FASB and the International Accounting Standards Board (IASB) in November released a revised proposal that would create a single revenue recognition standard for both U.S. GAAP and IFRS. The standard is designed to streamline accounting for revenue across industries and correct inconsistencies in existing standards and practices. (Journal of Accountancy)

The IASB met on 13 to 16 December 2011 in a public meeting. Some sessions were held jointly with the FASB Board members. This was the last public meeting for 2011. A significant portion of the meeting focused on the impairment model for financial instruments, with the boards reaching tentative conclusions on measuring the allowances in the category into which financials assets are recognised initially. (IFRS.org)

Change provides for uniform effective mandatory dates for the project, as well as relief from having to restate comparative financial statements. (inAudit)

December 20, 2011 - The International Accounting Standards Board (IASB) today published for public comment proposed amendments to IFRS 10 Consolidated Financial Statements. (IFRS.org)

December 16, 2011 - FASB and the IASB today issued investor-focused common disclosure requirements on the effect or potential effect of offsetting arrangements on a company's financial position. (Journal of Accountancy)

December 16, 2011 - The International Accounting Standards Board (IASB) issued today amendments to IFRS 9 Financial Instruments that defer the mandatory effective date from 1 January 2013 to 1 January 2015. The deferral will make it possible for all phases of the project to have the same mandatory effective date. (IFRS.org)

December 16, 2011 - We wanted to make sure that you save the date for the XBRL's IFRS Taxonomy Annual Convention (ITAC) next year, which is being held on Wednesday 25 April at the Hilton London Tower Bridge Hotel. (IFRS.org)

December 15, 2011 - The English-language version of IFRS for SMEs training Module 33 Related Party Disclosures has been posted. Module 33 focuses on the presentation of related party disclosures in the financial statements in accordance with Section 33 Related Party Disclosures of the IFRS for SMEs. (IFRS.org)

December 12, 2011 - The Trustees of the IFRS Foundation announced today the appointment of Michel Prada as Chairman of the Trustees. (IFRS.org)

December 7, 2011 - The SME Implementation Group (SMEIG) today published two question and answer documents (Q&As) on the IFRS for SMEs. (IFRS.org)

The IASB met on 13 to 16 December 2011 in a public meeting. Some sessions were held jointly with the FASB Board members. This was the last public meeting for 2011. A significant portion of the meeting focused on the impairment model for financial instruments, with the boards reaching tentative conclusions on measuring the allowances in the category into which financials assets are recognised initially. (IFRS.org)

The November 2011 IFRS for SMEs Update has been published. (IFRS.org)

November 22, 2011 - The International Accounting Standards Board (IASB) and the International Federation of Accountants (IFAC) announced today an agreement to strengthen their co-operation in developing private and public sector accounting standards. (IFRS.org)

November 21, 2011 - The SME Implementation Group (SMEIG) today published two draft Questions & Answers (Q&As) on the IFRS for Small and Medium sized Entities (SMEs). The draft Q&As are open for comment until 31 January 2012. (IFRS.org)

November 14, 2011 - The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today issued for public comment a revised draft standard to improve and converge the financial reporting requirements of International Financial Reporting Standards (IFRSs) and US General Accepted Accounting Principles (GAAP) for revenue (and some related costs) from contracts with customers. (IFRS.org)

November 10, 2011 - The Trustees of the IFRS Foundation have announced the conclusions of their meeting in Paris, France on 13 October 2011. (IFRS.org)

October 21, 2011 - The International Accounting Standards Board (IASB) today published for public comment a proposed amendment to IFRS 1 First-time Adoption of International Financial Reporting Standards. (IFRS.org)

October 19, 2011 - The IASB issued today an Interpretation clarifying the requirements for accounting for stripping costs in the production phase of a surface mine. (IFRS.org)

October 5, 2011 - Hans Hoogervorst, Chairman of the IASB, addressed the American Institute of CPAs (AICPA) / IFRS Foundation conference, held in Boston, USA. His prepared remarks are available to download by clicking here. (IFRS.org)

August 25, 2011 - The International Accounting Standards Board (IASB) published proposals to define investment entities as a separate type of entity that would be exempt from the accounting requirements in IFRS 10 Consolidated Financial Statements. (IFRS.org)

June 24, 2011 - The terms of all existing members of the IFRS Advisory Council expire at the end of December 2011. This will conclude the third iteration of the IFRS Advisory Council, which was the first one where individuals served as representatives of organisations that have an interest in standard-setting. (IFRS.org)

