The inter­na­tional and US accounting standards bodies are both adjusting their mark-to-market rules in favour of politi­cians and bankers. FASB did it last month. IASB is working on it as quickly as they can. And yet, the two cannot agree on just how far they should bend over backward for the special interests. After pressure […]

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The FASB is expertly highlighting its growing irrel­e­vance by agreeing to change mark-to-market to mark-to-sorta-market-but-not-really-because-banks-don’t-like-having-to-write-down-their-worthless-derivatives-to-fair-value.

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FASB is coming out with some tough new standards relating to defined benefit pensions that is expected to result in signif­icant new liabil­ities (or increases to existing ones) for companies that had been accounting for their pensions under the more lax require­ments of the old standard. Defined benefit pension plans are definitely the more complicated […]

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The accounting standards setting group in the United States is known as the Financial Accounting Standards Board (FASB) and consists of seven board members who are appointed to five year terms. The most recent appointment was Thomas J. Linsmeier, and CFO.com has a pretty good interview with him on some of the issues currently facing […]

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The Financial Accounting Standards Board and the American Institute of CPAs have announced a joint project whose aim is to seek “constituent feedback on proposed enhance­ments to the FASB’s standard-setting proce­dures that would determine whether the Board should consider differ­ences in accounting standards for private companies.” This is the classic conundrum commonly known to those […]

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