In 1995 the commission revolutionised its ability to supervise the sector by introducing new common accounting-standards.
The Federal Accounting Standards Board is considering new rules about how financial companies account for off-balance sheet holdings.
Now, under new rules adopted in June by the Financial Accounting Standards Board, they'll have to amortize the production costs over no more than ten years and immediately expense the marketing (which can cost as much as making the film).
The goal of developing a single international accounting standard is not entirely new--in fact, it dates back to 1973, when the International Accounting Standards Committee (now the International Accounting Standards Board) developed a set of standards to be used worldwide.
Daimler was the first of several big German firms to move to American accounting standards and list its shares in New York.
Although the group's shares are listed in New York, Credit Suisse reports neither under American nor under international accounting standards, preferring the less burdensome Swiss variety.
The Government Accounting Standards Board (GASB) will decide on June 25th whether to impose new rules that would require states to use a more realistic rate.
ECONOMIST: Despite many reforms, big problems persist in most states
Enforcement will be the real challenge, assuming that all the cumbersome legislation goes forward on financial conglomerates, pensions, new capital-adequacy rules, risk capital for small businesses, clearing and settlement, accounting standards and insolvency rules.
The idea is to delist them, take over, put in new management, clean the financial books and then re-list in Hong Kong, where accounting standards are less rigorous.
The new bylaws, written with guidance from the Paris Bourse, require balance sheets that meet international accounting standards and list a minimum of 25% of the company's shares.
While we knew that some people could not afford to make the home purchases that they did, we did not recognize that their numbers would be swelled by the simultaneous lowering of underwriting standards, changes in accounting rules and a slowing economy diminishing the income potential of both new buyers and current owners.
应用推荐