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Is the Cloud on a Collision Course With Your Balance Sheet?
New lease-accounting rules could turn the cloud's silver lining to lead.
November 30, 2011
Companies are moving at a rapid clip toward adopting cloud-computing processes, including infrastructure-as-a-service (IaaS), which allows them to outsource their IT departments to third parties. IaaS frees companies from buying and maintaining servers for applications, storage, and networking and from recording these servers on their balance sheets. Gartner predicts that the worldwide IaaS market will grow from $3.7 billion this year to $10.5 billion by 2014. But some say new lease-accounting rules could dampen companies' enthusiasm for hosting their data in the cloud, particularly on dedicated servers that these companies hope will afford them greater privacy and security. Read more...
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Two Steps Back from Global Accounting?
FASB's parent wants the board to retain power and says there should be more than one set of financial reporting standards. November 16, 2011
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Construction, Software Industry Protests Spur Revenue-Recognition Revise
The construction and software industries, along with many others, get accounting standard-setters to simplify their act. November 15, 2011
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Taxing the Cloud
As the cloud-computing market grows, revenue-starved states are looking to grab a piece of the action by expanding the definition of nexus. October 25, 2011
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NY CPAs: IFRS Still Not Ready for the U.S.
The New York State Society of CPAs say unresolved rule differences and related comparability issues make adoption of IFRS by U.S. companies problematic. August 8, 2011
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Accounting Boards Issue Converged Fair-Value Standards
FASB and the IASB meld their ways on a key accounting rule. May 12, 2011
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Accounting Boards Delay Convergence Beyond June 30
The completion date for full accounting convergence has been a matter of intense speculation among independent auditors. April 21, 2011
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Tweedie Takes a Bow
The only person to ever hold the chairman's seat at the IASB is four months from retirement. He talks candidly about IFRS, professional judgment, accounting education, and his successor. February 1, 2011
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How Not to Create Private-Company GAAP
A favored approach to establishing "little GAAP" for private U.S. companies is way off target. January 6, 2011
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It's Official: Seidman Is FASB Chair
The Financial Accounting Standards Board appoints acting chairman Leslie Seidman as its new chairman. December 23, 2010
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