The alternative is the industry's home-grown accounting standard, which is called Embedded Value (EV).
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Obviously, regulators and accounting standard setting organizations should be concerned that this could occur.
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Behind the scenes, they have been taking aim at someone else: the accounting standard-setters.
Corporate boards say a proposed new accounting standard, known as FRS17, risks making final salary schemes too expensive.
There are standards for this sort of thing, like financial accounting standard 157 that requires a three-step valuation process.
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Few oppose the move toward an international accounting standard, though problems, of course, arise in sorting out the details.
Instead, the SEC would like to move toward a single international accounting standard.
The accounting standard in question, known as APB 23, was criticized in a Sept. 20 Senate hearing chaired by Sen.
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These include reforms that would affect bank regulators, supervisors and accounting standard-setters, and cover bankers' pay, derivatives trading and rating agencies.
FRS17 accounting standard, according to new figures this week from the regulator.
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The alternative is the industry's home-grown accounting standard, Embedded Value (EV).
Recent news stories and opinion pieces have stated or implied that public pensions should be using a corporate pension accounting standard to measure actuarial funding levels.
He should at least step down until the performance of KPMG in the audit of HBOS, and accounting standard setting, has been properly and independently investigated.
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Sometimes when IFRS is discussed, especially with regard to the roadmap for adoption in the United States, the accounting framework is conflated with the accounting standard or principle.
And third, the fact that in a few years' time we shall all have to comply with an international accounting standard, the shape of which is not yet finally determined.
In Britain, listed companies have until 2005 to adopt FRS17, a new accounting standard that forces firms to show in their accounts any movements in the value of their pension funds.
Just meeting an accounting standard is often not sufficient.
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Accounting standard-setters have been arm-twisted into relaxing rules that force banks to mark certain assets to market, but in the long run that may hurt confidence in the health of bank balance-sheets, not help it.
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The goal of developing a single international accounting standard is not entirely new--in fact, it dates back to 1973, when the International Accounting Standards Committee (now the International Accounting Standards Board) developed a set of standards to be used worldwide.
He is using standard accounting to take control of the PA's mysterious finances and open them up for all to see.
While this is a standard accounting treatment, people who follow our company may not be fully aware of how it impacts our financial reporting.
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We analyze the effects of this freeing up of resources in a standard growth accounting framework.
It is unclear as yet whether these problems are serious, says Christina Padgett, senior credit officer at Moody's Investors Service, or whether they simply reflect the fact that America's Sarbanes-Oxley act has imposed a higher standard of accounting accuracy.
In May of 2011, the Financial Accounting Standards Board amended the standard Lehman had manipulated.
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In late April California Democrat and corporate scourge Henry Waxman fired off letters to AID, the Pentagon and the General Accounting Office demanding to know why standard open-bidding processes were skirted.
Just a few pages later we hear from Ken Lay, the CEO of Enron who died in 2006 shortly before being sentenced for securities fraud connected to the most well-known financial fraud of the decade, which set a new standard for creative criminal accounting.
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Relatively quickly many of the older industry standard firms that sold mainframe accounting systems disappeared, said Cytron, who is betting that the industry is ready for another major shift.
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The International Financial Reporting Standard Foundation (formerly the International Accounting Standards Committee Foundation) is the governing body of the International Accounting Standards Board that sets accounting standards for much of the world.
Its predecessor, the Business Accounting Deliberation Council, appeared powerless to pass any standard that would damage the suffering Japanese economy.
Even though differences over accounting principles have stymied the hope of a single standard in the past, Malan says there now seems to be a "spirit in the discussion" that there would be an obvious benefit to a convergence of rules.
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