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Accounting Standards

Accounting Standards

The recent “accounting” scandals reinforced the importance of standards in accounting and business. This area of CreditPulse will monitor select changes and modifications of accounting standards and other standards that effect business by governing bodies such as the Financial Accounting Standards Board (FASB) and the American Institute of Certified Public Accountants (AICPA).  Also, we will monitor enforcement of various rules and standards by both the Securities and Exchange Commission (SEC) and the Federal Reserve Board.

Recent Articles

Financial Disclosure Problems Strike Again

February 10, 2010

Bank of America management, with likely involvement from the U.S. Treasury, ignored the advice of its company treasurer, external auditor and general counsel by not disclosing the pre-merger losses at Merrill Lynch, according to a suit filed last week by the New York Atty General.

More and more of the details are emerging about what really happened during the tense moments back in Nov. and Dec. of 2008 at the height of the credit crisis when Bank of America either voluntarily or involuntarily acquired Merrill Lynch.  Read inside for details of what happened.

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Convergence of Accounting Standards, Ethics Take Center Stage at IMA Annual Conference

July 7, 2008

Approximately 1,100 corporate accounting and finance professionals from around the country, and some from around the world, gathered in Tampa, Florida two weeks ago for the Institute of Management Accountants (IMA) 89th Annual Conference & Exhibition.

The impending convergence of U.S. Generally Accepted Accounting Principles (GAAP) with International Financial Reporting Standards (IFRS), a process with enormous ramifications for businesses and investors worldwide that has received very little media attention, took center stage throughout the

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Standards Convergence: The Movement Toward International Accounting Standards

July 7, 2008

The integration of European capital markets and the rapid growth of China's economy and capital markets have increased the pressure to merge the various accounting standards of the world into one cohesive accounting standard -- a movement known as convergence.

Read below as one of the foremost experts on the impending convergence between U.S. GAAP and International Financial Reporting Standards (IFRS) provides insight on what will likely be the biggest change in accounting standards and reporting since the Securities and Exchange Act of 1934.

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