Reading this on a mobile device? Try our optimized mobile version here: http://r.smartbrief.com/resp/eboECfbwoceUAffdRDPu

December 5, 2012
Sign upForwardArchiveAdvertise

  Top Stories 
  Africa 
  • Ghana will enforce IFRS beginning next year
    Starting in 2013, financial reports not prepared according to International Financial Reporting Standards won't be recognized in Ghana, says Norman Williams, country director of the Association of Chartered Certified Accountants. Sanctions have been implemented to ensure compliance, and the association will focus on helping accountants become familiar with IFRS. Business & Financial Times (Ghana) (11/23) LinkedInFacebookTwitterEmail this Story
  • Other News
  Americas 
  • IRS unveils ITIN procedure
    The U.S. Internal Revenue Service revised the procedure for issuing an individual taxpayer-identification number to people ineligible for a Social Security number. To alleviate concern about a requirement that taxpayers supply original documents, the IRS will set up Taxpayer Assistance Centers to review documents and also will let certifying-acceptance agents verify them. JournalofAccountancy.com (11/29) LinkedInFacebookTwitterEmail this Story
  • Brazil will use accounting mechanism to make up surplus shortfall
    The Brazilian government will turn to a mechanism that allows it to deduct public-sector investment from its budget-surplus target to make up a shortfall, Finance Minister Guido Mantega says. "We have a target equivalent to 3.1% of [gross domestic product], and we have authorization to deduct the equivalent of investments that we'll make from this full target," he said. However, Brazil probably won't need the full amount of $22.2 billion. Nasdaq.com/Dow Jones Newswires (11/6) LinkedInFacebookTwitterEmail this Story
  • Other News
  Asia 
  • Other News
  Australia 
  • IFRS 9 amendments are opposed by AASB, insurance community
    The International Accounting Standards Board has released limited amendments to the classification and measurement aspect of International Financial Reporting Standard 9. The amendments propose changes in the value of debt to be recorded in other comprehensive income. QBE Insurance Group and the Australian Accounting Standards Board oppose the changes, saying they would reduce transparency and could increase compliance costs. Australian Financial Review (11/30) LinkedInFacebookTwitterEmail this Story
  Europe 
  • Banks might be undercapitalized, BoE report says
    A Bank of England Financial Policy Committee report says capital ratios do not provide a measure of financial health and that banks might be inadequately capitalized. "The current accounting regime may prevent banks from provisioning in a timely manner against losses that they expect to suffer," the report says. The fear that banks are undercapitalized could undermine investor confidence and keep banks from loaning. BBC (11/29), The Telegraph (London) (tiered subscription model) (11/29) LinkedInFacebookTwitterEmail this Story
  • Other News
  Poll 
  • What's your biggest professional challenge?
    Recruiting the right talent  65.48%
    Selecting the right technology  17.86%
    Dealing with fallout from the eurozone crisis  5.95%
    Managing competition from emerging markets  5.95%
    Picking the right overseas market in which to do business  4.76%
  AICPA News 
Learn more about AICPAJoin AICPA  |  Member Services  |  Publications  | 
CPE, Conferences, Products  |  Contact us

  SmartQuote 
An expert is a man who has made all the mistakes which can be made in a very narrow field."
--Niels Bohr,
Danish physicist


LinkedInFacebookTwitterEmail this Story

 

AICPA Resources


 
Subscriber Tools
   
Print friendly format  | Web version  | Search past news  | Archive  | Privacy policy

     
    Contact AICPA
    AICPA Service Center
    220 Leigh Farm Road
    Durham, NC 27707-8110 USA
    Phone: 888.777.7077
    Fax: 800.362.5066
    service@aicpa.org
    www.aicpa.org
     
    About AICPA
    The American Institute of Certified Public Accountants is the world's largest association representing the accounting profession, with nearly 386,000 members in 128 countries and a 125-year heritage of serving the public interest. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination and offers specialty credentials for CPAs who concentrate on personal financial planning, fraud and forensics, business valuation and information technology. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation to elevate management accounting globally.

     
     Recent Global CPA Report Issues:   Lead Editor:   Tom Anderson
         
    Mailing Address:
    SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004
     
     
    © 1999-2012 SmartBrief, Inc.®  Legal Information