Peeling away financial reporting issues one layer at a time

Tag archive for IFRS convergence

Revenue Recognition: A Litmus Test for Convergence with IFRS

Do you remember the Big Four mantra that IFRS adoption in the U.S. was “inevitable”?  Today, thankfully, the operative word is “dead.”  Even former SEC chair, Christopher Cox, whose brainchild was the IFRS adoption [Read More...]

Don’t Rely on “Journal of Accountancy” for Balanced Reporting of IFRS

In the main, the only reason my wife and I subscribe to magazines and newspapers in hardcopy is because she prefers them.  I much prefer to get as much as possible from the web; [Read More...]

What the Chief Accountant’s Resignation Means for the Future of IFRS in the U.S.

As I was sitting down today to write the second and final installment on periodic lease expense, I received this email from a friend [bold italics supplied by yours truly]:

I [Read More...]

It’s Nice to Win Something, Even if it’s the “Losing Cause Man of the Year”

No one likes to be told they are irrelevant, but that was my first reaction to Bob Jensen's AECM post, in which he dubbed me the "Losing Cause Man of the Year." I [Read More...]

Let the “Condorsement” Games Begin

The SEC has finally conceded that its efforts to adopt IFRS have failed. Damage control has begun in earnest, but the ship is still taking on water.

The SEC took a tentative poke at the problem [Read More...]

SEC Staff Report on IFRS Roadmap: The Public Deserves to Know More

Last February the SEC announced, that their IFRS Roadmap had morphed into a "staff work plan." The staff was supposed to publish its first progress report sometime in October, and wouldn't you know, [Read More...]

Initial Reactions to the SEC Moving IFRS from the Fast Lane

I recently recorded a podcast for Compliance Week with editor Matt Kelly, who interviewed me on the SEC's most recent statement on IFRS—a clear detour from the original Roadmap by any reasonable [Read More...]