IASC Foundation publishes update on responses to G20 conclusions

The IASC Foundation has published a table summarizing the actions and ongoing work by the International Accounting Standards Board (IASB) in response to the conclusions reached by the G20 leaders in their summit in Washington DC on November 15, 2008. (For more information, read the IASC Foundation Press Release.)

SEC Signals No Major Shake-Up for Fair Value

US Securities and Exchange Commission (SEC) Chairman Christopher Cox, speaking this week at an AICPA conference, said investors have told the SEC that fair value measurement has increased transparency in financial reporting. But Cox signaled that the SEC would call for some additional guidance on fair value measurements. (View highlights from Chairman Cox's speech.)

How IFRS is affecting accounting education

For those charged with educating the next generation of accountants, the expected shift from US GAAP to International Financial Reporting Standards (IFRS) stirs up a host of potentially thorny issues. Professors and college administrators are dealing with questions about the timing of the curriculum expansion and the resources needed to handle IFRS. They are examining how to reconfigure course work to make room for international standards. (Read the article On the Verge of an Academic Revolution.)

AICPA inaugural IFRS webcast on Dec. 12, 2008

The American Institute of Certified Public Accountants (AICPA) is offering its inaugural International Financial Reporting Standards (IFRS) webcast on December 12, 2008. A first in a new series, the IFRS Quarterly Webcast Series - IFRS 101: The Essentials, will review the background and history on IFRS convergence efforts, the proposed SEC Roadmap published on November 14, 2008, a summary of differences between IFRS and US GAAP, and how all of these changes will affect your company.

Canada's Publicly Accountable Enterprises Strategy

Canada's Accounting Standards Board (AcSB) staff has updated the paper explaining which International Financial Reporting Standards (IFRS) are expected to apply on changeover to IFRS in 2011. (View the Publicly Accountable Enterprises Strategy.)