Beyond the GAAP no. 76 - March 2014

In our January 2014 issue, we highlighted the ongoing differences of opinion between the IASB and the FASB as they tried to finalise the standard on financial instruments. After years of work on the joint standard, they seem unable to reach a consensus on either phase 1 (classification and measurement) or phase 2 (impairment).

This month, yet another flagship project for IFRS/US GAAP convergence is seeing the prospect of a joint standard slipping away. At their joint meeting in March 2014, the FASB and IASB each opted for a different approach to lease accounting for lessees. Many observers are hoping that these differences of opinion will lead the IASB to revise its approach, or indeed to abandon this widely unpopular project.
 This month, yet another flagship project for IFRS/US GAAP convergence is seeing the prospect of a joint standard slipping away. At their joint meeting in March 2014, the FASB and IASB each opted for a different approach to lease accounting for lessees. Many observers are hoping that these differences of opinion will lead the IASB to revise its approach, or indeed to abandon this widely unpopular project.

Dokumenty

Index - March 2014
Beyond the GAAP No. 76 - March 2014