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DOUBLE ENTRIES 16.05 | | Authors: | Andrew Priest and Andy Lymer | | Type: | Double Entries Archive |
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AccountingEducation.com's
Double Entries
The oldest continuous online accounting newswire in the world
ISSUE 16.05 FEBRUARY 18, 2010
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We hold regular information sessions, why not find out more here
news.
CANADA
[01] MORE DISCLOSURE ON IFRS TRANSITION REQUIRED
CHINA
[02] MOF PROVIDES GUIDANCE ON FURTHER IMPROVING ACCOUNTING PRACTICE FOR 2010
GERMANY
[03] GAAS 4 & 5 ISSUED BY GERMAN FEDERAL MINISTRY OF JUSTICE
INTERNATIONAL - IASB
[04] IASC FOUNDATION TRUSTEES ANNOUNCE FURTHER GOVERNANCE ENHANCEMENTS
[05] IASB ISSUES LIMITED EXEMPTION AMENDMENT TO IFRS 1
INTERNATIONAL - OTHER
[06] WORLD'S LEADING ACCOUNTING BODIES PUSH FOR MORE SIMPLICITY AND USEFULNESS IN FINANCIAL REPORTING
SOUTH AFRICA
[07] SOUTH AFRICAN HIGHER EDUCATION DEPARTMENT HELPS ASSURE FUTURES OF 150 ASPIRING CHARTERED ACCOUNTANTS
UNITED KINGDOM
[08] ICAEW GUIDE TO HELP THOSE FACING INSOLVENCY
[09] NEW ACCA REPORT RELEASED ON PENSION PLAN RISK
[10] APB ISSUES A REVISION TO PN15(I) - AUDIT OF OCCUPATIONAL PENSION SCHEMES IN IRELAND
[11] POLICY PROPOSAL - THE FUTURE OF UK GAAP: RESPONSES PUBLISHED
UNITED STATES
[12] OUTCOMES - FASB FEBRUARY 10, 2010 FASB/IASB JOINT VIDEO-CONFERENCE BOARD MEETING
[13] SEC CLIMATE CHANGE GUIDANCE NOW AVAILABLE
Editorial
Welcome to the 5th issue of Double Entries 2010.
AccountingEducation.com is about to enter (on 1 April) its 12th year of operation - and this newswire has been going even longer (now in its 16th volume). The two of us took over editing this newswire when we launched the website - 1 April 1999 - and have been doing it weekly ever since! The online world has changed a lot in that time and we think it is time for us to try a few different things too now with our website and this news service (we already tried some new things last year of course - see our RSS feeds and our Twitter efforts). We are therefore going to trial doing Double Entries bi-weekly instead of weekly for the next 6 months to see if this continues to give you as readers the same benefits but saves some volunteer effort in its production (no-one gets paid for doing this!). We'd very much value your comments during this period on how this change effects your use of our newswire - is bi-weekly OK for what you use this newswire for? Do let us know what you think.
Thank you for the many hundreds of you who have stayed subscribers to our website for much (in some cases all) of our 11 years so far. As always we welcome your comments and suggestions - and in particular we'd welcome further offers of help to join our correspondent team or even to potentially become a third editor to help out with production perhaps? Let us know.
Do you Twitter? If yes, you can find us at http://twitter.com/DoubleEntries. Wondering about the value of Twitter? You might find this blog posting of interest.
Till next week ....
Andrew Priest & Andy Lymer, Editors, Double_Entries@accountingeducation.com
JOBS UPDATE
AccountingEducation.com host academic and related jobs in our Job Archive and Career Centre. Access the current jobs listed here.
The following positions have been added to the AccountingEducation.com Academic Vacancy Centre during the past two weeks:
Assistant Professor or Associate Professor in Accounting Group
Employer: Warwick Business School, University of Warwick
Location: Coventry, West Midlands, UK
Deadline for applications: 26 March 2010
For further details see our full ad here.
Title: Technical writer - IFRS
Employer: IFRS Monitor
Location: not single location based, UK
Deadline for applications: 1 March 2010, or until post filled
IFRS Monitor is published eleven times a year and provides a fairly detailed report on the debate at public standard-setting meetings of the IASB.
We need at least one more writer to spend either one, two or three days a month listening to the IASB debate, taking detailed notes and then transcribing these, sometimes at Cannon Street, sometimes using the IASB webcast.
See further details in our jobs database here .
BOOK OF THE WEEK
Find out how to make more effective business decisions by applying key accounting concepts!
Managerial accounting, 4th Edition
Authors: James Jiambalvo, University of Washington
Publisher details: John Wiley & Sons Ltd
Recognizing that most students will pursue careers as managers not accountants, Managerial Accounting omits topics of less importance and concentrates on the key accounting concepts that managers need to understand in order to make successful, informed decisions.
Features:
•Greater emphasis on the service and retail sector.
•New comprehensive example of Job-Order Costing for a service company (a call center in India) in Chapter 2.
•New comprehensive example of the impact of the Activity-Based Costing (ABC) on product profitability in Chapter 6.
For further details including a range of supplementary material, or to request an inspection copy please visit the text book's website.
