Accounting Roundup: Year in Review — 2009
We’re pleased to announce the latest edition of Accounting Roundup. This issue covers accounting standard-setter and regulatory activities that affect year-end financial reporting, as well as recent developments at the end of 2009. This year, standard setters and regulators continued to focus on volatility in the credit and financial markets by addressing topics such as fair value measurements and impairments. There were also significant changes to other aspects of accounting, such as the consolidation model for variable interest entities and revenue recognition for multiple-element arrangements.
In addition, in 2009, standard setters made significant efforts in converging accounting standards. The FASB and IASB have worked closely on many projects to more closely align U.S. GAAP and IFRSs. The SEC also made several announcements rekindling the discussion of whether U.S. companies would prepare financial statements in accordance with IFRSs. This topic was also a focus at the AICPA National Conference in December.
Accounting Roundup, published by Deloitte & Touche LLP, briefly describes recent U.S. regulatory and professional developments in the field of accounting. In each issue, visitors find summaries with hyperlinks to more detailed information. Accounting Roundup acts as a resource guide for accounting, financial, investment, legal, tax, and other business professionals.
Find the complete Year in Review — 2009 issue of Accounting Roundup in the PDF attachment. Or visit our Accounting Roundup Archive, where you can access past issues and other special editions.
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