption

State Board Report July 2009 Although that states’ CPAs are already using International Financial Reporting Standards (IFRS) for the US subsidiaries of foreign companies, Strategic Initiatives Committee Chair Gaylen Hansen still told the 2009 Regional Meetings that he believes the Securities and Exchange Commission’s “Roadmap” to the adoption of IFRS is “at a bit of a…

Written on July 5, 2009 at 9:19 pm, by

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Categories: State Board Reports
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IFRS East Breakout

April 27, 2009 During the past several years, the move toward a single set of high quality, globally accepted accounting standards has gained momentum. For example, in 2005 the European Union began requiring companies incorporated in its member states whose securities are listed on an EU-regulated stock exchange to prepare their consolidated financial statements in accordance…

Written on April 27, 2009 at 1:40 pm, by

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Categories: AICPA
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AICPA Analysis of Comment Letters SECs Proposal

April 27, 2009 U.S. Uniform CPA for the first time in the UAE Registration begins in May and International Administration set for August 2011 During the past several years, the move toward a single set of high quality, globally accepted accounting standards has gained momentum. For example, in 2005 the European Union began requiring companies incorporated…

Written on April 27, 2009 at 1:27 pm, by

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Categories: AICPA
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Board’s Oversight Committees Meet

State Board Report October 2008 Tension is obvious between forces moving toward globalization of standards and the other forces developing, maintaining and enforcing US standards, Public Company Accounting Oversight Board Founding Member Bill Gradison observed in an address on September 16 at North Carolina State University. He pointed out that the current “state of play” involves…

Written on October 1, 2008 at 8:58 pm, by

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Categories: State Board Reports
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Letter from NASBA to FASB 1/24/06

January 24, 2006 At the last annual meeting of the National Association of State Boards of Accountancy (NASBA), a panel discussed the subject of who should be the standard setter for private company generally accepted accounting principles. One of the panelists was Edward Trott, a member of the Financial Accounting Standards Board (FASB). The panel…

Written on January 24, 2006 at 6:26 pm, by

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Categories: Comment Letters
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