June 16, 2011 - The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB), the US national standard-setter, issued today amendments that will improve and align the presentation of items of other comprehensive income (OCI) in financial statements prepared in accordance with International Financial Reporting Standards (IFRSs) and those prepared in accordance with US generally accepted accounting principles (GAAP). (IFRS.org)

June 16, 2011 - The International Accounting Standards Board (IASB) announced today the completion of its project to improve the accounting for pensions and other post-employment benefits by issuing an amended version of IAS 19 Employee Benefits. (IFRS.org)

June 15, 2011 - The International Accounting Standards Board (IASB) and the US-based Financial Accounting Standards Board (FASB) agreed today to re-expose their revised proposals for a common revenue recognition standard. (IFRS.org)

June 10, 2011 - The International Accounting Standards Board (IASB) and the Accounting Standards Board of Japan (ASBJ) have announced their achievements under their August 2007 Memorandum of Understanding (MoU), known as the Tokyo Agreement, to improve International Financial Reporting Standards (IFRSs) and Japanese generally accepted accounting principles (GAAP) and to bring about their convergence. (IFRS.org)

June 2, 2011 - The IFRS Foundation today published for public comment an exposure draft of the IFRS Taxonomy 2011 interim release: common-practice concepts. (IFRS.org)

On Tuesday 24 May 2011 there will be two webcasts by the IASB staff at 10am and 4pm to provide updates on the statuses of both the impairment and the hedge accounting projects. (IFRS.org)

The first set of webcasts, which takes place on 23 May, introduces IFRS 13 Fair Value Measurement and the second, taking place on 25 May, introduces IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities. (IFRS.org)

May 12, 2011 - The International Accounting Standards Board (IASB) today completed its improvements to the accounting requirements for off balance sheet activities and joint arrangements by issuing IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities.

May 12, 2011 - The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today issued new guidance on fair value measurement and disclosure requirements for International Financial Reporting Standards (IFRSs) and US generally accepted accounting principles (GAAP). (IFRS.org)

April 28, 2011 - The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), have published for public comment the preliminary conclusions of their strategy review.

April 28, 2011 - The IFRS Foundation Trustees, responsible for the governance and oversight of the International Accounting Standards Board (IASB), held their quarterly meeting in London on 30 and 31 March 2011.

April 27, 2011 - The Monitoring Board and the Trustees of the IFRS Foundation, following discussion at their fifth joint meeting on 1 April 2011 in London, reaffirmed their commitment to seeking close co-ordination in taking forward their respective efforts in reviewing the Foundation's governance and strategy.

April 21, 2011 - The International Accounting Standards Board (IASB) and the US-based Financial Accounting Standards Board (FASB) today published a progress report on their joint work to improve International Financial Reporting Standards (IFRSs) and US generally accepted accounting practices, and to bring about their convergence. (IFRS.org)

April 21, 2011 - The Trustees' Due Process Oversight Committee (DPOC), which is responsible for approving due process and overseeing the IASB’s compliance with due process, has introduced a new section of the IFRS Foundation website dedicated to its activities. (IFRS Foundation)

April 2011 - The IFRS Foundation's Financial Position: 2010 Results and 2011 Budget. (IFRS.org)

April 8, 2011 - The IFRS Foundation today announced that it will publish supplementary tags for the IFRS (International Financial Reporting Standards) Taxonomy that reflect disclosures that are commonly reported by entities in their IFRS financial statements. (IFRS.org)

The IASB and FASB plan to hold several public round-table meetings in May 2011 for the Financial Asset and Financial Liability Offsetting project. (IFRS.org)

March 11, 2011 - Read a speech given on 10 March 2011 by Sir David Tweedie, Chairman of the International Accounting Standards Board (IASB) to the US Chamber of Commerce Event, 'The Future of Financial Reporting: Convergence or Not?' in Washington, DC, USA. (IFRS.org) (Accounting Today article)

March 3, 2011 - A summary of the February 2011 IFRS Foundation Trustees' meeting, held on 10 and 11 February in Tokyo, Japan, is available at IFRS.org.

