The IASB recently issued two proposals that differ substantially from current practice and from US GAAP. The first involves pension accounting, moving asset gains and losses to other comprehensive income. The second changes the recognition financial liability changes due to a company’s credit rating change.
Check out this recent blog post by Resources Global Professional’s Colleen Cunningham for more insight .
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About Chris Burd
Chris is the Vice President of the policyIQ group at RGP. She gets geeky about compliance and technology, and gets to spend every day working at the crossroads of the two. With policyIQ since 2005, Chris has worked with hundreds of policyIQ clients to implement technology and enhance their internal compliance environment.
In past lives, Chris worked as a system implementation consultant, a e-commerce specialist, a customer service call center manager, and - for one short but memorable summer during high school - a machine operator on midnight shift in a plastics factory. In her free time, she spoils her nieces, reads too many books, and spends more time than she should taking photos of her cats. She's on a mission to visit the hometown of every US President - so far managing to get to 14.
She would like to be a rock star when she grows up.