International accounting board closes comment period on its proposed credit loss changes.
The Financial Accounting Standards Board is getting an earful from credit unions and trade associations. Even NCUA Chairman Debbie Matz, like others, is concerned about the accounting board’s exposure draft that would require financial institutions to base loan-loss allocations on expected losses, rather than incurred losses. In addition to requiring...
More deliberation to come, standards board promises, in proposed changes to loan losses accounting standards.
Council reps at International Accounting Standards Board panel discussion on Monday.
Just like the 14,000 member credit unions it supports, the World Council of Credit Unions in Madison, Wis., must intermittently reevaluate its structure and programs in order to best meet the needs of those it serves.
Under a new leader, the World Council pursues new priorities. Get the story in this preview from next week's print edition.
The Financial Accounting Standards Board recently released a proposed accounting standards update for financial instruments concerning new financial statement disclosures of liquidity risk and interest rate risk. The proposal is one portion of a joint project between FASB and the International Accounting Standards Board on the subject of accounting for...
In case you’ve missed it, significant efforts are currently underway to align U.S. accounting practices with standards that are followed in other parts of the world (the convergence process). To accomplish this monumental task, the U.S.-based Financial Accounting Standards Board is working closely with the International Accounting Standards Board.
WASHINGTON - The vast majority of credit unions would have five or six years to make any changes to accounting standards that result from efforts to rewrite parts of the generally accepted accounting procedures.
World Council of Credit Unions announced today the International Accounting Standards Board is seeking comments from credit unions and other financial services providers on issues surrounding fair value measurements.