JOURNALS UPDATE
Our Accounting Journals Abstracts database tracks all the key journals in our field. Each week we add newly announced Journal listings to the database. The following Journal's contents has been added to the database during the past week.
Click here to access our full Journals database to see these recent entries and to search the full database going back for many journals over 10 years!
Accounting, Organizations and Society Vol 35 Issue 1 January 2010
•Lifestyle, status and occupational differentiation in Victorian accountancy - John Richard Edwards and Stephen P. Walker
•Accounting and the construction of the retired person - Cameron Graham
•Is accounting for sustainability actually accounting for sustainability...and how would we know? An exploration of narratives of organisations and the planet - Rob Gray
•Eco-control: The influence of management control systems on environmental and economic performance - Jean-François Henriand Marc Journeault
•Sources of power and infrastructural conditions in medieval governmental accounting - Michael John Jones
•Disclosing conflicts of interest - Do experience and reputation matter? - Christopher Koch and Carsten Schmidt
•The Role of accounting devices in performing - Peter Skærbæk and Kjell Tryggestad
•A moral solution to the moral hazard problem - Douglas E. Stevens and Alex Thevaranjan
International Journal of Auditing Volume 14 Issue 2 2010
•Putting Audit Approaches in Context: The Case of Business Risk Audits in Jordan - Modar Abdullatif and Husam Aldeen Al-Khadash
•External Auditing vs Statutory Committee Auditing: The Italian Evidence - Laura Mariani, Patrizia Tettamanzi and Fabio Corno
•When Auditors Err: How Mistake Significance and Superiors' Historical Reactions Influence Auditors' Likelihood to Admit a Mistake - Chad Stefaniak and Jesse C. Robertson
•Audit Quality, Corporate Governance, and Earnings Management: A Meta-Analysis - Jerry W. Lin and Mark I. Hwang
•The Relationship between Demographic Variables and Ethical Decision Making of Trainee Accountants - Bernard Pierce and Breda Sweeney
•Determining whether there are any Effects of Incentive Compensation and Stock Ownership on Internal Audit Procedures - Arnold Schneider
Management Accounting Research Vol 21 Iss 1 Jan 2010
•Leadership and control system design - Margaret A. Abernethy, Jan Bouwens and Laurence van Lent
•Nonfinancial performance measures, externalities and target setting: A comparative case study of resolutions through planning - Allan Hansen
•Budgeting practices and performance in small healthcare businesses - Robyn King, Peter M. Clarkson and Sandra Wallace
•Beyond budgeting or budgeting reconsidered? A survey of North-American budgeting practice - Theresa Libby and R. Murray Lindsay
[Click here to return to Table of Contents]
NEWS UPDATE
AccountingEducation.com probably has the largest Global Accounting News Archive on the web. Containing approximately 10,000 news stories dated from 1999 onwards covering all the key events of that period. Access the full, free, searchable, database here.
CANADA
[01] MORE DISCLOSURE ON IFRS TRANSITION REQUIRED
The Ontario Securities Commission (OSC) in Canada has published a Staff Notice 52-718 IFRS Transition Disclosure Review with results of a targeted review of the quality of disclosure by issuers of the upcoming changeover to International Financial Reporting Standards (IFRS). The disclosure of an issuer's preparation for the January 1, 2011, changeover to IFRS is important to assist investors in evaluating the readiness of an issuer's transition and the impact that IFRS adoption may have on its business activities and financial reporting. For more information, visit our news page. [FD]
CHINA
[02] MOF PROVIDES GUIDANCE ON FURTHER IMPROVING ACCOUNTING PRACTICE FOR 2010
At the end of year 2009, the Chinese Ministry of Finance provided guidance on how to further improve financial reporting quality in 2010. Several points were emphasized, including additional guidance on first-time adoption, appropriate use of professional judgment, elimination of the difference in A-share and H-share listed firms, and adoption of ‘Other Comprehensive Income’. Click through for fuller details of these proposals [HS]
GERMANY
[03] GAAS 4 & 5 ISSUED BY GERMAN FEDERAL MINISTRY OF JUSTICE
The Federal Ministry of Justice has published German Amendment Accounting Standard No. 4 (GAAS 4) and German Amendment Accounting Standard No. 5 (GAAS 5) in the authoritative German version pursuant to § 342 (2) HGB in the Official Gazette “Bundesanzeiger” No 27 on 18 March 2010 (supplement No. 27a). Click through to access further details. [AL]
INTERNATIONAL - IASB
[04] IASC FOUNDATION TRUSTEES ANNOUNCE FURTHER GOVERNANCE ENHANCEMENTS
[05] IASB ISSUES LIMITED EXEMPTION AMENDMENT TO IFRS 1
The International Accounting Standards Board (IASB) has issued a minor amendment to IFRS 1 First-time Adoption of International Financial Reporting Standards. The amendment relieves first-time adopters of IFRSs from providing the additional disclosures introduced in March 2009 by Improving Disclosures about Financial Instruments (Amendments to IFRS 7). It thereby ensures that first-time adopters benefit from the same transition provisions that Amendments to IFRS 7 provides to current IFRS preparers. More in our full news item. [AL]
