"Accountants Round Up" - 5 new articles
"Accountancy Profession Becoming ‘Closed Shop’ For Rich"By Paul Grant: Breaking into the accountancy profession is becoming increasingly difficult for those from low income families, according to a government report. The study into social mobility found that top professions are being closed off to all but the most affluent families, despite efforts to close the gap between rich and poor. Read complete article Accountancy Profession Becoming ‘Closed Shop’ For Rich "Financial Reporting Complexity: Can It Be Reduced?"By Dan Meyer: The Global Accounting Alliance, a group of accounting standard-setting bodies from throughout the world, recently met in New York to discuss complexity in financial reporting. They found some agreement on the desirably of simplifying financial reporting but not much agreement on how to accomplish the goal. Read complete post Financial Reporting Complexity: Can It Be Reduced? Accountants Round Up is RetiringDear loyal readers, it is time for ARU to bid you farewell after this week. We greatly appreciate your readership and trust over the past few years and it has been enjoyable to serve you with a collection of emerging accounting-related news items. We've been honored to be considered a worthy feed source. Best wishes, Golden Marketing Inc "EU: Banks Using Looser Accounting Rules"By Brussels (AP): European banks are increasingly using looser accounting rules to report a higher value in their 2008 accounts for complex investments that depreciated during the financial crisis, EU market supervisors said Wednesday. Rules which required assets to be valued at market prices -- called fair-value or mark-to-market -- were eased in October to allow European companies to use higher prices for derivatives when they reported earnings from the third quarter of 2008. Read complete article EU: Banks Using Looser Accounting Rules "Accounting Not To Blame For Financial Crisis"By Mario Christodoulou: Accounting rule makers should remain independent from `undue commercial and political pressures', a group of recognised leading financial experts has warned in a report which defends accounting standards as `not a root cause of the financial crisis'. The Financial Crisis Advisory Group (FCAG), formed in the wake of the global economic meltdown by American and International accounting rule makers, today published its recommendations where it said the independence of standard setters should be maintained. Read complete article Accounting Not To Blame For Financial Crisis More Recent Articles |