February 25, 2011 - The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), today announced the appointment of Takatsugu (Tak) Ochi as a member of the IASB for an initial five-year term from 1 July 2011 and renewable for a further three-year term. (IFRS.org)

February 23, 2011 - The Monitoring Board has announced that public round-table meetings will be held on the governance review of the IFRS Foundation. (IFRS.org)

The IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), today announced the appointment of Dick Sluimers as a Trustee of the IFRS Foundation for an initial term beginning immediately and expiring on 31 December 2013. (IFRS.org)

January 31, 2011 - The International Accounting Standards Board (IASB) and the US-based Financial Accounting Standards Board (FASB) have today published for public comment proposals for accounting for impairment of financial assets such as loans managed in an open portfolio. (IFRS.org)

January 28, 2011 - The International Accounting Standards Board (IASB) and the US-based Financial Accounting Standards Board (FASB) have published a proposal to establish a common approach to offsetting financial assets and financial liabilities on the statement of financial position (balance sheet). (IFRS.org)

January 18, 2011 - The IFRS Foundation today published for public comment an exposure draft of the IFRS Taxonomy 2011. (IFRS.org)

January 7, 2011 - The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), today announced steps to be taken following the tragic and untimely death of Tommaso Padoa-Schioppa (IFRS.org)

The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), have updated the timetable for completing the ongoing Strategy Review. (IFRS.org)

December 21, 2010 - The International Accounting Standards Board (IASB) today issued two narrow amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards (IFRSs). (IFRS.org)

December 21, 2010 - The International Accounting Standards Board (IASB) has today issued amendments to IAS 12 Income Taxes. (IFRS.org)

December 9, 2010 - The International Accounting Standards Board (IASB) today published for public comment an exposure draft on the accounting for hedging activities. (IFRS.org)

December 8, 2010 - The International Accounting Standards Board (IASB) has today published an International Financial Reporting Standard (IFRS) Practice Statement Management Commentary, a broad, non-binding framework for the presentation of narrative reporting to accompany financial statements prepared in accordance with IFRSs. (IFRS.org)

November 26, 2010 - The IFRS Foundation Trustees today extended the deadline for comments on their public consultation paper on the strategy review they are undertaking. The new deadline is 24 February 2011. (IFRS.org)

November 19, 2010 - On Tuesday 7 December the IFRS Foundation will hold a webcast from 10:00 to 11:30 London time (GMT) (repeated from 15:00 to 16:30 London time (GMT).) The session is designed for those teaching IFRSs and will focus on Framework-based teaching of principle-based accounting standards. (IFRS.org)

November 15, 2010 - The International Accounting Standards Board (IASB) and the European Financial Reporting Advisory Group (EFRAG) met today to review the IASB's ongoing work. (IFRS.org)

November 5, 2010 - The Trustees of the IFRS Foundation have published a first-stage consultation document designed to solicit input on the strategy of the IFRS Foundation as it enters its second decade. (IFRS.org)

Oversight Committee to carry out a review of the Interpretations Committee
November 2, 2010 - The IFRS Foundation Trustees' Due Process Oversight Committee is carrying out a review of the Interpretations Committee (formerly known as IFRIC) in order to assess its effectiveness. (IFRS.org)

October 28, 2010 - The International Accounting Standards Board (IASB) has today issued requirements on the accounting for financial liabilities. These requirements will be added to IFRS 9 Financial Instruments and complete the classification and measurement phase of the IASB's project to replace IAS 39 Financial Instruments: Recognition and Measurement. (IFRS.org)

October 12, 2010 - The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), today announced the appointment of Hans Hoogervorst as chairman and Ian Mackintosh as vice-chairman of the IASB. (IFRS.org)

October 12, 2010 - The IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), today confirmed the appointment of Duck-Koo Chung to serve as a Trustee of the IFRS Foundation for an initial three-year term, with effect from 1 January 2011. (IFRS.org)

October 7, 2010 - The International Accounting Standards Board (IASB), the independent standard-setting body of the IFRS Foundation, today issued amendments to IFRS 7 Financial Instruments: Disclosures as part of its comprehensive review of off balance sheet activities. (IFRS.org)

The International Accounting Standards Board (IASB) today published for public comment an exposure draft Severe Hyperinflation, a proposed amendment to IFRS 1 First-time Adoption of International Financial Reporting Standards. (IFRS.org)

On 29 September 2010 the IASB posted to its website a staff draft of a forthcoming IFRS on consolidation that reflects the tentative decisions made to date by the IASB. (IFRS.org)

September 28, 2010 - The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) today announced the completion of the first phase of their joint project to develop an improved conceptual framework for International Financial Reporting Standards (IFRSs) and US generally accepted accounting practices (GAAP).

On Wednesday 29 September IASB staff will present a live webcast introducing the first phase of Conceptual Framework. This will follow the publication of the first phase of the Conceptual Framework on Tuesday 28 September. (IFRS.org)