More accounting changes : financial reporting through the age of crisis and globalization / by Robert H.Herz.

Format:

Book

Contributor:

Herz, Robert H., editor.

Language:

English

Subjects (All):

Accounting.

Physical Description:

1 online resource (464 p.)

Place of Publication:

United Kingdom : Emerald, 2016.

Summary:

This volume, More Accounting Changes, is a revised and updated edition of Herz's earlier work, reflecting: developments in financial reporting (including those relating to international convergence of accounting standards); global developments regarding the use of International Financial Reporting Standards; current efforts at disclosure modernization and simplification by the SEC and FASB; a discussion of whether the U.S. is falling behind in corporate reporting ; the rise of 'Integrated Reporting'; the work of the Sustainability Accounting Standards Board (chaired by Michael Bloomberg); and recent regulatory developments emanating from the financial crisis and their interrelationship with financial reporting.

Contents:

Front Cover; More Accounting Changes; Copyright Page; Contents; Foreword; More Accounting Changes: Financial Reporting through the Age of Crisis and Globalization; Preface; Acknowledgments; 1 My First 49 Years; Jersey Boy; Don't Cry for Me Argentina; Rule Britannia; The Early Accountant; Hello Miami, Goodbye Miami (and PW), and Hello Boston (and Coopers & Lybrand); Return of the Prodigal Son; The Roaring '80s and Bad Bob; Poacher Turned Gamekeeper; Professional Affairs; A Merger of Equals and "The Dream Team"; Could You See It Coming?

Efforts to Improve and Expand Corporate Reporting - The Jenkins Committee, ValueReporting, and the FASB Business Reporting Research ProjectInternational Bob; Unforgettable Events and a Fork in the Road; Some Basics about the FASB; 2 Charting Course; Improving Standard Setting; Can We Make Things Simpler?; Rationalizing the Structure of U.S. Accounting Standard Setting; The Accounting Standards Codification; Improving the Understandability of Standards; International Convergence; Setting Course; 3 Stock Option Controversies - Take Two; What's the Problem?

Addressing the Accounting Issues in the Face of Pressure Politics4 International Convergence; The Urge to Converge and Wherefore IFRS?; What Does the Law Require?; Views of Standard Setters on International Convergence; The Norwalk Agreement; Short-Term Convergence Projects; Undertaking Major Joint Projects; The 2005 SEC Staff "Roadmap" and the 2006 FASB-IASB MoU; Conceptual Framework; The SEC Eliminates the Reconciliation Requirement and Explores Potential Adoption of IFRSs in the United States; Improve and Adopt IFRS

The SEC Proposes a New "Roadmap" to IFRSs Adoption, and the FASB and IASB Update the MoUMixed Responses to the SEC "Roadmap"; Some Begin to Question America's Commitment to Global Accounting Standards; The G20 Leaders Push for Rapid International Convergence of Accounting Standards; The FASB and the IASB Respond to the G20 Call by More Than Redoubling the Convergence Effort; A Necessary Change in Plans; Waning of the Urge to Converge; In the Meantime, Back at the SEC; As the World Turns; So, Bob, What Do You Really Think about Convergence and IFRSs?; Nobody Said This Would Be Easy; Now Where?

Conclusion5 The Financial Crisis; Accounting Did Not Cause the Financial Crisis, and Accounting Will Not End It; Were There Warning Signs?; The Addiction to Off-Balance Sheet Accounting; Off-Balance Accounting 101; Did They Qualify?; SIVs, Conduits, and Other VIEs; The Lehman Repo 105 and 108 Transactions; Fair Value, Mark-to-Market Accounting, and Impairment of Financial Assets; Some History; Then Came the Crisis; The Year 2008 Draws to a Close; Into 2009 - Congress Weighs In; Our Response; The World Goes On, But It's Not the Same; Some Lessons Learned

Measuring Financial Instruments - Amortized Cost versus Fair Value

Notes:

Description based upon print version of record.

Includes bibliographic references and index.

Print version record

ISBN:

9781786356291

1786356295

OCLC:

958651116