INTERNATIONAL
[06] WORLD'S LEADING ACCOUNTING BODIES PUSH FOR MORE SIMPLICITY AND USEFULNESS IN FINANCIAL REPORTING
The Global Accounting Alliance has issued a report summarising its New York, Beijing and London roundtables discussing financial reporting, Making financial reporting simpler and more useful. The report concluded that a single set of globally accepted and principles-based accounting standards focusing on transparency and capital market needs would be ideal for all stakeholders. See our news item for more details. [AL]
SOUTH AFRICA
[07] SOUTH AFRICAN HIGHER EDUCATION DEPARTMENT HELPS ASSURE FUTURES OF 150 ASPIRING CHARTERED ACCOUNTANTS
With the growing awareness of the need to boost tertiary education, South Africa’s Department of Higher Education and Training has responded to a call to help fund the studies of 150 prospective chartered accountants [CAs(SA)]. The department has come to the party via a R10.5 million contribution towards the study costs of disadvantaged students towards achieving a Certificate in the Theory of Accountancy (CTA) or equivalent qualification as a prelude to their becoming full-blown CAs(SA). Read further details in our full news item. [DK]
UNITED KINGDOM
[08] ICAEW GUIDE TO HELP THOSE FACING INSOLVENCY
The ICAEW, in its role as the UK’s largest regulator of insolvency practitioners, has published a guide to help individuals and businesses affected by insolvency. Click through for more details and to access the guide. [AL]
[09] NEW ACCA REPORT RELEASED ON PENSION PLAN RISK
A new ACCA research report by Donal McKillop and Michael Pogue reviews the composition of pension funds, incidence of pension scheme deficits and their volatility for UK FT350 companies during the past five years. It includes an investigation of trustee attitudes to managing different levels of pension scheme deficit/surplus, as well as an assessment from a policy perspective of the impact of ongoing legislative change. Access the report online from our full news item. [AL]
[10] APB ISSUES A REVISION TO PN15(I) - AUDIT OF OCCUPATIONAL PENSION SCHEMES IN IRELAND
The UK and Irish Auditing Practices Board (APB) of the FRC has issued Practice Note 15 (I) (Revised) which updates the current guidance, which was issued in December 2005, for changes in the regulatory environment for pensions in Ireland including the Occupational Pensions Schemes (Disclosure of Information) Regulations 2006. Click through for further details. [AL]
[11] POLICY PROPOSAL - THE FUTURE OF UK GAAP: RESPONSES PUBLISHED
The Accounting Standards Board (ASB) of the FRC has received in excess of 150 high quality responses to its policy proposal: ‘The Future of UK GAAP.’ The responses have been posted on its website. Click through for more details and to access these responses. [AL]
UNITED STATES
[12] OUTCOMES - FASB FEBRUARY 10, 2010 FASB/IASB JOINT VIDEO-CONFERENCE BOARD MEETING
The Financial Accounting Standards Board (FASB) has released a summary of its February 10, 2010 FASB/IASB Joint Video conference Board Meeting. Please click through to our full news item for the summary and links to the related project pages [AP].
[13] SEC CLIMATE CHANGE GUIDANCE NOW AVAILABLE
The SEC previously announced the issuance of interpretive guidance on climate change disclosure. The guidance document is now available on the SEC website. Click through for more information. [GC]
more about Double Entries & AccountingEducation.com.....
Double Entries is a weekly e-newsletter that provides up-to-date news of accounting and auditing around the world and is available both by email and on the World Wide Web at http//accountingeducation.com. Double Entries is edited by Andrew Priest at the School of Accounting, Edith Cowan University, Perth, Western Australia, Australia and Andy Lymer, Birmingham Business School, University of Birmingham, Birmingham, United Kingdom. Correspondents come from the profession and academia. Further information, source of the material and contributor names for specific articles in Double Entries can be found online by referring to the specific article in the News section of AccountingEducation.com.
Contributors: Andy Lymer [AL] (UK), Andrew Priest [AP], David Hardidge [DH], (Australia), Amelia Baldwin [AB], Roger Debreceny [RD] (US), Dave Kolitz [DK], Dieter Gloeck (South Africa), Nikoleta Radic [NR] (The Netherlands), Frank D'Andrea [FD] (Canada), Elisabeth Walliser [EW], Jean-Luc Rossignol [JR] (France), Nick Rowbottom (United Kingdom) [NR], Tony van Zijl [TV] (New Zealand), Barbara Weissenberger (Germany) [BW], Tan Bee Leng (Malaysia), Rene Castro (Colombia) [RC], Gia Chevis [CG] (United States), Mingchuan Ren [MR] and Haina Shi [HS] (China).
Mailing Address: AccountingEducation.com Ltd, Unit 100, The Guildhall, Edgbaston Park Road, Birmingham, UK, B15 2TU.
NOTE - AccountingEducation.com Ltd does not assume copyright of any of the above materials where original source is given and original copyright remains with Information sources where acknowledged. The information contained in this newswire is supplied in good faith but is not endorsed in any way by AccountingEducation.com Ltd and should be confirmed before being used in any way.
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